Insurance Daily | November 2025
This is the title of the fifth edition of the Edufin Observatory created by FINER for Pictet Asset Management.
The observatory shows that Italians’ savings are increasing, but emotion remains an obstacle to planning for the future. In this context, supplementary pension provision appears to have failed to materialize.
Italians have historically been considered a nation of savers, a skill that will continue in 2025, with a marginal increase of 52%, albeit not accompanied by clear and regular savings planning.
66% of the sample stated that they save for emergencies and for greater financial security. Supplementary pension provision, however, does not meet this need for 82% of those interviewed, and only 1% of the segment with low financial literacy—arguably the most vulnerable—consider it for this purpose. For the future, 56% of the sample counts on the public pension system or on inheritances and family bequests, in a sort of “economic heteronomy” based on a dangerous delegation of their financial destiny.
This attitude is also reflected in financial anxiety, which currently affects 73% of the Italian population. The level of financial anxiety, as was the case last year, is proportional to financial literacy: the poorer the financial knowledge, the lower the perceived economic and financial risks.
The difficulty in “implementing” savings through planned investment practices is explained by the inability to identify the right contact person for 44% of the sample, followed by difficulty assessing the appropriateness of the risk associated with financial instruments for 30%.
The combination of economic and geopolitical uncertainty, a lack of reference points, and fears for the future makes it difficult to manage emotions in investments, which often or always influence decisions for 50% of the sample, with a clear prevalence of negative emotions, such as fear of losses, cited by 68% of those interviewed.
However, the fear of relying on an unprepared professional is sharply declining. The real revolution in Italians’ awareness of managing their future therefore seems to be coming from the supply side, that is, from well-prepared professionals—bank managers, financial advisors, or insurance agents—able to educate their clients on the importance of thinking about their future.
We’re living longer, and it’s crucial to survive on our savings; women are more knowledgeable and aware of this issue (+17%). This is good news, especially considering that, in the largest intra-family wealth transfer, by 2030, women, who on average live longer than men, will control 39% of global financial wealth.
Where men can’t reach, can women reach?
Nicola Ronchetti