After two years of membership, workers will be able to transfer the position to another fund or a PIP and continue to receive payments from the company. Here’s what changes and how to move
Changing direction when you are enrolled in a professional pension fund meant, until now, almost always giving up the money paid by your employer. From 31 October 2026 this will no longer be the case. With the portability of the employer contributionforeseen by the 2026 Budget Law and postponed from July after the Pnrr decree, the worker will be able to choose another fund and continue to receive the company’s share. One restriction remains: you must have been registered for at least two years.
Employer contribution: what it is and how much it is worth for the supplementary pension
In addition to the severance pay and the employee’s payments, a sum contributed by the company can also flow into the pension fund. It is called the employer’s contribution and its amount depends on the collective agreement. In the metalworking sector, for example, 2% of the contractual minimum is valid (2.2% for newly registered young people under 35), while the worker is asked for 1.2% of the tabular minimum. It is not seen on the pay slip, because it goes directly to the social security position and increases the future income. Giving it up, therefore, meant losing a concrete advantage.
Pension fund portability: what changes from 31 October 2026
Until now, those who changed funds took with them the money already accumulated and the future severance pay, but the company’s contribution remained linked to the fund indicated by the collective agreement. From October 31st this restriction expires: after two years of registration you can move towards another trading fund, an open fund or a PIP (individual pension plan), and the company will have to pay its share in the chosen form, even if the contract provides otherwise. The transition does not involve taxes and the starting fund cannot hinder it with excessive exit costs. The reform strengthens freedom of choice and also competition: to attract members, the funds will have to focus on low costs, good returns and better assistance.
How to change pension fund: what to check first
Before moving it is convenient to compare the costs and results of the fundsalso with the indicators reported in the information documents and on the Covip website, the supervisory authority. Once decided, just contact the new fund, which will initiate the transfer and follow most of the procedures. Three warnings: the two years of membership must have actually been completed; convenience also depends on commissions and management performance, not just on the contribution; in the first few weeks some funds may still be in the process of adjustment. Covip has in fact given time until 30 June 2027 to complete the changes, so slowdowns cannot be ruled out.
