The pension fund market - Italy

Since 1993, pension funds have been introduced in Italy as supplementary forms of retirement provision to the mandatory public pension system. There are two types of pension funds: closed pension funds, reserved for specific occupational categories, and open pension funds, aimed mainly at the self-employed and the self-employed. Pension funds operate on the principle of individual capitalization, where the final benefit depends on the contributions made and the financial management of resources. Pension funds represent a category of institutional investors with a long investment horizon. In the current context, it is important to understand their role in financial markets and their impact on economic and social development.[Social security itineraries] The market size, as measured by turnover, of the global pension fund industry is estimated at $4.5 trillion in 2023, with an expected growth of 4.7 percent from 2022. The market grew at an average of 5.2% per year between 2018 and 2023.[Ibisworld] This study focuses on the retirement fund market, providing an overview of key trends, opportunities, and challenges. For information on related markets, such as the life insurance industry, please refer to the specific studies available in the businesscoot catalog.