INARCASSA is the first pillar pension scheme for all self-employed Italian Engineers and Architects. Following the 1995 refor ... m, which transformed the Defined Benefits Italian pension system into a Notional Defined Contribution, INARCASSA and the other self-employed professional institutions (named Casse di previdenza) have been given the formal status of private institution. In 2013, INARCASSA itself moved to the Notional Defined Contribution system. Covered population has almost tripled since privatization; today members are about 169,000, of whom 30% are under 40. Retirees have tripled as well in the same period to nearly 36,000. Inarcassa provides social protection benefits as well, such as free health care, maternity/paternity and other services and benefits to support profession. Yearly revenues from contributions are around 1 bln euro whereas pensions and social protection expenditures are currently around 700 mln euro. This trend allowed to reach a net income of over 500 mln euro at the end of FY 2018 thanks also to net earnings from financial investments at around 200 mln euro. Assets under management are over 11 billion euro, increased 8 times since privatization. INARCASSA’s Board of Directors has formally adopted an Investment process policy; objectives converge on the search for an efficient risk-return combination that preserves assets but with a level of profitability that is realistic, adequate and compatible with the prudence commitments (asset guarantee) undertaken with its members. read more