For all civil servants and retirees the social security Government agency fast loan represents a convenient and advantageous financing solution, which continues to be provided by the main social security institution of our country even after Government agency has been absorbed by social security following the DDL 2011 / 201 known as the Save Italy Decree, which provided for the transfer of the functions of what was once known as the National Welfare Institute for Public Administration Employees. Under the cover of the social security Government agency fast loan there are in fact a series of different subsidized loans for public employees and former employees in the public sector who have become retired: below we will analyze the various types of financing, the requirements and the conditions that are basis of the social security Government agency fast loan, which undoubtedly represents the best solution for state employees and former workers in the sector.
What are social security loans
From December 6, 2011, the social security institution Government agency and related functions have been transferred to social security, an acronym that indicates the National Social Security Institute, which has incorporated other similar bodies within it: what we have called social security Government agency fast loan is therefore disbursed by social security through the quotas from the Unitary Credit and Social Services, also known as the Lost Fund, which feeds on contributions from members of the Fund. These loans are low-interest loans that depend on the mandatory levy on the salaries of civil servants in service, according to the following methods expressed in percentages:
- 0.35 per cent for this concerns the Public Employees Management pursuant to Government agency
- 0.80 percent which is added to 0.35 percent as regards the former Enam Magistral Assistance Management
- 0.35 per cent for Poste Italiane Group Funds Management
- 0.15 per cent finally for what concerns public pensioners
To all these deductions must be added the sum generated by the interest rates applied to the credit activities of social security, which provides for the direct disbursement of such loans, but there is also a second way to obtain the social security Government agency fast loan, ie through all those companies financial institutions and credit institutions that offer loans to public employees and retirees on the basis of agreements signed with the social security institution.
Credit access requirements
As we anticipated, the social security Government agency fast loan is aimed at employees and retirees in the public administration, including their families. In summary:
- Subscribers and retirees to the Public Employee Management
- Public workers and pensioners of other administrations registered in the Credit Fund
- Employees of Poste Italiane Group companies
- Subscribers to the Magistral Assistance
- Pensioners adhering to any pension management with the signing of a loan with a salary assignment
How to apply for a fast social security Government agency loan
There are different types of subsidized loans provided by social security and denominated ex Government agency, which vary depending on the purpose of the loan and the capital required: what we have called social security Government agency fast loan is basically the Small social security Loan, which in turn is divided into that reserved for public employees, that for employees of Poste Italiane and associated companies, and that of members of the Magistral Assistance. Then there are the multi-year direct loans and the guaranteed long-term loans, which are also divided according to the type of management to which you are registered, and finally the loan to pensioners, which is paid through the sale of the fifth, and which can also be defined it is a fast loan when it is requested and provided online through the financial companies that operate through the web, reducing waiting times compared to classic financing. To request the social security Government agency fast loan
you must complete the appropriate application forms that can be downloaded directly from the social security website, and which vary according to the type of financing you are interested in. Once the document has been printed and completed, it must be sent to the competent territorial or provincial office ex Government agency, together with the related documentation certifying the identity of the applicant and his financial capacity. In some cases the request can instead be filled directly via the internet, for example through the NoiPa portal.
In all cases the social security Government agency fast loans are always granted within the limits of the financial resources provided annually in the balance sheet of the Institute for credit activity. Obviously if the request is made through a bank or financial institution, for example for the loan to pensioners with a salary assignment, it is necessary to follow the standard procedure electronically or through the branch in the area provided by the single institution.
Small social security Loan
Speaking of the social security fast loan, our attention is focused more on the Small Loan Government agency, as it is still called in most cases, which can be requested by workers and pensioners of the public sector duly registered with the Unit for Credit and Social Services. This funding provides
fixed repayment schedules in 12, 24, 36 or 48 monthly installments, with repayment methods through the assignment of one fifth of the salary or pension. For example, if you choose a repayment plan in 12 installments, you can get an amount equal to a net monthly salary of your annual income, or two months if the applicant does not have other loans in progress, and in this case we speak loan in double monthly installments. The calculation is identical for amortization plans of longer duration, so for a two-year loan you can have two monthly payments or four if you have no other loans in progress, and so on.
The interest rate applied provides for a fixed TAN of 4.25 per cent, to which must be added the administrative expenses quantified at 0.50 per cent and the risk fund premium, the amount of which varies according to the duration of the loan and the age of the applicant, and of which a specific table must be consulted: together these two items are added together concretely in the APR, ie the annual rate including all the costs to be borne by the beneficiary of the loan in addition to simple interest. It is also possible to renew the loan after the minimum amortization period has been exceeded, which is equal to 50 percent of the total repayment period envisaged: therefore, it is 6 months in the case of an annual loan, 12 months in the case of a two-year loan, 18 months for the three-year period and 24 months in the case of four-year funding.
Small Loan Management and Fund Management Poste Italiane Group
What we described in the previous paragraph concerns the Small Public Employment Management Loan, but social security provides two other loans under the same item of small loan: the first of them is the Small Loan Management, a credit service
Loan up to € 60,000 for workers and retirees including bad payers!
reserved for members of the former Enam, and provides for the granting of a capital the amount of which cannot exceed two months’ salary in enjoyment, inclusive of continuous and fixed checks. The amortization plan has a duration agreed in 24 monthly installments, and the loan includes an advance withholding of a quota equal to 1 per cent of the gross amount of the loan for administrative expenses and guarantee fund, plus the amount of interest at an annual rate of 1.50 per cent. Subscribers who must be in active employment and at least two years after retirement can apply for it, and the loan cannot be combined with other small loans.
The other fast social security Government agency loan that falls under this type of loan is the Small Italian Loan from the Italian Poste Group Funds, reserved exclusively for the employees of Poste Italiane Spa and associated companies. To access this funding also
it is necessary to have completed a 2-year seniority service: as in the Small Public Employment Management Loan, the loan is reimbursed on an annual, two-year, three-year or four-year basis, and it is possible to request a total of 1 to 8 months, but for employees of Poste Italiane and associated companies the APR is fixed and is equal to 5 percent. The loan application and the accompanying documentation, which includes a copy of the identity document, the last pay slip and the salary certificate issued by Poste Italiane or by the associated companies, must be sent electronically by accessing the Ipost online services, or by mail to: social security – Central Credit and Welfare Directorate – Credit Performance Area – Via Aldo Ballarin, 42 – 00142 Rome
Loan to social security pensioners
Those who have left the labor market can apply to a financial institution or a credit institution and request a loan with a salary-backed loan taking advantage of the agreement signed with social security, and which provides benefits for members of the former Government agency, Enam and other funds institutions absorbed in 2011 and merged into the social security institution. Pensioners who request such funding from banks and accredited institutions will be able to repay the capital obtained
by means of a direct deduction on the social security check of an amount equal to a maximum of one fifth of the total income received on a monthly basis: the social security automatically carries out on the behalf of the loan beneficiary the monthly charge on the pension of the installments to be returned to the credit institution chosen by the pensioner. The subscription of a loan to pensioners with salary assignment also includes the mandatory stipulation of an insurance policy to protect credit.