STUDY VISA FOR ITALY

There are 2 types of pension fund TFR - Trattamento Fine Rapporto TFS - Trattamento Fine servizio TFR is the term used in Italy which literally means Post Empoyment benefits or Benefits after termination. Actual meaning is severance pay which is the sum that the employer must pay to his employee upon termination of the relationship, corresponding to the sum of the remuneration amounts set aside or deducted from your salary every month. The TFS instead is the end of service treatment which refers to the retirement. TFR can be applied anytime once you terminate the job and move out of the country. TFS can be applied only after you are eligible for retirement pension. So dont confuse with both terms. WHAT IS TFR : TFR will be divided in two parts. - First part will be saved your employer at the company fund. - Second part will be transferred to an outside fund association. Normally, it will be 20% to 80% of split. If you wish, this division can be chosen a