INSS ceiling goes to R$ 7,087.22; see how the accounts are

The government published in the Official Gazette this Thursday (20) the ordinance that readjusts by 10.16% the benefits paid above the minimum wage by the INSS (National Social Security Institute). As a result, the maximum amount granted to retirees and pensioners increases from the current BRL 6,433.57 to BRL 7,087.22.

The increase is equivalent to the INPC (National Consumer Price Index) recorded from January to December of last year, which measures the impact of price changes for families with income between one and five minimum wages.

According to the ordinance, only beneficiaries who were already covered by the INSS on January 1, 2021 will be entitled to the 10.16% readjustment. Those who started receiving payments from February onwards will have a lower readjustment percentage, because did not receive 12 months of pay from the institute. Check it out below:

• Until January 2021: 10.16%
• Start of benefit in February 2021: 9.86%
• Start of benefit in March 2021: 8.97%
• Start of benefit in April 2021: 8.04%
• Start of benefit in May 2021: 7.63%
• Start of benefit in June 2021: 6.61%
• Start of benefit in July 2021: 5.97%
• Start of benefit in August 2021: 4.90%
• Start of benefit in September 2021: 3.99%
• Start of benefit in October 2021: 2.75%
• Start of benefit in November 2021: 1.58%
• Start of benefit in December 2021: 0.73%

For those who earn the benefit in the amount of the minimum wage, the amount was set at R$ 1,212. According to the INSS, currently, 23.4 million benefits receive payment equal to the minimum wage. In all, the institute makes 36 million payments monthly.

The variation in the minimum wage and benefits was 10.18%, slightly above the 10.16% of the INPC variation last year. Despite the increase above the minimum wage, policyholders who earn the minimum wage will not have a real gain. About R$ 2 of the readjusted amount refers to the compensation owed by the government last year, when inflation was higher than expected.

INSS policyholders will start receiving their readjusted benefits from January 25, when those earning the minimum wage have their deposits referring to the February payroll. Whoever receives more than the floor will have the first benefit with the readjustment of 10.16%% from February 1st.

In order to know the exact date of payment, the insured person must consult the number of his benefit and consider only the second-to-last digit – the INSS discards the digit. The benefit number is 10 digits long and appears in the following format: 999,999,999-9.

The new minimum wage does not only affect pensions. Other payments, such as unemployment insurance, payment of MEI (individual micro-entrepreneurs), the value of the PIS/Pasep allowance and the limit for receiving judicial arrears beforehand are also adjusted by the minimum wage.