Pensions, BCC-CRA fund, in 2024 the assets exceeded 3 billion euros

Rome. The Annual Assembly of Delegates of the National Pension Fund for the Staff of Cooperative Credit Banks, Rural and Artisan Banks (BCC-CRA) was held.

During the meeting, the financial data and the results obtained by the Fund in 2024 were illustrated, which confirmed the solidity and continuous growth of the pension structure.

The Board of Directors' report revealed that in 2024 the Fund's assets exceeded 3 billion euros, recording an increase of 5,393% compared to 2023, going from 2.923.452.139 to 3.081.107.767 euros. The number of members also increased, from 33.421 to 34.260 members.

The Fund has always maintained a positive cash flow: from 1987 to today, contributions have consistently exceeded the benefits paid, reaching a balance of over 2024 million euros up to 57. In 2024, the Harvest sector recorded a performance of +3,38%, the Growth sector of +2,92% and the Sowing sector of +3,97%.

“The world of BCCs – stated the Undersecretary of the Ministry of Economy and Finance, Federico Freni – reminds us of the value and respect for the economic needs of the territories. These are realities that represent the backbone of our country's economy.

It is the task of politics to create the necessary conditions to attract investments, that is, to promote a market capable of generating returns. From this perspective, the investment policy of pension funds must be rethought so that small and medium-sized enterprises can also benefit from it.

The growth of pension funds - he continued - is built through sensible development strategies, capable of producing positive impacts at a local level. The capital market reform that we are launching aims precisely to simplify access to investments, also through a review of the current sanctioning system".

“Pension funds are set to experience significant growth,” said the President of the Senate Finance and Treasury Committee, Massimo Garavaglia – also for cultural reasons. In fact, since 1996, pensions have been based exclusively on contributions actually paid. If we analyze the current situation in Italy, the real risk emerges that many people will reach the end of their working career with an insufficient pension. It is therefore essential to promote effective communication that favors the spread of a true pension culture”.

“Savings generate investment,” he also said, “and investment in turn fuels new savings: a virtuous circle that works even better if rooted in the real economy. I extend my most sincere wishes for good work to everyone, since the challenge you are facing is of great importance.”

“In 2024 - he highlighted the President of the National Pension Fund for BCC-CRA Staff, Osvaldo Scalvenzi – the Italian supplementary pension market continued to grow, albeit at a moderate pace compared to previous years.

Membership of pension funds is constantly increasing, but there remains a lack of awareness among citizens regarding the importance of building a supplementary pension.

There have been positive signals, particularly in the sector of occupational funds and individual pension schemes, but it is still essential to invest in awareness-raising and promotional activities to make people understand the real advantages of supplementary pensions and guarantee a more peaceful future for workers".

“In this scenario,” he continued, “our Fund has reaffirmed its commitment to offering increasingly sustainable and transparent pension solutions, focusing on high quality services to meet the needs of a continually growing group of members.”

“We are proud of these results – the words of the General Manager of the National Pension Fund for BCC-CRA Staff, Giuseppe Longo – which confirm the validity of the choices made and strengthen our commitment to prudent and effective management.

The investment strategy is confirmed to be highly diversified, with a portfolio that ranges from renewable energy to the space economy, from social & student housing to the silver economy, also including sectors such as food & beverage, made in Italy, digital, blockchain, Healthcare and residential healthcare facilities. The Fund's priority remains the constant attention to transparency and solidity in the management of pension resources to protect members".

“The granting of credit - concluded the President of Federcasse, Augusto dell'Erba – represents a natural vocation for us. In Italy, cooperative credit is an essential component of the banking system.

It is a growing sector and we welcome the attention shown by the Government. The country needs private investment, in this sense, we must acquire full awareness of the role that our sector .

As of December 31, 2024, the Fund has over 13 thousand positions in its portfolio, divided between direct and indirect management. Management results have been very positive over the years:

– Collection Sector: average annual return 1,80% over the last 5 years (benchmark 1,12%) and 1,96% over the last 10 years (benchmark 1,59%).

– Growth Sector: average annual return 2,38% over the last 5 years (benchmark 2,27%) and 2,74% over the last 10 years (benchmark 2,5%).

– Semina sector: average annual return 3,65% over the last 5 years (benchmark 4,02%) and 3,81% over the last 10 years (benchmark 3,67%).

The financial management margin at the end of 2024 stands at 117.745.006 euros, while the pension management balance exceeds 57 million euros.

The Annual Assembly of Delegates of the National Pension Fund for the Staff of Cooperative Credit Banks, Rural and Artisan Banks (BCC-CRA) was attended, among others, by President of the Board of Auditors, Martina Malalan and representatives of trade union organizations, Luca Bertinotti, Fabi national team, Gianluca Pernisco, head of CooperFirst, Riccardo Sanna, national secretary of Fisac ​​Cgil, Giuseppe Del Vecchio, national secretary of Uilca and Domenico Pota, national secretary of Ugl Credito.