On Jan. 16, ITA Covip issued circular to pension funds re 2024 data.
ITA Covip issued Circular 178 of Jan. 14, 2025 on request for information and documents for year 2024 from pension funds.
Overview
Recalls Decree of Jun. 2012 regulates methods by which ITA Covip reports to Ministries of Labour, of Economy results of control activity on investments of financial resources, composition of assets of social security entities-DLgs 509/1994 and 103/1996.
In particular, art 2.1 states ITA Covip must annually (by Oct. 31) send to ministries report re each institution, establishing at same time specific profiles to be addressed.
Reporting activity requires availability (for each entity) of information mainly re investment policy, implementation criteria, process of using resources and financial management control system, data re composition of assets held, related profitability.
ITA Covip to collect information via report concerning various profiles contemplated by the cited decree (per specific instructions, available online, attached to circular).
Then to send relevant documents of particular interest (e.g. internal documents on such profiles, asset-liability management analyses, reports prepared by various subjects involved in financial management control system).
Also, of data referred to in previous point, via what is required by Manual of statistical reporting and supervision of social security entities per DLgs 509/1994, 103/1996.
That, as referred to in Circular 172/21 of 2021 (available on ITA Covip website).
Information Request
Entities must send within deadline set by Manual to send aggregated, disaggregated data (i.e. Mar. 3), report containing information relating to various profiles highlighted in the instructions prepared (plus the documentation referred to by the latter).
That, with exception of those referred to in art 2.1d), of decree of Jun. 5, 2012 on result of financial management for the reference year.
The latter information (also containing evidence of positive or negative factors that contributed to determine result of financial management, initiatives undertaken re events that had negative impact), being strictly connected to closing of balance sheet.
The data must be provided by deadline to send tables I.6, I.7, I.8, I.9, I.10 (Jun. 3).
On that occasion, requested documents (i.e. asset-liability management analysis, reporting used for purposes of controlling financial management) must also be sent in latest version re reference year i.e. 2024, if these not yet available at time of sending.
Recommends to respect indicated deadline and to provide information, documents requested following indications given in file containing instructions for preparing report.
Effectiveness
Submission deadlines are Mar. 3, 2025 and Jun. 3, 2025, as detailed above.
