THEThe Government is trying to find a square on the pension reforman issue that affects a large portion of the population particularly close upon leaving the world of work: while we await the definitive decisions, we can also begin to reflect on the other tools which allow, whatever the parameters decided by the Executive, to anticipate access to the pension or in any case to increase the amount.
Redemption of degree for retirement purposes
There is certainly one of them the redemption of the degree. This instrument, through a charge which is borne by the interested party, the cost of which varies according to the circumstances, allows you to increase the years of contributions. And therefore to shorten the time to be able to see the INPS check debited. But let’s understand better how it works.
What is the redemption of the degree
The redemption of the degree allows the ordinary years of one’s university study program to be used for retirement purposes
The first thing to know is that this tool allows you to valorise the ordinary years of one’s university study course for retirement purposesor to be able to use them in calculating the future Inps pension.
However, this will be possible only if the qualification has been obtained and through the voluntary payment of a variable amount depending on a series of factors.
It is possible too redeem the degree, doctorates and post-graduate diplomas obtained abroadif the qualification has legal value in Italy.
However, they cannot be added to the calculation the years of university in which you worked with a stable contract.
What other periods of study can be redeemed
That said, it’s just as important to know that in addition to the degree, the years of training can also be redeemed. But in certain cases
- legal periods for obtaining university diplomas (the courses must have a duration of no less than 2 years and no more than 3) and university degree diplomas prior to 1999 (the courses must have a duration of no less than 4 and no more than 6 years)
- post-decree 509/1999 university degrees (i.e. three-year and specialist degrees)
- post-graduate specialization diplomas lasting no less than 2 years
- some PhDs
- diplomas issued by institutes of higher artistic and musical training
When it’s most convenient to do it
The cost to redeem the degree is not fixed, but changes based on the amount of the worker’s allowance. In fact, it depends on the salary received at the time of the application.
In general, the earlier the request is made, i.e. before the salary reaches large amounts, the more convenient it becomes.
Still the request sent by unemployed people is more advantageous who have not started working and are not enrolled in any compulsory form of social security.
What’s new for 2023
Equally important the recent message from the social security institution in which he provided a series of indications and insights on the new redemption of the degree which will be valid for the entire year 2023.
At the moment, in fact, the burden on the taxpayer intending to benefit from the redemption of the degree is determined through the regulatory framework which currently regulates the payment of the pension.
This happens regardless of the type of pension calculation system which will be decided to apply at the time of the request for the pension, which can be retributive or contributory.
How the calculation of the redemption of the degree changes
In 2023, however, for the purpose of calculating the redemption, it will be necessary to distinguish between two different types of periods, i.e. the periods to be redeemed placed in the pension pay system and the periods to be redeemed placed in the contribution system.
As regards the former, for citizens who will request the redemption of their degree, the periods of which will be considered in the pension pay system, the burden that will have to be borne varies by age, redemption period, recent wages, and gender.
On the other hand, as regards the periods to be redeemed that fall within the contribution system, in this case the burden linked to the redemption of the degree it is calculated by applying the tax rate in effect at the time of the request date to access the degree redemption.
How to do the simulation
To verify whether or not it is convenient to proceed with the request for the redemption of the degree, the INPS has made available an online simulator on the portal That integrated the so-called “mathematical reserve”.
That is the calculation to be done with the new rulesalso evaluating the effects of a possible transition to the contributory system.
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