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TFR: If you switch you are lost
Investing your end of work lump sum in shares and bonds has not been a good idea. Luckily 60% of the workers in the private sector have not listened to the Sirens of the private insurance sector and they have done well. Beppe Scienza explains why. Dear Beppe,Its good to know that I have given good advice. Above all, that way they cant accuse you of just denouncing things without ever making concrete proposals. The recent falls in shares and bonds show how appropriate it was to keep your TFR. www.beppegrillo.it/eng/2007/06/tfr_muttering.html).Basically the referendum to get rid of the TFR did not get through: more than 60% of the private sector workers chose not to do without it. Newspapers and TV invited them to listen to the politicians and the economists who were friends of the private insurance sector. Instead, the Italians, (rascals that they are!) to a large extent disobeyed Cesare Damiano, the Minister of Labour and the former director of the pension fund, they disobeyed...