INSS starts paying new minimum wage this Wednesday, but holiday postpones deposits in São Paulo

The INSS (National Institute of Social Security) begins to pay retirement benefits, pensions and aid in the amount of the current minimum wage, R$ 1,302, as of this Wednesday (25).

As this Wednesday will be a municipal holiday in the city of São Paulo, payment will only start on Thursday (26) for beneficiaries in the capital of São Paulo, informed Febraban (Brazilian Federation of Banks).

For other locations without holidays, the national calendar continues to apply, starting on Wednesday for beneficiaries with NIS (Social Identification Number) end 1. In total, there are about 37 million beneficiaries in the country.

The INSS explains that the 2023 payment schedule is valid throughout the national territory. However, if there is a municipal holiday when the banks are not open, it will be moved to the next business day, at the expense of the bank.

First benefit with readjustment

For those who earn up to the minimum wage (R$ 1,302):

* Beneficiaries from the city of São Paulo with final NIS 1 will only receive it on Thursday (26)

For those who earn more than the minimum wage (adjustment of up to 5.93%):

Benefit payments equal to the minimum wage will be made until February 7-about 70% of insured persons. The social security floor is the minimum amount that the INSS pays in retirement, sickness benefits, death pensions, aeronauts’ retirements and BPC (Continued Provision Benefit), due to the elderly and low-income people with disabilities.

To confirm the day on which he will receive the social security income each month, the insured person must check his benefit number, which has ten digits and appears in the following format: 999.999.999-9, and consider the penultimate number. According to the INSS, for whom a benefit has been available for some time, the usual date is valid.

Pensions above the floor are paid in February

Benefits above the minimum wage will be deposited between February 1st and 7th, with a readjustment of 5.93%, equivalent to the INPC (National Consumer Price Index) accumulated in 2022. With the readjustment, the benefit ceiling paid by the INSS is BRL 7,507.49 in 2023.

For those who retired from February 2022, the first readjustment is proportional and varies according to the benefit start date.

The period for withdrawal of card benefits is until the end of the following month (approximately 60 days) after the release of the amount in the account. If not withdrawn, the benefit goes back to the INSS, and the beneficiary needs to make a request through Meu INSS for a new deposit date.

CARNIVAL INTERRUPTS PAYMENTS

In February, the INSS interrupts the payment calendar during Carnival, since on February 20th and 21st, Monday and Tuesday of Carnival, bank branches are closed. According to Febraban, the agencies resume service on Ash Wednesday, the 22nd, after 12:00 pm.

Payment for the period begins on February 17, a Friday, for those who have the benefit ending in 1 and receive the floor. Afterwards, deposits are only resumed on February 23, the Thursday after Carnival. Monthly releases are completed on March 7th. Beneficiaries with income above the minimum wage will receive the money between the 1st and 7th of March.