Italy: the supplementary pension fund law is finally complete

Article Abstract:

The Italian government has approved a new pension fund law to serve as a mechanism for both employees and employers to cope with benefit deficiencies on July 1997. The 124/93 Law, which was passed on April 93, contains new pension regulations including the division of pension funds into 'open' and 'closed' classes, a taxation treatment for payments made to and from a pension fund, and the creation of a new regulatory authority to oversee old and new pension funds. Law 335/95 was passed in August 1995 to make up for the inadequacies of Law 124/93.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Pension & Benefit Regulation, Italy

Eastern Europe: how supplementary retirement provision fits into the new philosophy

Article Abstract:

Eastern European countries such as the Czech Republic and Hungary have decided to privatize their state pension systems to ensure financing and wider participation for these schemes. Both countries have passed laws allowing the establishment of supplementary pension institutions to augment the basic pension system available from the state. Mutual funds have been created that are not dependent on state finance but whose benefits are also taxable.

Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Social Security, Eastern Europe

Coping with local taxation limits on retirement savings

Article Abstract:

Multinational firms use a number of methods to deal with countries' often differing limits on tax-assistance of retirement savings. The policies governing limits on retirement savings in the UK, the US, France and Canada are analyzed. Canada is especially problematic since government support of retirement income is low. The tax policy is attributable to the desire of governments to increase short-term tax income.

Salary reduction savings plans, 401K plans