Fondi pensione: un'analisi comparata degli effetti derivanti dalla riforma della disciplina fiscale
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This study provides an analysis of the fiscal treatment of pension funds compared to other savings vehicles under both the existing tax structure and the reformed one. Under the existing tax structure, pension plans do not receive a favorable tax treatment compared to the alternatives for all employees. The reform provides an incentive to the demand of pension funds by readjusting the "fiscal competition" of other savings vehicles, mainly life insurance policies; moderately increases the tax benefits that can be gained from pension schemes by employees with a long investment horizon and significantly diminishes the convenience of a lumpsum payment.