Located in the city center, the building was designed in the mid-1930s to serve as an administrative center for the National Social Security Institute (Istituto Nazionale della Previdenza Sociale, or INPS). The architects Giovanni Greppi and Pier Giulio Magistretti designed the building, which was constructed between 1934 and 1937.

The building's design is characterized by the features associated with the Rationalist style, which emphasized geometric forms and functional layouts. The 70-meter-long facade is clad in limestone and features vertical ribbon windows. The overall massing is geometric, with a stepped-back crown at the top. The interior is organized around a central courtyard, a layout intended to provide light and circulation for the office spaces. The structure employs reinforced concrete, with travertine and marble used in the main lobbies and entrance halls.

In terms of its cultural context, the Palazzo INPS was conceived as a centralized administrative facility for a state institution. Its architectural style, which employs monumental scale and ordered composition, was representative of the architectural approaches used for public buildings during that era. The building continues to be used for its original purpose, housing administrative functions.