INPS, default check from July 2024: How pensions are changing

INPS anticipates a shift in the retirement system for many individuals who hold a Social Security check. from July 1, 2024 The National Social Security Institute will activate the announced measures to combat undue payments, while at the same time protecting users from postal interruptions.

Pensions abroad, what’s changing?

INPS will not pay In addition to pensions abroad Through checks. A structural innovation that will be active from July 2024 and will involve more than 300,000 Italians. These are individuals who live in European countries, especially Spain, Portugal, Greece, Malta and Slovakia, and are looking for more favorable social and economic conditions, or outside the European Union.

Their weight on the INPS cabinets is 1.6 billion euros annually. The amount will be paid only through two methods:

• Credit to current account.
• Cash out.

The Institute’s main goal is to avoid what is considered unjustified disbursement. However, at the same time we target different types of postal disruptions, which can cause losses along the way (physical loss of checks).

The aspect that raises the most doubts about this procedure is certainly Cash withdrawal. How it works? The only way to me Retirees abroad To get the amount due this way is to go to no one Western Union counters. Below we explain the procedures in detail.

INPS, virtual selection

It is not a sudden change, which occurs without any prior notice from INPS. In fact, the Institute has taken steps to ensure operational guidance for all Italian retirees residing abroad.

Anyone who chose to move to another European country received… Modulo at Citibank. This is to ensure access to bank data, so that you can follow up on future credits on a regular basis. However, it was expected Maximum time To return this form, ie June 15, 2024. You have been asked to attach a copy of a valid identity document and a document issued by your foreign banking institution, showing the pensioner’s banking details (Bic and Iban, or sort code and account number for UK residents).

Retirees who did not respect this date Obviously there is no expiration risk. However, immediate action is needed to avoid problems starting July 1, 2024:

• Contact Citibank support;
• Guaranteed support through the email address [email protected];
• Guaranteed support through +39 02 6943 0693;
• It is possible to contact local welfare offices;
• It is possible to contact the Central Pensions Directorate’s email address [email protected].

Numbers of pensions abroad

Many overseas pension checks are paid by INPS every year. Specifically, the money sent arrives About 160 countries. In 2023, there were more than 310,000 beneficiaries, in total 1.6 billion eurosaround.

And in the general category it is 2.3% of the total Of the pensions paid by the Institute. Two sections are divided in this group. In terms of pensions in the national system only. On the other hand, however, are international pensions, which therefore combine insurance periods accrued in our country with those accrued in EU or non-EU countries. This is on the condition that they have concluded an agreement with Italy.

Pensions in International system Size is approx 680 milesOf which 36% are paid abroad. In this specific case, the burden is on the INPS coffers 562 million euros around.