The government has approved the decree which introduces the 100 quota on pensions. Basically, it means that from this year and until 2021 it will be possible to stop working with at least 62 years of age and 38 of contributions. However, this is not the only thing written in the decree: there is no shortage of stakes and the exit windows are differentiated between private sector workers and public employees.
The key points of the new legislation are summarized in this video.
Among the news of the last hour there is the one concerning the severance pay (or Tfs) of the state. From this year, all public workers who choose to retire (not just with the 100 quota) will immediately receive severance pay, even if not in full, but up to a maximum of 30 thousand euros. The advance will come thanks to a bank loan on which the state will pay 95% of the interest. Before this correction, the legislation provided that the state had to wait up to two years before collecting the severance pay. For those who choose quota 100, consequently, the wait risked being extended up to a maximum of seven years.
As far as coverage is concerned, the State Accounting Office has demanded the inclusion of a safeguard clause. If the funds allocated for 100 (22 billion over the three-year period, of which less than 4 in 2019) prove insufficient to meet the requests, cuts will be triggered in the Ministry of Labour. If even these are not enough, linear cuts will affect all ministries. In the worst-case scenario, it will lead to a tax increase.
According to Matteo Salvini, the 100 quota will bring "one million releases in three years". The Northern League deputy prime minister then assured that "no one will be denied this right to a pension: the money is there or we will find it, they will need more".
HOW LONG DO I HAVE TO WAIT TO RECEIVE THE PENSION WITH FEE OF 100?
Those who met the requirements in 2018 will receive the pension from April.
All the others however, i.e. workers who reach the minimum age and contribution thresholds after 2019 January XNUMX, will start collecting their pension three months after having accrued the requirements.
WHAT IS CHANGING FOR PUBLIC EMPLOYEES?
For state-owned companies, exit windows have a less advantageous cadence. Public employees who meet the requirements by 31 January 2019 are entitled to a pension from 1 August, while those who do not fall within this window will cash their first check six months after the requirements have accrued.
UNTIL WHEN CAN IT BE POSSIBLE TO RETIRE WITH THE 100 FEE?
The measure is being introduced "on an experimental basis for the three-year period 2019-2021". In three years, therefore, the government will evaluate whether to confirm the legislation, modify it or eliminate it.
CAN YOU EVEN RETIRE WHEN YOU ARE LESS THAN 62, PROVIDED THE SUM WITH THE YEARS OF CONTRIBUTIONS IS 100?
No. The age requirement (62 years) and the contribution requirement (38 years) are two minimum thresholds to be met at the same time. Consequently, those aged 63 will retire with a quota of 101 (63+38), while for 64-year-olds the bar will rise to 102 (64+38) and so on.
THOSE WHO RETIRE WITH A QUOTE OF 100 RECEIVE A LOWER ALLOWANCE?
The decree does not provide for penalties, but those who retire with a quota of 100 pay fewer years of contributions, so it is clear that they will receive a lower allowance than the one they would have collected by stopping work later, with a normal old-age retirement. According to the Parliamentary Budget Office, the cut of the check is around 5% in the case of an advance of only one year, but rises to over 30% if the advance is 4 or more years.
CAN WHO RECEIVES THE PENSION WITH THE QUOTA OF 100 WORK?
No. The pension collected with the 100 quota cannot be combined with income from work. The only exception is for income deriving from occasional self-employment, provided that it does not exceed €5.000 gross per year.
However, the ban does not last forever: it remains in force "until the requirements for access to the old-age pension are met". That is, under current rules, up to age 67.
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