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The short answer
Moving to Nigeria is not, by itself, one of the grounds COVIP lists for redeeming a fondo pensione. A total riscatto is allowed for loss of the participation requirements (for example when the job that gave access to the fund ends), unemployment over 48 months or permanent disability, and a 50% riscatto for unemployment of 12 to 48 months. Tax is 15% falling to 9% for those grounds, and 23% for redemptions for other reasons.
A fondo pensione is Italy's supplementary pension: a fund you, and often your employer, pay into, sometimes with your TFR. When you plan to leave Italy, the question is whether you can take the money with you as a lump sum, or whether it stays invested until retirement. COVIP, the Italian pension fund supervisor, publishes the general rules; the details are in your own fund's regulations.
When you can redeem (riscatto)
COVIP's FAQ on benefits lists:
| Ground | How much |
|---|---|
| Permanent disability reducing working capacity to under one third | Total |
| Unemployment for more than 48 months | Total |
| Loss of the requirements for membership (for example, dismissal or end of the employment that gave access to the fund) | Total |
| End of work with unemployment of 12 to 48 months | 50% |
| Mobilità, redundancy, cassa integrazione | 50% |
Unemployment-based riscatto counts only if the unemployment began after you joined. COVIP's page does not mention moving abroad. In practice, what matters is usually whether leaving your job means you lose the requirements for membership of that particular fund: a closed, sector fund tied to employment works differently from an open fund you joined individually. Ask your fund in writing which ground, if any, applies to you.
Advances (anticipazioni)
If riscatto is not available, an advance may be. COVIP lists up to 75% for serious medical expenses for you, your spouse or children, at any time; up to 75% to buy or renovate a first home for you or your children, after 8 years of membership; and up to 30% for other needs, after 8 years. Total advances cannot exceed 75% of your position, and they can be repaid. Whether a first home in Nigeria qualifies under your fund's rules is a question to ask the fund directly.
How it is taxed
COVIP's tax FAQ gives these rates on the taxable part:
| Payment | Tax |
|---|---|
| Pension, or riscatto for disability, death, unemployment of at least 12 months, mobilità or cassa integrazione | 15%, reduced by 0.30 points for each year of membership beyond 15, to a minimum of 9% after 35 years |
| Riscatto for other reasons | 23% |
| Advance for medical expenses | 15% to 9% |
| Advance for a first home or other needs | 23% |
Worked example (illustration only)
You have a taxable position of €20,000 after 10 years. A riscatto that falls under one of the 15%-to-9% grounds is taxed at 15% (you have not passed 15 years), so €3,000 tax and €17,000 paid out. A riscatto for another reason is taxed at 23%, so €4,600 tax and €15,400 paid out. The €1,600 difference depends entirely on which ground applies.
Leaving the money invested
You do not have to redeem. Staying invested keeps the fund's lower tax on returns, 20% (12.5% on government bonds) compared with 26% on most other financial savings, according to COVIP, and contributions were deductible up to €5,164.57 a year while you paid in. At retirement age the pension is taxed at 15% to 9%. Ask your fund whether it can pay benefits to a bank account abroad, and keep your contact details current; NiDCOM's 2026 diaspora tax guide says foreign pensions are not taxed in Nigeria unless they relate to work in Nigeria, but check how a lump sum is treated before you plan around it. See also the INPS state pension when you retire to Nigeria.
Timing your move
The order of events matters. If the ground for riscatto is the end of your employment, the request usually follows the end of the job, and the fund will want documents such as the termination letter. Sending those from Lagos is slower than from Milan or Rome. Many members make the request, or at least get the fund's written answer, in the weeks before departure, and keep an Italian address or a trusted contact for post until the payment arrives.
Questions to ask your fund before you leave
- Does ending my employment mean I lose the requirements for membership, and does that allow a total riscatto?
- Which tax rate would apply to my riscatto, and on what amount?
- Can I stay a member while living in Nigeria, and can I keep contributing?
- Can you pay benefits or a riscatto to a bank account outside Italy, and in which currency?
- How do I prove my identity and sign requests from abroad?
Your TFR left with the employer has its own rules: see TFR when moving back to Nigeria. This is information, not tax or financial advice.
Where Pryme fits
If your fund pays out in euros to an account in your name, a Pryme account with EUR account details can receive it and keep it in euros until you decide to convert with Swap. The app shows the rate and the fee before you approve. Pryme accounts can be opened from Italy before you move.
Questions people ask
Can I withdraw my Italian pension fund if I move to Nigeria?
Moving abroad is not itself a ground COVIP lists. A total riscatto is possible if you lose the requirements for membership, for example when the job that gave access ends, or on long unemployment or disability. Ask your fund.
What tax do I pay on a fondo pensione riscatto?
15% falling to 9% for grounds such as unemployment, disability or death, and 23% for riscatto for other reasons, according to COVIP.
Can I take an advance from my fondo pensione to build a house in Nigeria?
COVIP allows up to 75% for a first home after 8 years of membership. Whether a home abroad qualifies depends on your fund's rules.
Can my Italian pension fund pay me in Nigeria?
Ask the fund whether it pays to foreign accounts. Many members keep a euro account to receive the payment.
Sources
- COVIP: FAQ, prestazioni della previdenza complementare (undated) · accessed Oct 2026
- COVIP: FAQ, trattamento fiscale della previdenza complementare (undated) · accessed Oct 2026
- NiDCOM/NGEX: Diaspora guide to Nigeria's tax reforms 2026 (Jan 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.