The fifth assignment is a type of personal loan reserved for employees (public, state, parapublic and private) and pensioners up to 89 years on maturity.
To distinguish the loan with the assignment of the fifth from other forms of financing:
The particular repayment method, which provides for the direct involvement of the employer, or of the pension institution, in the payment to the Bank providing salary / pension shares withheld monthly to the client.
The Client, or Transferor, is the person who chooses to transfer a portion of his salary or pension to a maximum of one fifth (20% of the net salary or pension) in order to obtain financing.
The transferee is the lender of the transaction, in this case , which provides the loan to the customer. Finally, the debtor is the employer or the pension institution, which can not oppose – except in rare cases established by law – to the request for transfer of the fifth , as a right recognized to employees and retirees by specific legislation. The debtors can therefore be:
- Public entities;
- State Administrations;
- Para-public / municipal companies (in this case, as part of the transfer of the fifth, the treatment of employees of parapublic companies will be assimilated to that of public employees);
- Private companies;
- Pension / social security institutions.
The company, or the pension institution, provides monthly withholding on the paycheck or pension slip, and payment of the installment to the bank by bank transfer to a dedicated account. DPR 180/50 which sets the relevant directives. The DPR also dictates the rules for the maximum ceiling of the installment that can be applied.
The procedure for requesting the assignment of the Fifth is as follows:
- The request for the transfer of the fifth takes place at the Rome office. This is the institution that makes the calculation directly and certifies the maximum maximum amount of the installment that must be paid monthly, accompanied by the last two coupons of the pension.
- The request for approval with the signing of contracts and the notification of documentation.
- Release of the Acting Document by the institution, in this case the institution certifies having taken charge of the loan.
- Payment of the loan by bank transfer or bank draft.
- Employee loans
- Sale of the Fifth of the Salary
- Assignment of the fifth to INPDAP retirees
- Sale of the fifth legislation
- Practical Guide to the Cession of the Fifth
- Sale of the Fifth Railways
- Sale of the Fifth Avenue