Intesa, agreement on a single pension fund for 130,000 bank employees: it will manage 10 billion

Protections for all 130 thousand employees involved and the same individual guarantees provided by the original funds. The agreement reached by the Intesa Sanpaolo group and the trade unions, Fabi, First Cisl, Fisac ​​Cgil, Uilca and Unisin will lead to the integration of the Cariplo pension funds and the defined benefit fund into the Intesa Sanpaolo group's single fund, without any penalties for those involved. Furthermore, the agreement provides for the offering of capitalization options on a voluntary basis. The operation will come into force on 1 January 2026 for workers registered with the defined benefit fund and on 1 January 2027 for those registered with the Cariplo fund and will lead to the creation of an entity with assets under management of over 10 billion euros, the largest corporate pension fund in our country.

"We have reached a politically very significant agreement," says Fabi coordinator in the Intesa Sanpaolo group, Paolo Citterio. "With this agreement, the work of integrating and simplifying the regulatory framework in Intesa Sanpaolo continues. The creation of a single pension fund, obtained after more than a year of negotiations with the unions, has safeguarded the historical protections of members of the various funds of origin."

As Fedele Trotta of First Cisl recalls, this is «the completion of a process that began in 2015, with the merger of the Intesa and Sanpaolo Imi pension funds. The agreement leads to the creation of a single fund, which will include both defined contribution and defined benefit management. It is a fundamental step that ensures homogeneity, efficiency and solidity to the Group's pension system. Above all, maximum protection is guaranteed even for those who are already retired, thanks to a large fund, capable of ensuring sustainability, security and transparency in the long term».