INSS starts paying pensions with the new minimum wage of R$ 1,302

The INSS (National Institute of Social Security) begins to pay retirement benefits, pensions and aid in the amount of the new minimum wage, of R$ 1,302, as of this Wednesday (25). Payments of benefits for the floor continue until February 7th.

Policyholders in the city of São Paulo begin to receive the new pension only on Thursday (26), because of the city’s anniversary municipal holiday. Bank agencies do not open to the public this Wednesday, due to the municipal holiday, informed Febraban (Brazilian Federation of Banks).

The amount of R$ 1,302 is the minimum that the INSS pays in retirement, death pensions, sickness benefits and BPC (Continued Provision Benefit).

Benefits above the minimum wage will be deposited between February 1st and 7th, with a 5.93% readjustment, equivalent to the INPC (National Consumer Price Index) accumulated in 2022. INSS from February 2022 have the first proportional readjustment.

In total, there are about 37 million beneficiaries in the country.

First benefit payment schedule 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%):

Complete INSS payment schedule in 2023