Overview
- The rule took effect on Wednesday, July 1, 2026, and automatically enrolls new private‑sector hires (excluding domestic workers) in the collective pension fund tied to their contract.
- If no contractual fund exists the default is Fondo Cometa, and enrollments begin on the worker's first day with a 60‑day window to opt out.
- Under the change, the accruing TFR (severance pay) plus employer and any worker contributions flow into the chosen fund and are invested in lifecycle profiles based on age and time to retirement.
- Worker contributions are not compulsory when annual pay is below the 2026 INPS social allowance threshold of €546.24 per month for 13 months and the government has promised tax incentives to encourage transfers to funds.
- A second implementation step to allow portability of employer contributions to open funds was slated for October 31, 2026, but officials are considering moving that start date to January 1, 2027 to give administrators time to prepare.