Now you can get your TFR in advance: Here’s the easy and clear procedure for getting money instantly

The severance pay savings plan is very important for workers. In some cases, it can be ordered even before the end of the career.

Severance pay, or severance pay, is an important solution for those who need to get money upfront before retirement or before the end of an employment relationship. It is an option available to workersbut only if certain requirements and conditions are met.

Typically, severance pay is paid once you retire, either in a single solution or in several installments. However, in some cases It is possible to request an advance. Let’s see when it is possible to do this, what are the conditions and how to apply.

What exactly is the total fertility rate?

Termination compensation is the amount of money you earn It is payable to all employees once they have completed their work activity and reached retirement age. Many employees rely on this amount, especially if it represents recognition due at the end of a long career. They use it to travel, invest or buy a new home.

It’s kind of like financial reserve Accumulated over the years to ensure the worker’s economic security upon reaching retirement age or in the event of termination of the employment relationship.

The total fertility rate is disbursed in case of dismissal Or when the worker reaches retirement age. During the period of employment, the employer allocates a portion of the salary each month and accumulates it as severance pay. So we can say that it represents a form of deferred remuneration which the employee receives at a later time.

The Worker It can decide how the TFR is used and how and where it is collectedAccording to your needs. As of 2017, it is possible to choose whether it is pooled in-house or paid into supplemental pension funds.

The amount of severance pay is not the same for everyone. It is important to know that it is possible to make a prediction. This way you avoid unpleasant surprises and can plan your life better.

calculation method

The law specifies a certain percentage that is applied to the account. The TFR accumulates month by month and year by year during the working relationship. Each national collective agreement specifies the clauses to be considered.

to calculate total total fertility rateYou have to follow some steps. First, you add the accruals set aside during a year of employment. Typically, your annual salary includes all money you received for your work, such as salary and non-incidental benefits, excluding expense payments.

At this point, keep in mind Divide your gross annual salary by 13.5. Finally, yesYou get to contribute to the score from the score Pension Settlement Fund (FAP)Which is equivalent to 0.50% of the taxable salary for social security purposes.

Once you have your total TFR total, you can proceed to calculating net total fertility ratethat is, the actual amount that you will receive in the event of termination of employment. Here is how the net total fertility rate is calculated:

1. Determines the total total fertility rate.
2. Divide the total severance pay by Number of working years and multiply the result by 12 Months) For annual reference income.
3. Calculateaverage income tax rate, which represents personal income tax. This rate is calculated by dividing the tax (calculated by applying the applicable Irpef rate to the reference annual income) by the reference annual income amount.
4. Apply the calculated rate to tax base To get the net amount of TFR you will get.

Please note that these calculations may vary depending on your specific circumstances and applicable regulations. It is always advised to refer to the official information or contact a professional to get an accurate TFR calculation.

Advance TFR: When it is possible to obtain it in advance

Although its main purpose is to assist workers once the employment relationship ends, as a kind of financial lifesaver, in some cases it is possible to ask for an advance. However, it is important to keep this in mind You can get only 70% of the amount accumulated total e Only under certain conditions.

This opportunity is reserved for workers who have accumulated At least 8 years of work With the same employer and in specific situations. An advance can only be requested in the following cases:

1. Face medical expenses Such as unusual treatments or interventions.
2. Expenses incurred over periods Parental or educational leave.
3. Buying your first home for themselves or their children.

To receive an end of service gratuity advanceIt is necessary to comply with these conditions. However, the terms may vary according to what is specified in the employment contracts, so it is always advised to refer to them for more details.

To apply, the procedure depends on the body or organization you belong to. In most cases, this is sufficient Fill out a special request The required amount and attach the necessary documents. What are the required documents and information? In general, the work contract and social security contributions, and an explanation of the reasons for requesting an advance.

After submitting the application, it will be evaluated, and if approved, the required amount will be disbursed to the worker. It is important to note this Each worker has the right to request only one advance during the working relationship. In any case, to obtain more accurate information, it is always possible to ask the relevant employers or trade unions.