The president of INPS Pasquale Tridico has relaunched the possibility of redeeming the study years at the university for free, taking the German model as an example. According to INPS, the measure could cost around four billion per year.
The redemption of the education makes it possible to convert university years into contribution years and therefore integrate the contribution-obligated position for the purposes of entitlement and pension calculation.
The contribution that must be paid changes in relation to the rules for payment of the pension according to the contribution or salary system.
1. Redemption in the contributory system:
To redeem periods that are part of the contributory system (ie from 1 January 1996), the fee is determined by applying the contribution rate in force on the date of submission of the application to the remuneration (depending on contribution) in the minimum remote 12 months remaining from the month of submission of the redemption request.
Example Ordinary contribution calculation
Let’s assume that you want to redeem four years of graduation from 2002 to 2006 in the Lønmottagernes Pensionskasse, and that you have submitted an application for redemption on 31 January 2021; considering a gross salary for the last 12 least distant months of € 32,170.00, the amount to be paid to redeem four years is 42,464.40 euros (32,170.00 × 33% = 10,616.10 x 4 years = 42,464.40).
Facilitated graduation redemption
With facilitated degree redemption the costs, on the other hand, are determined on the basis of the minimum amount for craftsmen and traders in the year the application is submitted, and on the basis of the rate for calculating pension benefits for the same period in the Wage Earners’ Pension Fund (FPLD).
Therefore, if you apply in the year 2021, the price to redeem one year of the course is €5,264.49. The price is the same if you apply as a vacancy. Depending on the case with the facilitated redemption the savings can be up to 70%.
2. Redemption in the remuneration system:
To redeem periods that are part of the salary system, the size of the amount to be paid varies according to age, redemption period, gender, the total length of the contribution and salary in recent years.
You will only be able to benefit from the subsidized redemption (also for courses before 1996) if you choose payment of the pension with full contribution calculation.
You can redeem the periods corresponding to the duration of the legal university studies, after which you have obtained one or more qualifications issued by universities or institutes at university level:
- university degrees (courses lasting a minimum of two years and a maximum of three)
- bachelor’s degrees (courses lasting no less than four years and no more than six)
- special diplomaswhich is obtained after graduation and at the end of a course lasting at least two years
- research doctorates whose courses are regulated by special legal provisions
- bachelor’s, master’s and master’s programmes
- diplomas issued by the Institute for Higher Education in Art and Music (AFAM).
Years not included in the course are excluded. It is also possible to redeem only a part and not the whole study.
The application can be submitted exclusively electronically, through one of the following channels:
- www.inps.it with the following path: “Performance and services”> “Services”> “Redemption portal – vote” (with access via SPID – Public Digital Identity System or National Service Card or 3.0 electronic identity card)
- The institute’s protections and intermediaries
- Multichannel Contact Center, by calling the free toll-free number 803 164 from a landline phone or by calling 06 164164 from a mobile phone for a fee based on the telephone company’s tariff plan.