The Credito Valtellinese banking group appointed as Distributor of the Open End Pension-Funds of Assicurazioni Generali named "Previgen Global" and "Previgen Valore"
Sondrio, 7 may, 2007 - Credito Valtellinese banking group, through its subsidiary Global Assicurazioni, leading insurance intermediary on the domestic market, entered into an important partnership agreement with Gruppo Generali, undisputed leader of the domestic insurance and welfare industry, for the distribution of the open end pension funds "Previgen Global" and "Previgen Valore".
The agreement will combine the strength and qualified expertise of Assicurazioni Generali, acquired in over 175 years of business in the insurance industry, with the distribution capabilities and well established local presence of the Credito Valtellinese Group.
These two products, whose regulation, reflecting the amendments required under the applicable law, has already been approved, amongst the first in Italy, will integrate the vast range of products offered by the Banks of the Group in the Social Security savings industry.
The two Funds, sponsored by Assicurazioni Generali spa, are designed to meet the need to integrate the public pension benefits with a supplementary pension scheme, so to keep as much as possible the standard of living after the end of their working life. This represents a particularly interesting opportunity in the light of the new rules on the contribution of the TFR (Trattamento di fine rapporto or severance indemnity) to some forms of supplementary pension insurance.
Previgen Global, in particular, is an Open-end Pension Fund designed for those companies intending to offer a straightforward and effective supplementary pension scheme. This Fund, in fact, is aimed at collective schemes and allows both the employer and the employee to benefit from the preferential tax treatment and other facilities provided by the current applicable law.
Whereas Previgen Valore is aimed not only to employees, but also to self-employed individuals, intending to integrate their public pension with a supplementary pension benefit.
Both the aforementioned products give the participant the possibility to invest his/her contributions in different funds, selecting the risk/yield profile more suitable to his/her risk attitude or to the expected time period of the contribution.
Michele De Dosso