Quota 103 is an early retirement system that allows workers to retire with 41 years of contributions and 62 years of age. This formula, also active in 2024, allows you to leave the world of work earlier than your old-age pension, but with some penalties. In this guide we will see in detail how Quota 103 works, what are the requirements, the ways to access it and the news planned for 2025
.
What is Quota 103?
Quota 103 is an early retirement option that allows you to retire from work with 41 years of contributions and 62 years of age, provided that both requirements have accrued by December 31, 2024. This measure is one of the formulas of ‘quotas’, similar to those already seen in the past, such as Quota 100 and Quota 102, which allow workers born in certain years to leave work early
.
Requirements for Quota 103 in 2024
To access Quota 103 in 2024, the required requirements are:
- 41 years of paid contributions.
- 62 years of age, accrued by December 31, 2024.
According to circular no. 39 of February 27, 2024, for the completion of the contribution requirement, any contribution paid or credited to the insured is valid, provided that at least 35 years of contributions have been reached net of periods of illness, unemployment and equivalent benefits.
How does Quota 103 work in 2024
The 2024 budget law establishes that, for those who accrue the requirements in the year, the amount of the check will be calculated according to the rules of the contribution system. However, the ceiling for early retirement cannot exceed four times the minimum INPS pension limit, set in 2024 at 598.61 euros per month. This implies that the maximum amount payable will be 2,394.44 euros per month until the requirements for an old-age pension
are met.
Between 62 and 67 years old, those who choose Quota 103 will therefore suffer penalties, with a maximum pension ceiling. At the age of 67, the pension allowance will be recalculated without restrictions, based on the contributions actually paid
.
When can you retire with Quota 103
As far as retirement is concerned, the exit windows vary depending on the employer:
- private sector: pension treatment starts seven months after the requirements accrue.
- public sector: pension treatment starts nine months after the requirements accrue.
For school staff and AFAM, the specific provisions set out in Article 59, paragraph 9, of Law No. 449 of 1997 continue to apply.
Penalties for those who choose Quota 103
Opting for Quota 103 involves certain penalties. The calculation of the check takes place entirely with the contribution system, which leads to a reduction in the pension amount. A loss of about 10% of the check is estimated for a worker with an annual gross wage of 25,000 euros
.
In addition, the waiting periods between the accrual of the requirements and the disbursement of the pension entail additional economic losses, with a significant loss of income, especially considering the average life expectancy.
Calculation of the pension with Quota 103
The calculation of the pension with Quota 103 takes place according to the contribution system, which is based on:
- the annual compensation of employees or the income of the self-employed.
- the annual contributions calculated based on the calculation rate.
- the individual amount, obtained by adding up the revalued annual contributions.
- the application of the transformation coefficient, which varies according to the worker’s age at the time of retirement.
To facilitate the calculation of the future pension, the INPS provides the “My Future Pension” service, which allows you to simulate the amount of the pension based on current legislation.
How much do you get with Quota 103 in 2024
The amount of the pension with Quota 103 in 2024 is limited to a maximum of 2,394.44 euros per month, corresponding to four times the minimum treatment. If the amount due exceeds this amount, the excess will be paid only when the ordinary retirement age is reached
.
How to apply for Quota 103 in 2024
The application to access Quota 103 in 2024 must be submitted electronically through the following channels:
- directly from the INPS website: by accessing through Spid, CNS or CIE.
- INPS contact center: calling the toll-free number 803164 from a landline or 06164164 from a mobile phone.
- sponsorship institutions: that provide support for sending the application.
Share 103 in 2025
Quota 103 has been confirmed for 2025, so it remains a possibility for those who want to retire earlier, but with less favorable conditions than in the past. In particular, a reduction in checks is being considered for those who choose to exit the labor market early. The logic behind this decision lies in the need to reduce the overall cost of the measure, especially in a context in which the government is dealing with limited resources and pressing financial priorities
.
According to what has emerged, in fact, the government intends to reduce the budget of the pension dossier in the 2025 maneuver, providing resources equal to 1 billion with Nadef (500 million less than the amount of 1.5 billion originally planned). Consequently, if on the one hand the extension of Quota 103 is confirmed also for 2025, on the other hand, significant changes are being considered that could make this option less convenient for workers
.
Regulatory references
- Full text of the 2023 budget law.
- Final text of the 2024 budget law.
- INPS message n. 454 dated 01-02-2024.
- INPS Circular n. 39 of 27 February 2024.
Conclusion
Quota 103 represents a possibility of early retirement for workers who have accrued the requirements. However, it is important to carefully evaluate the economic consequences and possible penalties before making a final decision
.
