SERVICES
Social Security and Contributions
Consolidation Between the Separate Management Fund and Professional Pension Funds: INPS Changes Course
INPS
In the circular under review, INPS addresses the consolidation of contributions between the Separate Management Fund and the private compulsory pension funds for professionals, adopting a now well-established judicial interpretation and departing from its previous administrative position.
Specifically, it is now recognized that contributions may be transferred both from the Separate Management Fund to a professional pension fund (outward consolidation) and in the reverse direction (inward consolidation), in accordance with the principles governing the unification of insurance positions.
Regarding consolidation into the Separate Management Fund, INPS clarifies that the cost is calculated using the “percentage-based” contributory method: the rate in force at the date of the application is applied to the remuneration of the preceding twelve months, within the applicable minimum and maximum thresholds. The contributions transferred from the fund of origin are then deducted from the resulting amount.
Consolidated periods retain their chronological position for pension entitlement purposes, but the revaluation of the accrued amount runs from the date of the application. Periods already used for the calculation of a pension are excluded, and partial consolidation is not permitted.