Saturday, July 20, 2024

Immediately retired? Knock the check: How much was lost


INPS, with Circular no. 48 of 2021, Evaluated the expansion contract for 2021 by defining the procedures for disbursing attendance allowance to pension Reserved for workers terminating a consensual employment relationship, which was also extended under the 2021 Budget Act to smaller firms.

What changes upon retirement

The employer must pay the amounts to INPS to secure monthly payments with a bank guarantee and the sums the worker receives will be subject to regular taxes. The volume threshold has been lowered, among other things, from 250 to 100 employees at an estimated cost of between 2 and 300 million euros. The reform, estimated to enter the Sostegni bis decree, focuses on the expansion contract as the primary tool for post-emergency management of companies struggling with restructuring or reorganization, as an alternative to mass layoffs. According to simulated it Sun 24 hours I asked De Fusco & Partners about the impact of an expansion contract, moving from worker to early retirement with a one-year pre-retirement expansion contract. decrease Average net 16% For a salary of between 30 and 50 thousand euros.

Losses up to 27%

But that is not all, because every year in which an additional payment is made entails a monthly reduction of 50 euros, with a fine compared to the net salary of -27% for those who are after 5 years of retirement. For all this we must consider that the normal pension entails in itself one Reducing With regard to the salary and without taking into account the amount that the company can pay to motivate the employee to leave. On the other hand, if the pension is withdrawn, the average monthly reduction will be 8.5% but the total amount of the pension is higher because the pension is received for a longer period. Early retirement has the same results, but with the difference that the worker receives the pension as if he had worked (because the employer also pays social security contributions that are beneficial to obtain the right to the pension).

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Here are all the accounts

Consider a Salary An annual gross salary of 30 thousand euros (1650 euros of net monthly salary), compared to the “full” pension allowance, with early retirement, on average, 120 euros per month (a figure between 40 and 160 euros, depending on whether It was 1 year or 5 years from the due date the requirements were due.) For the range of the annual gross salary of 40 thousand euros (net of 2,050 euros per month), an average of 145 euros is lost compared to the full pension (the gap in this case ranges between 60 euros and 180 euros, depending on whether you leave 1 1 year or 5 years ago). Those who earn 50 thousand euros in total (2,387 euros per month) average amount of reduction compared to the average pension equals 168 euros (delta, here, between 100 euros and 210 euros, depending on whether you expect to retire by 1 or 5 years).

How much was lost from layoffs

Besides early retirement, the expansion contract provides for employees who are qualified for a generational turnover and allows recourse to Cigs (Cassa Integrazione Guadagni Extraordinary) for the “slice” of the pension. discount Average time is 30%. Assuming a one-year Cig, for the lowest income (€ 30,000 gross), the net loss of annual salary equals € 3,300, a figure similar to that recorded for the € 40,000 gross annual salary range (you lose € 3,331 per year) due to the effect of the tax wedge . This is because the 2021 maneuver reduced the minimum use of the expansion contract from 1,000 to 500 workers, and left small and medium-sized companies exposed due to the limited funds available (117.2 million for 2021, 132.6 million for 2022, 40.7 million for 2023 and 3.7 million for 2024). “TheThe center of gravity needs to be shifted to active policies and training in order to have a tool for managing hiring transfers – carry Pierangelo Albini, Director of the Business, Welfare and Human Capital District in Confindustria – The expansion contract should help companies, including SMEs, to meet the challenges of the future, starting with digitization, training and transition processes, and also in the logic of the slide toward retirement. We need a standard tool, accessible to all companies“.

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