What is the small loan for civil servants
In addition to taking care of the pension fund for members, Social Security provides income support services and credit lines at special terms, better known as small government agency loans for civil servants. These are short-term personal loans granted by the Institute to meet the daily family needs of the members. http://www.hqreplicasbag.com/choosing-the-best-online-stock-agent-for-you.html for clarification
Social Security loans are financed through the unitary management of credit and social benefits (Social Security credit fund). As these are personal loans, the beneficiary is not required to justify the reason why the loan is requested.
The interest rate is fixed and the repayment is made through an amortization plan with monthly installments of a constant amount, withheld directly from the paycheck or from the beneficiary’s pension.
The small Social Security loans are accessible only to public employees and pensioners registered in the aforementioned unitary Management and can have a duration of 1, 2, 3 or 4 years.
As regards the amount payable, for each year of duration it is possible to obtain a sum equal to two average net monthly payments received by the applicant. However, the amount is reduced to one monthly salary for each year of duration if the applicant has other salary or pension deductions in progress.
Interest rate and charges
Let’s move on to the chapter on expenses. The interest rate is 4.25%, regardless of the loan term and the amount granted. In addition, a rate of 0.50% for administrative expenses is applied to the gross amount of small government agency public sector loans.
The applicant must also meet the premium for the Social Security Risk Fund (also called the Guarantee Fund), the amount of which is defined according to the age group of the applicant and the duration of the loan.
Those interested can consult the table showing all the rates provided for the Risk Fund award in the Social Security Loan Regulations, accessible in PDF format on the Social Security website.
How to apply for the loan
But how to apply for small government agency loans for civil servants? The application for funding must be sent exclusively electronically.
Specifically, public employees in service activities must submit the request through the administration they belong to, which then forwards it to Social Security. Retirees, on the other hand, can choose between different channels.
In fact, these have the possibility to submit the application directly online, by accessing the reserved area of the Social Security.it site with the PIN code. Once authenticated, simply follow the path: “Access services – Public Employee Management Services – Services for members and retirees – entering the tax code and PIN – By subject area – Credit – Small pensioner loan”.
Alternatively, public pensioners who wish to obtain a small Social Security loan can apply through the Social Security Contact Center, or by contacting a patronage.
Where to find the forms
The forms for requesting small government agency loans for public employees are available online in Pdf format, in the Forms section of the Social Security website. We remind you that all the documents indicated in the Social Security Loan Regulations must be attached to the application.
Online loan simulation
In order to facilitate public employees and pensioners who wish to apply for a small loan, Social Security has introduced a special online service for simulating loans. To reach the calculator, it is accessible by following the path: “Home – Online Services – Public Employee Management: Simulation of Small Loans and Multi-year Loans Calculation”.
To perform the simulation, simply choose the type of simulation you want to perform, choosing from:
- loan simulation
- loan simulation for specific amount
- loan simulation for ideal installment.
At this point it will be sufficient to insert the requested data in the appropriate form.