Since the beginning of this year, the provisions of Good Finance have been binding, requiring banks to take into account the decline in income after retirement in the assessment of creditworthiness. This applies to people who work today and will reach retirement age when paying back the loan.
The recommendation does not say exactly how banks should act
To what extent reduce income, as well as what age to treat as retirement and whether to differentiate it for men and women. The situation is further complicated by the planned extension of the retirement age, which means that banks do not know at what age their clients will be leaving their jobs.
How do financial institutions treat the income of people who will potentially become pensioners during the loan repayment? Theoretically, there are many possibilities, because various calculations regarding the amount of the future pension from the first and second pillar are “in circulation”.
Only age is known
Banks do not have a clear, precise and uniform policy towards persons who will enter retirement age during the repayment period. Even the criterion of retirement age is smooth! The largest group of banks are those that assume that retirement age, regardless of gender, is 65 years old.
Theoretically, these institutions should better count the creditworthiness of women who end their work during repayment. The group of institutions in which the retirement age coincides with current regulations is slightly less numerous (60 years for women, 65 for men).
Choosing a bank by people approaching retirement age is not easy
It is difficult to predict how our current income will be treated in individual situations. Different approaches from banks may be due to the calculators used to calculate the capacity.
In addition, banks intentionally do not disclose details of internal procedures. The experience of Home Broker advisors shows, however, that they can take, for example, 60 percent to calculate their capacity. the borrower’s current income if he reaches retirement age during the repayment.
Interestingly, it usually turns out that such a procedure cannot be undermined even if the borrower already has a ZUS certificate on the actual amount of the future pension.