In a constantly evolving economic context, marked by an exponential aging of the population and by growing uncertainty in the public pension system , the issue of supplementary pension provision is assuming a central role.
More and more workers and companies are in fact re-evaluating pension planning strategies and the benefits associated with Corporate Welfare as fundamental tools for ensuring long-term security and well-being.
An approach that - if intercepted by companies - would allow not only to improve the financial well-being of employees, but also to strengthen engagement and retention , key elements for business success.
In this article we will explore what “supplementary pension” is, what tax advantages it offers, and why it can represent a concrete opportunity for both employees and employers.
What is supplementary pension provision?
Supplementary or integrative pension provision is a voluntary savings system that supplements the mandatory pension paid by INPS.
It was created with the aim of guaranteeing workers a better or equal standard of living, even after leaving the world of work, trying to bridge the gap between salary and public pension.
There are various forms of supplementary pension provision:
● closed pension funds (intended for categories of workers),
● open pension funds (accessible to all),
● Individual Pension Plans (PIP) , flexible and customizable insurance solutions.
Joining one of these tools allows you to set aside capital that, at the time of retirement, can be converted into an annuity or redeemed.
Tax discipline of contributions and premiums paid: what does the legislation say on the taxation of supplementary pensions?
The Italian legislation on supplementary pensions, mainly regulated by Legislative Decree 252/2005 , provides for a favorable tax regime, both for workers and for businesses.
Contributions paid to pension funds, both by the worker and the employer, are in fact deductible from taxable income up to a maximum of €5,164.57 per year.
This means that the worker can obtain significant tax savings already during the working period.
This set of benefits makes supplementary pension provision one of the most efficient tools for planning future pensions, also optimising the overall tax burden.
But why do we need a supplementary pension today?
Pension GAP and supplementary pension
The term “pension gap” generally refers to the gap between the last salary received during working life and the amount of the public pension, which is received once the activity has ended.
In recent years, due to pension reforms and the adoption of the contributory system, this gap has widened significantly, especially for younger generations and/or for those with discontinuous working careers.
In practice, many workers risk finding themselves, upon retirement, with a pension that is significantly lower than their last salary.
The consequences? A drastic and sudden reduction in the standard of living, with consequent and necessary changes in one's habits but also difficulties in sustaining daily expenses.
Accumulating additional contributions over time in a pension fund allows you to build a supplementary income that, added to the public pension, allows you to face the future with greater serenity and economic autonomy.
How to do?
Supplementary pension and corporate welfare
Supplementary pension provision is increasingly being included in corporate welfare plans today, as a high-value benefit perceived by employees.
The world of work is undergoing an epochal transformation.
In this "new era", also explored by the XVIII Censis-Eudaimon Report and characterized by structural changes, such as demographic contraction, the decline of public welfare and the spread of remote working and Smart Working , there are several phenomena that have changed the very meaning of work and the way in which people - especially young people - try to balance their personal and professional lives .
Today, for employees, it is a top priority that work contributes to their holistic well-being.
“ Wellbeing ” is in fact understood in a broader sense, including physical, mental, emotional, social and economic health.
Concerns about health, the future, and social security are increasingly on the rise and there is a growing desire to see the importance of individual and family well-being recognized in the relationship with the company.
In this context, the traditional public welfare system is now perceived as inadequate and obsolete and there is growing uncertainty regarding its ability to cover the most essential needs.
Many workers don’t know who to turn to if they have problems.
Faced with a situation of this type, Corporate Welfare is therefore taking on an increasingly central role in the search for safety and general well-being of workers.
Corporate Welfare: From Accompaniment to the Wellbeing Hub
Corporate Welfare is no longer seen only as a function of accompaniment or response to specific needs.
Today, companies are called to become true "Wellness Hubs", living contexts in which people expect an active contribution to their well-being.
For 63.5% of employees, the company they work for could do a lot to improve their well-being.
This expectation is further amplified by the so-called "corridor syndrome" , or the fall of barriers between private and working life, often fueled by constant availability and Smart Working, due to which workers end up bringing the difficulties of their private life into the company and vice versa.
In light of all this, companies are called not only to keep up with new needs but also to act concretely and immediately.
Technology and AI to Support Welfare
To respond to these new and complex needs, technology , including Artificial Intelligence (AI), plays a fundamental role.
Over the past ten years, technological innovation has significantly revolutionized access to Corporate Welfare services. We have moved from physical totems to digital solutions accessible at any time from smartphones and personal devices.
The availability of Welfare services via mobile apps is also considered a motivating factor: to adopt healthier habits: people now expect access to these services to be simple and natural, like the digital experiences they live every day.
Source: Great Employee Benefit Study - Epassi Group
AI and technology support Corporate Welfare by offering Accessibility, Prediction and Personalization (all in one APP).
Among the main innovations that allow us to offer an accessible, personalized and predictable service we find:
● “intelligent” chatbots , capable of providing immediate answers to workers' frequently asked questions.
● Predictive engines , capable of suggesting solutions and services consistent with the specific needs and preferences of each employee. Responding to the need to recognize "each person and each person's need".
● Data analysis , to better understand the emerging needs of the workforce as a whole and continuously improve the welfare offering.
As also highlighted in the most recent Censis-Eudaimon Report, technology is not only an innovation tool, but a necessity to build companies that are true points of reference for the well-being of their people.
The More innovative platforms allow increasingly intuitive, rapid and personalized access to services, from any device, providing guided paths and tutorials that facilitate the choice.
Apps like Euty focus on a concept of Welfare to support the person, proposing themselves as a trusted "guide", as a practical and decisive tool, aimed at young people, parents and families.
But - regardless of the medium and the technology - what matters is always "putting people at the center" , integrating technology with a human and empathetic approach.
Technology and AI in Welfare as a Means, Not an End: The Importance of the Human Touch
It is crucial to emphasize that technology and AI must be seen as a means and not an end.
Although AI improves efficiency, welfare remains fundamentally a topic of human relations : the right approach is only the one that unites man with technology.
Experience shows us that the human component is irreplaceable in interpreting nuances, reading contexts and building trust.
A colleague's advice, or the role of an internal "welfare ambassador" , often proves more effective than a digital communication campaign, as people continue to trust word of mouth from figures close to their daily lives more.
The future of Corporate Welfare lies in the creation of an ecosystem in which technology and empathy complement each other.
In this context, caring for people represents a strategic choice for building better companies.
The “Welfare of the future” is integrated, personalized and human.
In conclusion, technology, and in particular the application of AI through digital platforms and mobile apps, becomes an essential tool for Corporate Welfare, allowing us to offer that personalized and accessible support that workers today require for their holistic well-being, but its added value does not end there!
“For Campari Group, having Eudaimon as a partner is essential as we share the same core values on how to “do” Welfare and what is meant by “People Care”.
Putting the person at the center through welfare policies does not only mean a careful remuneration strategy, but a real care that translates into concrete benefits for all collaborators.
A strong shared “social” vision (albeit with the right differences in approach) has always characterised the actions of Eudaimon and Campari Group.”
(Eugenio Pelitti - Campari Group )
The benefits in terms of attraction, retention and improvement of corporate culture are decidedly tangible.
A Welfare that puts people at the center, in a company that places among its priorities the well-being in the broad sense of the employees, can only contribute to improving the image of the Brand and the corporate culture, with a consequent greater attractiveness for talents and progressive abolition of turnover , with an evident qualitative and quantitative improvement of the company.