Auxílio Brasil payroll: margin is greater than extra benefit

Families benefiting from Auxílio Brasil will soon be able to commit part of their income to payroll-deductible loans, as is already the case with INSS (National Social Security Institute) retirees and pensioners. The percentage to be committed, however, can lead to indebtedness.

According to provisional measure 1,106, which will be transformed into law as soon as it is sanctioned by President Jair Bolsonaro (PL), it will be possible to commit up to 40% of the new benefit of R$ 600 to the credit, which gives R$ 240. This amount is higher. than the extra income of R$ 200, to be paid on a temporary basis, from August to December, to those who are entitled to Auxílio Brasil.

The Jair Bolsonaro government (PL) wants to bring forward the payment schedule of the Auxílio Brasil of R$ 600 to the first half of August and start transferring the social benefits provided for in the PEC (proposed amendment to the Constitution) approved by Congress on the 9th.

The original benefit of Auxílio Brasil is BRL 400. The BRL 200 increase is being given on the eve of the election to try to reverse Bolsonaro’s second place in the polls. By law, however, it will be possible to make a payroll loan based on the aid even after the end of the temporary increase to R$ 600.

For Idec (Brazilian Institute for Consumer Protection), the release of loans for this public can harm the poorest population, as it is a factor of indebtedness. In all, around 20 million families may be able to take out the credit.

“The granting of payroll loans to the population that depends on income from social programs is, before any crisis, an act of cowardice by the government to give more money to the banking sector at the expense of the indebtedness of the poorest”, says Ione Amorim, economist and coordinator of the Institute’s Financial Services Program.

Cíntia Senna, financial educator at Dsop, also sees the measure as a risk for families in situations of social vulnerability, even more so if there is no financial education for them.

“People must understand what they need the loan for, because they will have the benefit reduced. Unfortunately, many people do not know what a loan is, what a payroll loan is. immediate resources if it does not promote an education process”, he says.

Payroll still needs regulation

According to the rules approved by Congress, beneficiaries of Auxílio Brasil, CLT employees and public servants may commit up to 40% of their income to payroll. For those who are retired from the INSS, receive BPC (Continued Payment Benefit) or RMV (Life Monthly Income), the assignable margin will be 45%.

Those who are entitled to a 40% credit margin can hire 35% on the personal loan and 5% on the credit card. For those who are entitled to 45%, it will be 40% on the personal loan and 5% on the payroll credit card. In the case of Auxílio Brasil beneficiaries, however, the rules still need to be regulated.

There is no date for publication of the regulation, but the government’s intention is that it be done together with the law derived from the MP. THE Sheet found that the possibility of offering the loan in Auxílio Brasil can be made by any bank, as the government wants to increase competition. In the case of interest, it is not yet known whether they will be limited, with a maximum rate allowed, as currently occurs with the INSS payroll.

Banks await rules

The five largest banks in the country were sought after. Caixa Econômica Federal, Itaú, Banco do Brasil and Santander responded that they are waiting for the regulation to offer the credit. With this, it is still not possible to take out loans. Bradesco did not manifest itself.

Banco do Brasil reported that “it is analyzing the possibility of operating the line, which still depends on the regulation of business conditions”. Caixa said that “it awaits regulations to be published by the Ministry of Citizenship on the conditions and requirements of the payroll loan for beneficiaries of Auxílio Brasil”.

In a note, Febraban (Brazilian Federation of Banks) stated that “for the realization of payroll loans to beneficiaries of Auxílio Brasil, it is also necessary that, in addition to the publication of the rule allowing the consignment of the benefit to obtain a loan, which has already occurred, disclosed the processes to be observed by the financial institutions that will work the products”.

“The details of each of the products will be known after the disclosure of this regulation, such as maximum term, margin of commitment of proceeds with credit operations, maximum rates, contracting conditions, among others”, says the federation.

On the internet, Banco PAN is already offering a pre-registration for beneficiaries of Auxílio Brasil, which aims to analyze income and history to allow the release of consigned credit as soon as the regulated rules are released. The institution, however, still does not make the loan.

Understand payroll loans

The payroll loan is a credit granted with a discount on the installments directly from the benefit or salary. The margin is the limit of income that can be compromised.

The payroll credit card works like a credit card at the time of purchase, but the debt is automatically deducted from the salary or benefit. The interest rates of the two modalities are different.

In the case of the INSS, interest is controlled by the Social Security Council. The maximum authorized rates are 2.14% per month for the loan and 3.06% per month for the payroll card and, until the loan is paid off, the retiree will receive less every month.

BPC has limited rule

In June, the INSS published rules that limit the contracting of payroll-deductible loans by BPC beneficiaries. New policyholders who gain access to the assistance income of a minimum wage (R$ 1,212) will only be able to take out a loan directly deducted from the payroll 90 days after the benefit is granted.