Banks across the country can now offer the new INSS (National Social Security Institute) payroll-deductible benefit card. With the release, retirees and pensioners will be able to commit up to 45% of the benefit with a payroll loan.
According to Febraban (Brazilian Federation of Banks), as of this Monday (19), the modality can already be offered, in addition to the other existing ones. The offer to the insured, however, will depend on each financial institution, according to the evaluation.
“The operation will be evaluated by the banks and by the borrower, in order to prevent over-indebtedness”, says a note from the institution.
The INSS payroll loan is a credit with direct payroll deduction. Since August, policyholders have had a higher margin and could commit up to 40% of the benefit to the loan: 35% with the payroll-deductible personal loan plus 5% with the credit card.
Now, add another 5% with the benefit card, reaching 45%. Among the banks that had already decided to offer the credit are BMG, Master, PAN, Santander, Daycoval and Facta, as reported by Febraban earlier this month.
This is the second consecutive increase in the INSS assignable margin. The first took place in August, when Law 14,431 came into effect, raising the possibility of compromising social security income from 35% to 45%.
The measure is criticized by experts, who believe there is a possibility of increasing the indebtedness of the elderly population, which is already high.
Fernando Weigert, director of Neoconsig, a technology company specializing in payroll-deductible loans and providing technological solutions for financial institutions, gives tips for retirees to use their money with caution.
“It is advisable to pay the most urgent debts and pay off the most expensive ones. The important thing is to avoid that this money is used for day-to-day expenses”, says Weigert.
“What is being seen is a spree in allowing banks to increase the risk of indebtedness for retirees, even those who only earn a minimum wage per month. [R$ 1.212]. In my opinion, they are not thinking about retirees, but about bank profits”, says Rômulo Saraiva, a lawyer specialized in Social Security and a columnist for Sheet.
“This issue of this 5% is worrying. If we look at it, today, a good part of INSS beneficiaries already have their income committed to these consigned workers and this can make them commit their income even more at source”, says CÃntia Senna , financial educator at Dsop.
CÃntia says that one way to make indebtedness difficult is to block, through Meu INSS, the benefit to avoid “any kind of headache”.
How does the INSS Payroll Benefit Card work?
The payroll benefit card works like a credit card, despite not having credit in the name. It’s just another way for policyholders to get extra cash. In it, there is no annual fee, cash withdrawal of up to 70% of the card limit is available, in addition to the mandatory offer of life insurance, free funeral assistance and assistance, discount at pharmacies and up to 40 days to pay the bill. .
If the invoice exceeds 5% discounted from the payroll and is not paid, the rate is 3.06% per month, obeying the maximum interest defined by the INSS for the payroll-deductible credit card.
Consultation should be released later this week
According to the INSS, this week, policyholders will be able to consult the value of the new margin through the My INSS app or website.
Febraban monitors credit
Febraban carries out inspections of this type of loan in the institutions that offer them. In July, the latest data available, the Self-Regulation Service for Payroll Loans recorded 18 new penalties to bank correspondents for irregularities in the supply of credit.
The number was close to June, when 19 administrative measures were applied. However, there was no definitive suspension. As a result, the total number of administrative measures applied by self-regulation since the beginning of the rules in 2020 rises to 977.
So far, 440 warnings and 497 temporary suspensions have been applied to correspondents, with 40 companies being permanently suspended from acting on behalf of the banks.
Self-regulation is a set of rules aimed at transparency, the fight against commercial harassment and the qualification of correspondents, adopted in partnership with Febraban and ABBC (Brazilian Association of Banks).
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