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The Pension record
By Decree of the President of the Republic no. 1388 of 31 December 1971, a Central Record has been set up at the INPS for collection, storage and management of data and elements relating to pension benefits to be paid by:
- Compulsory General Insurance (AGO) for invalidity, old-age and survivors entitled after the death of employees;
- Compulsory social security schemes replacing the said insurance or which have in any case led to their exclusion or exemption;
- Mandatory schemes for the allocation of pensions to the self-employed workers;
- Any other mandatory pension insurance scheme;
- Any other form of supplementary and complementary pension scheme.
The Pensions Record is aimed at social security and bilateral institutes.
Pension institutes transmit to the Central Pensions Record the data and information necessary for the management of the Pensions Record itself via electronic means, in accordance with the obtainment and transmission specification drawn up and notified by the INPS to the institutes concerned.
Annual notification to the Central Pensions Record must be made by the end of February each year.
The data relating to new registrations, cancellations and changes in amounts for each quarter must be notified by the end of the month following the expiry of the quarter (quarterly communication):
- data on new registrations, cancellations and changes in amounts made from 1 January to 31 March must be notified by 30 April at the latest;
- data on new registrations, cancellations and changes in amounts made from 1 April to 30 June must be notified by 31 July at the latest;
- data on new registrations, cancellations and changes in amounts made from 1 July to 30 September must be notified by 31 October at the latest;
- data on new registrations, cancellations and changes in amounts made from 1 October to 31 December of the previous year must be notified by 31 January at the latest.
In the event that in a quarter there have been no new registrations, cancellations or changes in amounts, no quarterly communication needs to be sent.
Since the annual report on pension payments made in the previous year and the pension payments to be made in the current year must be made by 28 February of each year, the report on new registrations, cancellations and changes in amounts for the fourth quarter of the previous year may be made together with the annual report, instead of as a separate report due by 31 January.
By the end of June of each year, on the basis of the identified data and elements and through the use of automated procedures, the Central Pensions Record:
- identifies the holders of two or more pensions;
- calculates the IRPEF (personal income tax) rate of the recipients and the related tax deductions;
- informs the institute that pays the benefits, of the IRPEF (personal income tax) rate and deductions to be applied to it;
- determines the revaluation due from 1 January of the year, with respect to persons holding more than one pension that are subject to the rule of equalization cumulation, and communicates the revaluation coefficient (equalization) to the institute.