The end of service treatment of public and state employees provides, with the exception of specific exceptions, particular payment methods, even in several tranches:
- after 12 months or 24 months based on the reason for cessation of work, in a single solution if the amount is equal to or less than 50.000 €;
- in two annual installments if the amount is between € 50,000 and € 100,000 lower (1st installment of € 50,000 and 2nd installment of the excess part), with payment of the second installment after 12 months from the first;
- in three annual installments, if the amount is equal to or greater than € 100,000 (in this case there are three installments: 1st installment 50.€ 000; 2nd installment € 50,000, 3rd installment in excess of € 100,000). The second and third sums are paid respectively after 12 and 24 months from the commencement of the right to payment of the first.
- The time required to receive the payment accrued according to the terms indicated above therefore requires a minimum of 12 months in the event of termination of the employment relationship due to reaching the age or service limits and a minimum of 24 months for other cases, including the voluntary resignation.
What is the TFS Advance
With the Advance of the TFS, public and state employees have the advantage of being able to have the liquidation accrued in advance and quickly avoiding long waits and the breakdown into installments. The TFS advance goes up to 300.€ 000 in a single settlement, covering up to 95% - 100% of the liquidation.
There are no deductions from the pension because the loan is repaid with the payment in installments of the TFS defined by INPS. The Withdrawal Institute anticipates the customer the TFS and then will receive directly from the pension institution, with the scheduled installments, the sums corresponding to the end of service treatment. The loan is free of charge for preliminary assessments, at a fixed rate and at affordable rates.
With the TFS Advance, more repayment options
In the case of a partial request for the end of service treatment, with the advance of the TFS the customer can choose, at the signing of the loan, between two different repayment options of the amount advanced by the bank:
- Reimbursement to climb : the reimbursement is made with the sum of the first installment foreseen by the plan certified by the INPS. Any missing amount is refunded with the next available installments;
- Deferred repayment on several installments: the client defines with the Withdrawal Institute a repayment plan for the advance of the TFS deferred over time and divided proportionally into several installments, compatibly with the entity of the the amount and timeframe provided for the disbursement of the last tranche by the INPS. This method allows the customer to have more liquidity in advance and to manage with flexibility the return of the amounts obtained by taking advantage of competitive rates.
How to request an advance payment with TFSubito
We offer public and state employees the advice to verify the possibility of requesting the advance of the TFS and formulate the estimate.
The documentation required for the estimate for the advance of the TFS includes identification documents and the TFS liquidation statement certified by the pension institution for the purposes of a transfer agreement. The prospectus can be requested from INPS by filling in the online form for calculating the TFS available on the INPS website. If necessary, you can ask for support by contacting us at 095-7159613.
To complete the financing for the advance of the TFS, the complete documentation must include:
- two identity documents;
- tax code;
- income documentation (last 2 pension coupons, if available, and last cud);
- TFS prospectus;
- Iban for crediting the amount of liquidation advanced by the bank.
- The customer will receive the sum defined once the INPS will issue the approval of the contract notified by the Institute. The INPS will then pay the amounts directly to the Withdrawal Institute, in the manner and within the time frame set by the relevant legislation.
Benefits of the TFS Advance
Why request advance payment of your end of service treatment with TFSubito? Here are the advantages of early TFS:
- TFS matured in a single solution;
- Up to 300.000 €;
- Affordable rates and no preliminary investigation fees;
- Opening an account is not required;
- No monthly payment, no deduction from the pension.
For all information and advice on financing for the advance of TFS, make an appointment or contact us at 095-7159613.