INSS statement will show new payroll-deductible margin in September

Retirees and pensioners of the INSS (National Institute of Social Security) are still unable to consult the exact amounts that they can commit to the new rules of the loan consigned in the My INSS statement. The agency informed that the adaptation of the extracts to show the margin with the additional 5% of the benefit card is being implemented, with completion expected by the end of September.

With the law enacted by President Jair Bolsonaro (PL) on August 3, the new limit is 45% of the benefit. The 35% that can be used exclusively for loans, financing and leasing and the 5% to cover payroll-deductible credit card expenses were kept. The novelty is that policyholders will be able to commit 5% exclusively to expenses and withdrawals with the so-called consigned benefit card.

The interest rate will be the same as the credit card, up to 3.06% per month, informed the INSS.

Even without the complete adaptation, retirees can find important information on the Meu INSS website or app, such as the number of active loans and the amounts that have already been discounted and that are being debited from their benefit.

How to consult the INSS payroll statement

1. Access My INSS with your CPF and password
2. If necessary, enter an email to receive a validation code
3. Click on “Loan Statement”; if the service is not in this tab, scroll down and look under “Other Services”. If necessary, click “See More” in the lower right corner
4. If you receive more than one social security benefit, consult one at a time
5. The screen will show the benefit number and the bank where it is paid, in addition to the assignable margin
6. The system will inform you if the benefit is blocked for loan, the amount of active, suspended, deleted and closed loans, if applicable. There is also a specific field for the loan made by card
7. When the person does not have a loan and does not have loans blocked, the margin appears on the initial screen of the My INSS payroll statement. If the person has the benefit blocked, the amounts will not appear
8. When clicking on the active loan, the system will show the request date, contract number, total amount borrowed, total installments, installment amount and settlement forecast
9. For those who have a loan, click on “Download PDF”, in the lower right corner of the page, to see the complete statement. On the first page of the consignment statement, a table with the consignable values ​​will appear

According to the INSS, the maximum is nine personal loan contracts. In the case of a credit card, the limit is one contract.

What is the INSS payroll loan?

The payroll loan deducts debt installments directly from the payroll. In the case of the INSS payroll, the installments are deducted directly from the benefit of retirees and pensioners.

The fees charged by financial institutions are usually lower than those for other types of loans, as the risk of debts not being paid off is also low. According to the INSS, the number of installments must be agreed between the bank and the contracting party, but the current maximum interest rate is 2.14% per month for payroll loan operations and 3.06% per month for credit cards.