Pensioners have a third year-end without the 13th

For the third year, the 13th of INSS (National Social Security Institute) retirees and pensioners was paid in the first semester. The anticipation took place in 2020 to soften the economic effects of the Covid-19 pandemic and has been repeated in the last two years, with payment in installments between May and June instead of August and November.

Money, commonly used to cover extra year-end expenses, ends up destined for other purposes – often paying day-to-day bills, many of which have become more expensive in 2022.

“Food has gone up a lot, a lot. Meat, vegetables, fruits, everything is very expensive”, says Vilmara Bagdzinski, 55, from Curitiba. A domestic servant who retired in 2016, she received the early benefit and soon had to spend it. “I spent a while, I used it all to pay my bills,” she says.

Even receiving it in December, Antonia de Jesus was also unable to dedicate the money to the extra year-end bills. The maid got her retirement in July, which is why she received the 13th in a single installment, for the month of November. “I’m working on my house documents and I needed money to pay.”

The resident of Embu das Artes, in São Paulo, continued working after retirement. She says that the money is not lacking: “Of course, things are difficult, but you can manage with the little you have, and that’s okay.”

Despite rising inflation, financial planning expert Cintia Senna recommends saving the 13th for times of opportunity or need. “The 13th is a possibility for us to leave it yielding interest and use it at the right time, whether at the end of the year, with the holidays, or with the accounts at the beginning of the year.”

She also indicates running away from loans that anticipate payment. “Avoid taking on more debts, because the bill comes later and has interest.” Senna suggests doing the opposite: investing the money. “We are going to use the interest in our favor, try to save as much as possible and think that I will only receive it at the end of the year. This money saved until December already yields an interesting amount.”

The possibility of saving for a longer time is also important, allowing the money to be available in times of need. That’s what 82-year-old Severina Silva dos Santos, from São Paulo, does. Former executive director of the National Union of Retirees, Pensioners and Elderly of Força Sindical, she retired in October 1990 and continued working until 2021.

“Since I have all my bills up to date, I was able to save. Sometimes I take it to buy things, you know how it is, to get something for the grandson. Now they are all grown up, they are already working, I give that amount to each one. Today I am at the loss because two have the same birthday, but it is a healthy loss”, says Santos amidst laughter.