Types and main general characteristics of the small social security loan ‘ex Government agency’
The small Government agency loan has “transformed” into one of the types of small social security loans , adding to that for employees of the Italian Post Office (former Ipost management) and associated companies. Between these two types of “small loan” there are common characteristics, which focus mainly on the criterion adopted for determining the maximum amount that can be requested and on the timing. In both cases, in fact, these are loans to be obtained within acceptable times to deal with more or less sudden emergencies.
Regarding the monthly payments that determine the amounts that can be requested and the duration of the eligible repayment plans, calculations are made on fixed multipliers, starting from a minimum of 12 installments, to reach a maximum of 48 installments. Below we see who can access it, how this calculation takes place and what determines the difference between the 12 installments or a greater number, up to the maximum that can be requested.
Small Government agency loan (social security ex management Government agency)
As mentioned the small loan is, in principle, repayable in a relatively short time. However, the limit of the sums payable remains in function of the availability of the sum that was put on the balance sheet. What does it mean? That the amount requested will be paid until there is coverage by the fund set aside specifically to grant this type of financing which, we recall, cannot be requested by anyone, but only by those who have specific requirements. In particular, the small loan can always and only be requested by public administration employees (including carabinieri and law enforcement in general) who are also registered with the unitary credit and social services management . So if you are a public employee but you don’t have this second requirement, you can’t request it.
Characteristics and duration of the small Government agency loan
Going into detail, the amount that can be requested is conditioned by the monthly payments received and by the duration of the repayment period chosen, which as mentioned above ranges from a minimum of 12 to a maximum of 48 installments, and is addressed to both workers and pensioners. Even more in detail the loan can be equal to:
- one month for repayments in 12 installments;
- two monthly payments for repayments in 24 installments;
- three monthly repayments in 36 installments;
- four monthly repayments from 48 installments.
The monthly installments that can be requested can be doubled if there are no other forms of loan in progress as a salary or pension transfer (so go from 1 to 2 in the case of repayments in 12 installments, from 2 to 4 for those with 24 installments, and so on, up to a maximum of 8 monthly payments).
It is possible to request a renewal for half of the previous periods (6 months for the 12 months, 12 months for the 24 months, 18 months for the 36 months and 24 months for the 48 installments). The increase in the number of installments does not lead to an increase in the rate applied which remains fixed for each duration and is determined periodically (for example, in January 2019 it is at 5% – Source: social security official website).
To better understand how we work, let’s take a couple of examples, starting from the same assumption, namely that of a public employee enrolled in the unitary management, who receives a net salary of 1500 USD per month. Nb These simulations were made with the official calculator provided by the social security site on 4 January 2019 which, however, is not updated as offered rate (4.25% instead of 5%).
It is decided to repay the amount requested in 12 months. So how much can you get? The small Government agency loan will be equal to 1500 USD, and for each month (according to the simulation offered by the tool on the social security website) you would pay an installment of around 127 USD (with the rate used in the tool at 4.25%) ;
It is decided instead to repay the amount requested in 48 months. So the small Government agency loan can be equal to 6,000 USD and for each month (according to the simulation always offered by the tool on the social security website) you will pay an installment of approximately 136 USD (as you can see the rate used in the tool is always at 4.25%).
Attention: the social security simulation tool can be used by anyone, not needing to register or insert pins. On the other hand, it can only offer summary indications, since it is not always updated, as can also be seen from the examples given. To get a real indication of the installment you will pay, you must proceed with the calculation within the personal area, using your credentials .
Economic conditions and how to apply for small loans Government agency
Early termination can be requested at any time without penalties and with compliance with relatively short technical times. The rate applied is equal to: Tan5% (in January 2019), plus administrative expenses of 0.50% and the related risk fund premium. The application must be made electronically and can be advanced, as well as following the forms and channels made available by social security, also through the Noipa self-service area .
To use the NoiPa self-service, accessible at any time, you must have:
- the credentials for accessing the NoiPA portal, which consist of the tax code and the password chosen, with the addition of the personal pin to validate the various provisions; entering the data of the National Service Card;
- a bank or postal current account on which the salary is paid and where the installments will be charged.
Time and processing of the practice
The times indicated on the NoiPa website speak of a timing that can range from 45 days to 60. Any delays can be due to various factors and in any case through the self-service area you can always see the processing status of the case, request information or receive updates such as:
- Protocol number portal;
- Practice number;
- date of request;
- amount Small Loan social security ex Government agency Required;
- Rate Number;
- State of Practice.
For this last item you can find the following wordings:
- in progress: request sent and registered but not yet transmitted to the system or not yet booked;
- wrong request: request sent and processed but not accepted;
- renounced: request sent and withdrawn by the user;
- incorrect waiver: cancellation request not successful;
- Request canceled: request for cancellation of the request by the applicant;
- request rejected: request analyzed by social security – management of former Government agency but not authorized;
- amount disbursed: authorization and payment of the requested amount.