Who would not want to have the security of perceiving once reached retirement, a monthly allowance foramount at least enough to cover daily expenses.
Who thinks it is still early to think about what the amount will be of the future retirement, however, you are wrong: it is during the years of work, in fact, that you have to take some precautions so as to do not have any nasty surprises once it’s time to retire.
To understand how to secure a higher allowance meanwhile, we need to clarify how the calculation system works. For those who started working after January 1, 1996, therefore for an increasing number of people, the so-called applies contribution system.
This looks at the contributions actually accrued by the worker, and beyond.
1) Aim for higher salaries but without career breaks
In detail, with the contribution system the so-called contribution amount acquires a lot of importance. This is formed by the total contributions which are paid by the worker every year. This is a percentage of the salary for those who are employed, on the annual income for the self-employed worker: 33% in the first case, 25% for the self-employed worker with VAT registered in the Separate Management.
That said, it goes without saying that the more the contributions that can be paid over the years of work e the greater the contribution amount which will then be transformed into a pension. For this reason we must always aspire to higher salaries (but without career breaks) and to be wary of those employers who they do not contract you as they actually should.
Paradoxically it is better to earn less but in Rule rather than more but without a regular contract (it being understood that undeclared work is always prohibited by law). Only with a contract, and with the payment of contributions, you will secure your future.
2) Delays access to retirement for a few years
If you want to have one higher pension you have to consider the idea of delay as much as possible access to the pension. The contributory system, in fact, rewards those who delay retirement by recognizing them a most advantageous transformation coefficient.
In detail, this is that parameter used for transform the contribution amount into an annual pension amount. The longer retirement is delayed, the higher the coefficient: working for a longer number of years, therefore, you are guaranteed to have a higher amount of allowance once you retire.
3) Redeem your degree immediately
Redeeming the years of university study – which led to the graduation – can lead toincrease in future pension. But be careful: this only applies to the ordinary degree redemption system, while it is not so for the facilitated one (which only serves to accrue more years of contributions and access the pension first).
With the ordinary system for the redemption of the degree, however, the years of contributions are valid both for the purposes of determining the right to a pension and for the purposes of calculating the allowance. There is a problem though: to calculate the burden due for the redemption of university years, we look at salary of the last job had. On a salary of 30,000 euros per year, therefore, about 10,000 euros are due for each year of redemption.
For this reason it is worthwhile redeem degree from unemployed, when the minimum amount, equal to approx 5,000 euros for each redemption year. In this way you will have 5 more years – at a cost of 25,000 euros – of contribution (which will be added to the contribution amount) to be counted on the future pension.
4) Move the severance pay to a pension fund
It always pays off move the severance pay to a pension fund instead of leaving it in the company.
In this way, in fact, payments of the entire career are accumulated in a single fund, while this is not the case in the case in which, for example, one often changes company.
Compared to the past, in fact, there is much more propensity to change jobs: this means that for each interruption you will be paid what accrued as severance pay, thus losing the possibility of accumulation.
To prevent this from happening and to have a certain sum available at the time of retirement, it is therefore worthwhile transfer the severance pay to a pension fund. In this way, in addition to the tax advantages, you also enjoy a greater revaluation of the amount paid – thanks especially to the performance achieved with investments – compared to what would have been achieved by leaving the severance pay in the company.
5) Pay into a supplementary pension fund
Regardless of the decision taken on the TFR side, it is still worthwhile join a supplementary pension fund by paying a certain amount each month.
You can – thanks also to the help of an expert – get an idea of the investment you want to make (and above all that it is sustainable) and set a certain figure that every month you will allocate to supplementary pension.
That way, once you retire, you will have not one but one two checks, thus guaranteeing you one higher pension. Even a small investment (but constant over time) is enough; the important thing is to start immediately, so as to pour into the fund for several tens of years.