IDEA ITALIA PIR: Savings that bet on Italy
The Cattolica insurance solution targeted at families and savers supports the national economy and benefits from interesting tax advantages
Verona, 09 October 2018
A new savings solution dedicated to all the customers who want to create capital over time through periodic payments, diversifying their investments and focusing on the growth of the Italian market, specifically small and medium businesses. It is Cattolica IDEA ITALIA PIR, a multi-branch product belonging to the “Individual Savings Plans” category, the new financial instruments established by the Italian Government with the “2017 Budget Law”.
Available at the agencies of the Cattolica Group since last 25 September, IDEA ITALIA PIR provides new investment opportunities for savings: thanks to the new “Cattolica SerenaMente” Separate Management and the special United Linked Fund “Cattolica Strategia Italia [Cattolica Italy Strategy]”, the Company will be able to protect a portion of the capital invested and look for the best investment opportunities on the Italian market. In fact, as provided by the legislation, at least 70% of the value of the fund must be allocated to stocks and bonds issued by businesses residing in Italy or that have a permanent organisation in Italy. Of this quota, at least 30% must relate to businesses not included in the main Stock Exchange index.
A great opportunity to actively support the growth of our country's economy: in just over a year from the inception of these instruments, we estimate that approx. €4.5 billion has already be directed at Italian SMEs, directly or indirectly.
Through a minimum recurring premium of €5,000 per year, with a maximum limit of
€30,000 per calendar year and €150,000 on the individual Plan, interesting tax benefits dedicated to this category of instruments can be accessed: by keeping the investment for a minimum of 5 years, the potential financial returns will be exempt from the ordinary tax on capital gains. In addition, as applies already for the insurance policies, the amounts paid will be exempt from any estate duties.
Massimo di Tria, Chief Investment Officer of Gruppo Cattolica Assicurazioni, stated: “With IDEA ITALIA PIR Cattolica is enriching its offer of Individual Savings Plans by offering customers a top level professional management suitable for handling the complexity of the current economic scenario. Those who invest in this instrument will actively contribute to supporting the Italian industrial fabric and at the same time will gain the benefits of the stability of the returns of one of the leading Italian Separate Management companies with dedicated profits fund. Furthermore, those who can keep the investment for a minimum of 5 years will also receive an additional significant benefit in terms of tax advantage”.