Sale of the fifth public employees: conventions or loans Government agency?
The legislator, when he introduced the sale of the fifth, thought precisely of state and public employees. Only after the first decade of 2000 was a further step forward by extending the possibility of access to this form of personal financing, including to public sector employees and pensioners.
Given the form and the operation that it exploits it could not be extended to all categories of workers (with the sole exception of employees with fixed-term contracts, who nevertheless still receive attention from a rather small number of financial and banking companies).
However, to guarantee a fast track to the first recipients of the fifth assignment, diversifications have been introduced above all at the economic level, applying different rates, constantly lower precisely in the case of members of the civil service (armed forces, police, ministerial employees, etc.).
Furthermore, despite the extension of the main features, there are still differences, even of some importance, between employees with permanent contracts in the public and private sectors, which in turn are linked to “solidity” of the employer.
In fact, while in the case of the transfer of the fifth state employees there cannot be a hypothesis of refusal of the loan request, provided that all the necessary objective and subjective conditions are respected, in the case of that for private employees a financial company or a bank can enter into the merit of the financial and patrimonial solidity of the employer (in some cases the possibility of making a request to employees of small companies is excluded).
These assessments can also be made by the insurance company requested for the stipulation of the mandatory policies. Problems that obviously cannot also involve Inps, the former Government agency or the public administrative apparatus.
Main advantages for the “public” sector: from the sale to long-term loans
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The first recipients of the salary-backed assignment did not entirely lose the advantage that was initially reserved only for them. In fact, they enjoy favorable conditions, above all thanks to lower rates (see also Loan rates ), being able to guarantee greater security of employment, total certainty about the employer himself (since they are “public” funds), and enjoying what is generically defined as “transfer of the fifth no Tfr”.
In addition, interest is paid lower than that applied to private individuals, not only because the risk of insolvency is considered lower (a similar condition for the sale of the INPS pension ), but also because very often there are ongoing agreements that allow costs to be obtained lower also among those accessories.
However, if you want to get the absolute lowest rate, you must return to one of the cases for which the Government agency multi-year loan can be requested, to which, at the limit, the “guaranteed” loan is added (but always the result of agreements as it returns to being ‘external’). Obviously, the choice depends on numerous factors, not least the availability of the amounts periodically allocated by the Unitary Management Fund for credit services.
Features and requirements for multi-year loans
In addition to being a public employee, you must also have chosen to voluntarily register with the fund for the management of unitary and credit services. If you had enrolled when you were in work, when you retire you have to decide again whether to register (as a pensioner taking advantage of a discount on your monthly contribution). If you do not register again, the possibility of being able to request direct or guaranteed multi-year loans lapses.
In addition to this condition, you must also have four years of seniority and payments in the Unit Management fund. Finally, it is necessary to verify one of the conditions for which the multi-year loan can be requested (with differences depending on whether it is for five-year or ten-year ones).
Beyond conventions and agreements, the first choice should remain the long-term loan that maintains an off-market rate, with its starting 3.5%.
To these must be added the contribution of administrative expenses of 0.50% and the share of the risk fund (which obviously makes the overall rate paid to those who are younger more convenient, given that the tables provide for rather sustained percentage increases gradually. that advances the age).
On the other hand, the limitations to which we must submit are considerable, above all for the type of use that will be made of the liquidity that is requested, and for the maximum amounts that can be granted, for example in the case of:
- an event such as the birth of a child reaches a maximum of 5 thousand USD;
- car purchase 20 thousand USD;
- home maintenance 30 thousand USD;
- 15 thousand USD removal;
- marriage 23 thousand USD;
- home purchase (but it is not a mortgage and therefore would not benefit from the deduction of interest) 150 thousand USD.
The maximum sums that will be granted depend in turn on the double constraint that is given: by the maximum sum that could be granted, and the amount of the installment that can be returned, which in turn cannot exceed one fifth of the net salary.
However there are agreements that are less “strict” in the possession of the necessary conditions and for the absence of the purpose of use, and therefore to be taken into consideration also to make a mere comparison of different estimates.
If you do not want to renounce the advantages of a “favorable” economic treatment then the middle way (also quite easy to go) remains that of the narrowly defined conventions, that is addressed to a specific target. In these cases it is only necessary to contact the authors of the agreement or the informed persons, and always openly express the will to want to make use of the conditions of the agreements, which in most cases are not automatically applied. Obviously it is a priority to start from a quote to compare with the “conditions” not facilitated so as to have the certainty, and the proof, that what is advertised as something facilitated also in the facts is.