Pensions abroad, INPS plans to repatriate Italians

Pensions abroad, new pressure begins. More than 300,000 Italians moved from Bel Paese after quitting their jobs to pay for it Lower taxes And enjoy a better quality of life at lower costs, they will no longer be able to access their pensions Checks Starting in July. Here are all the news.

Institute decision

INPS recently announced a resolution aimed at combating Undue payments And to solve frequent postal disturbances that often caused checks to be lost during transportation. Citibank is the operator of the Social Security check payment service abroad. Until now, pensions have been paid to Italians residing abroad by depositing the pensioner's current account in cash into a single account. door Via a direct correspondent of Citibank, usually Western Union, or by issuing and mailing a non-transferable deposit check. However, INPS is gradually removing the latter Payment Terms.

operating instructions

INPS has given operational instructions to cancel the payment via Checks For Italian retirees living in Austria, Belgium, Tunisia and Australia. Retirees based in Europe received a form from Citibank in recent weeks to provide their necessary banking details. Future appropriations. The form must be completed and returned by June 15, along with a copy of a valid identity document and a document issued by the foreign bank showing the retiree's banking details, i.e. Bic, Iban or Sort Code and Account number For residents of the United Kingdom. Those who have not yet submitted the form and documents will collect the July payment in cash and will need to collect the amount from the Western Union counter in the country they are located in.

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Collection method

INPS also specified that from 1 July this year, for new pensions or for pension transfers from Italy, payment will be made in cash at Western Union branches, if the necessary bank details for this are not provided. Credit via bank transfer. INPS explained: “This collection method will also remain active for subsequent payments, until interested parties request a change of payment methods.“.

The drawing

According to the latest data for 2022, there are 317,000 Italian retirees residing abroad, spread from Portugal to the United States.

Every month, Italy spends more than 1.4 billion euros on these pensions, which represents 2.4% of total pensions. Payments. INPS payments reach 165 countries, including Spain, Belgium, France, the United States, Portugal and Australia, which have the largest number of Italian pensioners.

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