INPS has provided information on the pension slip for September 2024, reminding recipients that the document is accessible online and that payments will be made on the 2nd of the month. The institute highlights adjustments made to tax withholdings at the end of 2023, including retroactive recalculations of income tax, regional and municipal taxes, and other taxes for the year. Any discrepancies found in taxes withheld throughout the year will be deducted from pension payments in January and February of 2024, with further deductions made if necessary until the debt is fully recovered. Those with annual pensions under €18,000 may have their debt spread out over monthly payments until November. Additionally, regional and municipal taxes for 2023 will be deducted from September’s payment and spread over 11 months from January to November the following year.
Certain pensions, such as those for disability, social assistance, and other special cases, are exempt from tax withholdings. For pensions linked to income (such as minimum supplement pensions), recipients must provide income data for 2020 to avoid a 5% withholding based on the July 2024 pension amount. Failure to provide this information will result in the revocation of benefits or a reduction in survivor pensions.
In September, the INPS also coordinates tax adjustments for pensioners who have opted for the institute to handle their tax withholdings based on their 730 tax forms submitted to the Revenue Agency by June 30th. Recipients may receive refunds or additional withholdings based on their tax filing. Those with the necessary credentials can access their tax information through the online “Tax Assistance (730/4): citizen services” portal on the INPS website or mobile app.
Overall, pensioners should be aware of any tax adjustments made to their payments, understand the reasons for these deductions, and ensure they provide any necessary income information to avoid further withholding or reductions in benefits. The INPS is committed to providing transparency in its payment process and supporting pensioners in managing their finances effectively.
