(Finance) – The current contract that regulates the relationships between INPS and the current manager of the pension payment service outside the national territory, Citibank NAprovides that payments are made, on an ordinary basis, by credit to a bank account in the name of the pensioner or, where possible, in cash at the counter of a direct correspondent of Citibank itself (Western Union, in most countries). Only in a very exceptional case, the bank can arrange for the disbursement of the pension by issuing and sending to the pensioner a non-transferable deposit check.
INPS announces this with a note, underlining that since the regularity of payments made by check is often compromised by delays in delivery, essentially due to malfunctions of local postal services or by eventualities, such as loss or damage, INPS , Also in order to reduce the risk of providing undue servicesis phasing out the payment of pensions abroad via this method.
To this end, the Institute has provided specific operational indications to the abolition of payment by cheque towards the pensioners resident in Austria, Belgium, Tunisia and Australia. As regards, in particular, pensioners residing in Europe, they will receive a form from Citibank, to acquire bank details for future credit, to be completed and returned by 15 June 2024, attaching a copy of a valid identity document and a document produced by the foreign banking institution in which the bank details useful for crediting are clearly indicated (i.e. BIC and IBAN or Sort Code and Account Number for the United Kingdom), the account holder and any joint holder of the account. In case of no response, payment of the July 2024 installment will be made in cash over the counter at Western Union.
In the case of new pensions or pension transfers from Italy, from 1 July 2024, payment will be in cash, at Western Union, if your bank details have not been provided. This collection method will also remain active for subsequent payments, until the interested parties request a change in payment methods.