This isn't IFC, but the Phi Mu Alphas I know all wore their PM pins with whatever they were wearing—whether it was a t-shirt, polo, or button-down shirt.
Our Tau Beta Sigma chapter does something similar.
In my own case, I only ever wore my MIT pin with a t-shirt one time—we had colony t-shirts and did a picture day after our pinning with the t-shirts and the pins. Other than that one occasion, my MIT pin was worn with concert attire or "pin dress" only.
Now, as for IFC, I don't believe it is prevalent where I'm from for the men to wear their pledge pins at all times, and the same goes for our Panhellenic ladies. The main occasions I remember seeing any sort of pledge/new member pins, the people wearing them were dressed up.
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