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The Cession of the Fifth of the Pension is a particular form of financing dedicated to pensioners. It is an unfinished loan, ie it is not necessary to justify the liquidity request, it is also fixed rate and repaid in monthly installments. Unlike other loans, the monthly installment is deducted directly from the pension by the INPS , until the loan is extinguished.
The Assignment of the Fifth Pension can never exceed 20% of the net amount of the pension, ie one fifth and can have a maximum duration of 120 months, ie 10 years.
The Cession of the Fifth of the Pension is a particular form of financing dedicated to pensioners. It is an unfinished loan, ie it is not necessary to justify the liquidity request, it is also fixed rate and repaid in monthly installments.
The transfer of the fifth of the pension can be requested by all INPS pensioners, former Inpdap and former Enpals .
With Custom Loans it is possible to request the Fifth Loan of the pension also by receiving the disability or disability pension . Here are all the details to request the Assignment of the Fifth of the pension for the disabled .
The Assignment of the Fifth Pension cannot be requested by the holders of social pensions, social allowances and income support, by those who receive monthly allowances for assistance to pensioners for incapacity and allowances to the family nucleus and to the workers next to the pension they receive a service designed to incentivize the exodus from work. Those who instead have the joint pension cannot use them for the part that exceeds the quota due to the applicant
The Cession of the Fifth of the pension has a minimum duration of two years up to a maximum of 10 years .
The maximum amount that can be requested is not fixed but depends on the age of the pensioner and the amount of the pension itself.
One of the advantages of the Cession of the Fifth of the pension is precisely that of being able to be requested even in case of negative reports to the CRIF or protests. It is therefore the ideal solution for all those who are unable to obtain other loans because they have been reported to the central credit registers or databases.
The Assignment of the Fifth Pension does not require guarantees because it is a single signature loan. This means that to request it there is no need for guarantors , guarantees or mortgages, as the pension itself is a guarantee.
In addition, an insurance policy is included in the signing of the Assignment of the Fifth which guarantees repayment even in the event of death, so the residual debt will never be borne by the heirs.
It is absolutely possible to pay off the Fifth Pension Assignment in advance . Details on how to extinguish the sale early are defined in the contract signed at the time of the request. It is therefore good to always read all the clauses before accepting and signing the contract.
The Pension Assignment is renewable from at least 40% of the established repayment period.
If the Fifth Assignment is less than 5 years, it can be renewed at any time.
If several loans are in progress, with the Cession of the Fifth of the pension it is possible to carry out a consolidation of debts , ie the monthly installments of all current loans are unified into a single installment in which it is possible to agree on the monthly amount and the duration of the Cession of the Fifth, thus making the monthly payment lower than the total amount of the previous ones.
To request the Fifth Pension Transfer, it is sufficient to present a copy of the identity document and the health card .
All other necessary documents are processed directly by Tailor- made Loans electronically, without having to request documentation from the relevant bodies.
Traditional loans can be requested by all those in possession of a demonstrable income, are subject to age limits, must pay the installment monthly directly to the Credit Institute by bank transfer, postal payment slip or debit on current account and cannot access the loan if they are reported as bad payers or protesters.
The Assignment of the Fifth of the pension, on the other hand, can only be requested by pensioners, the monthly installment is deducted directly from the pension by the INPS, those who are reported as bad payers or protested, the interest rates are lower and the amounts can be requested. may be larger than traditional funding.