Claim TFR - Pension Fund

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 as per your convenience. While signing the contract with your employer, you will be asked to choose any one of the association. If you dont have an idea. you HR can suggest a good one. There are many pension fund associations in Italy. Usually for engineering industries in Torino, COMETA or UILMTORINO are the usual fund associations preferred.

http://www.cometafondo.it/
https://www.uilmtorino.it/fondi-pensione-metalmeccanici/

HOW TO APPLY FOR REDEMPTION OF TFR ? 

• First part will be provided by the employer during the second month after termination.
• Second part has to be applied online directly to the association

You can track the TFR amount 'TFR maturato' every year in your CUD document pg no 5 or 6.

The term used to apply refund - Riscatto TFR

1. Go to link http://www.cometafondo.it/modulistica/riscatti
2. Download the form and fill out the Redemption form
3. Get the signature and seal from your employer.
4. Send it to the association via post

Within 3- 6 months, you will receive the amount with tax decution.

Hope this helps.

Credits:
SANTHOSH MARIAPPAN
Ph No - +32 471751761