It has been spoken and written several times of the salary assignment , as in this article, a loan formula very widespread among employees, which allows you to commit a fifth of your salary as a guarantee to pay the loan installments. However, even retirees can take advantage of this type of loan: in the case of a loan to pensioners, transfer of the fifth INPS .
The sale of the fifth with the INPS was also extended to pensioners, who today have a new possibility of obtaining a loan. The banks are in fact very attentive to the requirements of those who apply for a loan: usually, employees are the most facilitated category, because they can demonstrate a stable income. Retirees also comply with this requirement, however, credit institutions may have some extra hesitation in granting loans to people in old age. The transfer of the fifth with the help of INPS is therefore an opportunity not to be underestimated.
This form of loan requires the requested bank or financial company to receive the installment payments in the form of a retirement pension . This deduction cannot exceed 20% of the monthly pension amount, equal to one fifth of the total. For this reason, this type of loan is called a “fifth assignment”. In the event that the financing is stipulated with INPS support, it will be directly the National Social Security Institute to perform an automatic payment of the installment on the pension.
In order to obtain such a loan, the pensioner must request INPS l to communicate the transferability of the pension . In the event that the bank to which one has addressed has an agreement with the INPS, this communication will take place electronically between the bank and the INPS. The agreement also has the advantage of guaranteeing favorable interest rates for the applicant. This form of salary assignment also requires the stipulation of an insurance policy “for the risk of premature death” and can have a maximum duration of 10 years.
The calculation of the fifth assignment through INPS appears to be quite simple: just consider the monthly pension amount and calculate 20%, which will correspond to the maximum threshold that can be reached by a monthly payment. However, some factors must be kept in mind: the amount to be used to calculate salary-back rates is net, without considering social security and tax deductions. Furthermore, the retirement amount (ie the monthly amount minus 20%) can never be lower than the minimum statutory pension value. Consequently, those who receive a minimum pension cannot access the fifth assignment, because otherwise the remainder would be too low.