INSS payroll will change in 2022; check what the changes will be

The INSS (National Social Security Institute) payroll loan rules will change as of January 2022. With this, the insured has until December 31 of this year to contract the loan with more advantageous conditions.

Among the main changes is the reduction in the consignable margin. This margin is the percentage that the retiree or pensioner can commit to their payroll-deductible benefit. Currently, it is possible to commit up to 40% of monthly pension income to credit: 35% for personal loans and 5% for credit cards.

As of January, the rules from before the coronavirus pandemic will apply again and retirees will only be able to commit up to 35% of their monthly income to payroll: 30% for personal loans and 5% for credit cards.

There may also be a change in the number of installments. Today, the payroll can be paid in up to 84 installments, which gives seven years. Before the pandemic, the rule allowed installments in up to 72 months (six years).

Another rule that should no longer apply is the grace period of up to 120 days granted by banks and other financial institutions for new and old payroll-deductible contracts. This grace period, however, is optional, that is, the payment pause only occurs if the bank wants to.

Changes to the payroll-deductible loan were initially made through provisional measure 1.006/2020. in an attempt to reduce the economic impacts of the period of public calamity in the Covid-19 pandemic. The most advantageous rules would be valid until December 31, 2020, but Congress extended the measure until the end of 2021, with the approval of Law 14,131, originating from the MP.

Payroll-deductible loans are a type of loan controlled by the CNPS (National Social Security Council) in which installments are deducted directly from the INSS salary or benefit. The consignable margin ensures that the loan does not compromise most of the income of the retiree or other workers.

Currently, in the country, there are 40.5 million active INSS loans, and 9.7 million contracts on payroll-deductible credit cards, according to data from the institute. This year alone, from January to November, 19.8 million loans were taken out and 771,637 credit card operations were carried out.

Interest is already higher

Payroll interest rates, which were also reduced as a result of the Covid pandemic, rose again on December 10 this year. The new rate is 2.14% per month for payroll-deductible personal loans and 3.06% per month for credit cards. Before, interest was at 1.80% and 2.7% per month, respectively.

However, it is still possible to find cheaper credit, depending on the financial institution. See here simulations of installment amounts with the new INSS payroll interest.

​How to know the consignable margin

The consultation of the consignable margin is done through the Meu INSS website or application. The insured needs a gov.br platform password to access. When starting, it is necessary to inform the CPF and the generated password. Then just go to “Loan Statement” on the home page. If the retiree can take out a loan, under “Situation” it will be written “active”. Just below will be the consignable margin for both the loan and the card.

According to the rules, INSS policyholders can have up to nine payroll-deductible contracts, as long as they do not exceed the monthly commitment limit for the benefit.

To take out credit, there are several ways: via ATM, directly at the bank branch, via WhatsApp, bank application, internet banking and even by telephone. Specialists do not recommend hiring without sending a contract by email. At the ATM or at the bank, it is possible to obtain the contract statement, which will serve as a document.