Quota 103, the requirements and rules for 2024 (updated guide)

Quota 103 is renewed in 2024: article 1, paragraph 139, of the 2024 Budget Law confirmed the possibility of retiring at 62 for this year too.
However, compared to 2023 the rules for access to Quota 103 have changed, so much so that this year the audience should be reduced.
The requirements have remained the same, however a penalty is introduced which could discourage all those who would like to use Quota 103 to stop working early.
In the meantime, the payment times of the allowance paid to those who retire with Quota 103 have also lengthened, as the legislator has changed the terms for the so-called moving windows.
It therefore becomes less convenient to retire at 62 years of age and 41 years of contributions, obviously without prejudice to the fact that it is up to the worker to evaluate whether or not to resort to this option.
In this regard, while waiting for the INPS circular with which the new features introduced for Quota 103 will be made official, here are all the updated rules on one of the most important measures among those that allow early retirement.
Quota 103 in 2024 Requirements Examples Contribution recalculation of the allowance Sliding window Incentive for those who renounce Quota 103 Limit on the amount that can be received Prohibition of cumulation with work activities Requirements Quota 103 works in the same way as what has already been done with Quota 100 first and with Quota 102 then: on right to a pension, therefore, is achieved when the sum between age and social security contributions gives a result of 103.
The minimum age is set at 62 years, while the minimum contributions required are equal to 41 years.
In fact, we can say that Quota 103 was born from the union between Quota 100 and Quota 41: the former, in fact, allowed access to a pension at 62 years of age (but with just 38 years of contributions), while the second, as the name suggests, with 41 years of contributions but regardless of age.
Examples This means that if a person turns 62 in 2024 they can only retire if they have reached 41 years of contributions in the meantime.
It is, therefore, an advance of just 1 year and 10 months compared to the ordinary rules, given that today there is an early pension which allows access to the pension once 42 years and 10 months of contributions have accrued (one year less for women), regardless of age.
Now let's think about a person who is 64 years of age and has 39 years of contributions: in this case the sum gives a result of 103, but the minimum contribution requirement is not met which, as seen above, is set at 41 years.
Which is why to retire with Quota 103 you would still have to work for at least another 2 years, or alternatively the only possibility is to wait until you reach 67 years of age in order to access the old age pension.
Contribution recalculation of the allowance As anticipated, one of the most important innovations this year concerns the calculation of the allowance.
For those who retire with Quota 103, in fact, the calculation will be carried out entirely with the contributory rules, even for the part that would otherwise have been calculated with the salary.
Usually the recalculation involves a reduction in the allowance, the greater the greater the portion that refers to the salary regime.
Before applying for a pension with Quota 103, therefore, it is advisable to find out what the consequences may be on the allowance, in order to be able to carry out a 360-degree assessment.
read also Pension: how the amount changes with the recalculation of contributions Moving window Quota 103, like Quota 100 and 102, but also the early pension, also has a moving window.
This means that a certain period must pass from the fulfillment of the requirements to the actual date of retirement, which varies between private and public workers.
In detail, the times from the maturation of the requirements to the starting date of the grant have been modified by the 2024 Budget Law: for those enrolled in employee management in the private sector the moving window goes from 3 to 7 months; for public employees, however, it goes from 6 to 9 months.
Incentive for those who renounce Quota 103.
In 2024, the incentive aimed at those who, despite satisfying the access requirements for Quota 103, decide to continue working is also confirmed, the possibility to request a paycheck bonus from INPS.
In essence, the worker receives in the last years that separate him from the pension a bonus equal to the amount of the contributions that he should have paid to the INPS, but only for the part that weighs on the worker (therefore equal to 9.19% for employees in the private sector and 8.80% in the public sector).
However, the lower contribution credit will lead to a reduction in the future pension.
read also Maroni bonus on the pay slip, official instructions: who is entitled to it and by how much the salary increases.
Limit amount perceivable Another aspect to consider concerns the limit amount of the pension.
For those who retire with Quota 103, in fact, the check cannot have an amount greater than 5 times the minimum salary, therefore just under 2,993.05 euros (value updated to 2024).
The full amount, if higher than the aforementioned limit, will be paid only once the requirements normally required for access to the pension have been achieved.
Prohibition of cumulation with work activities As with Quota 100 and Quota 102, Quota 103 also prohibits the cumulation of pension and income from work until the requirements for the old-age pension are reached, therefore until the age of 67.
The only exception is represented by income from occasional work activities, up to a limit of 5 thousand euros per year.
This is a mechanism that is used to prevent those who choose to retire early from being able to start working again.
On the other hand, the government's intention is to use this measure to encourage generational turnover in the job market.