See what changes in the payroll loan from 2022

As of January 2022, the margin released for loans deducted directly from the payment of the INSS (National Social Security Institute) will again be up to 35% of the benefit, with 30% for the payment of personal loans and 5% for related debts to credit card charges or withdrawals.

According to the INSS, there is no forecast that the MP (Provisional Measure) that increased the margin, to 40%, in March of this year, will be extended.

Retirees, pensioners and public servants who need to borrow money to pay the bills have until December 31 of this year to use the larger margin, released by the federal government in March to ease the economic effects of the Covid-19 pandemic.

The suspension of payment of installments of the new contracts, offered by the MP, will also no longer be mandatory. Before signing the contract, the insured must check with the bank or finance company whether the possibility exists and whether the postponement will increase expenses with interest and fees.

Due to the ease of granting and having the lowest interest rates in the market, payroll is the most popular type of loan, but it requires care.

The interested party must know their real financial situation before taking any credit and be sure how long it will take to pay off the debt.

“Before looking for the payroll loan, it is necessary to be aware that the cost of living should be reduced by up to 40% of the monthly income, because this payment will reduce your monthly income directly in your retirement benefit”, says Reinaldo Domingos, president of Abefin ​​(Brazilian Association of Financial Educators).

To check how much the benefit can be committed with loans, the interested party can access My INSS, website or application, go to the “Highlighted Services” option, and click on “Loan Statement”.

Each pensioner or retiree can take out up to nine loans and have a consigned credit card at the same time. In addition to the consignable margin, this type of credit card has a spending limit.

According to data from the Central Bank, in June 2021, the number of active payroll loan operations was 54.1 million.

Payroll Margin | Know what changes in January

• In January 2022, the special measures applied in the INSS payroll expire and return to the old rules
• Retirees and pensioners may commit up to 35% of their monthly income to pay installments directly debited from their benefits

INCREASE IN PANDEMIC MARGIN

• In March 2021, the government authorized an increase in the payroll margin to 40% for INSS beneficiaries and public servants by the end of this year
• The expansion had already been adopted in 2020 to try to reduce the economic impacts generated by the Covid-19 pandemic
• Those who hire payroll until December 31 may have the extra percentage, regardless of the date on which payment is completed.

Until December 31, 2021

It is possible to compromise:

• 35% of the benefit amount for the payment of personal loans
• + 5% for debits related to expenses or payroll-deductible credit card withdrawals

what changes in 2022

According to the INSS, so far, there is no possibility of maintaining the margin at 40%

The forecast is that in 2022 the rule will return to:

30% for payment of personal loans
+
5% to the credit card

How to know how much I can borrow

• INSS retirees or pensioners who want to take out a loan should consult how much of the benefit they have already committed and how much they can still hire per month
• The consultation of the so-called consignable margin can be done on the Meu INSS website or on the app with the same name

See three steps to check your consignable margin

1. Access My INSS
2. Inform CPF and password; if necessary, enter an email to receive a validation code
3. Under “Featured Services”, click on “Loan Statement”

How many loans can I make?

• According to the INSS, the insured can make up to nine personal loan contracts
• In the case of credit cards, only one contract is allowed
• Interest rates are the lowest in the market, averaging 2% per month, and the settlement period can reach 84 months

Attention!

The interest rates offered by banks vary according to the client’s profile
Ideally, search to get the best deal.

Electronic signature

• An INSS pilot project allows electronic signature for payroll loan validation
• The measure will only be valid for payroll-deductible loans made digitally, through electronic devices such as cell phones, computers and tablets
• When applying for the loan, the retiree will receive a link to the biometric recognition
• It will be necessary to take a photo to cross-reference data from the Institute of Registration of Titles and Documents and Legal Entities of Brazil

Check the statement

The insured can consult the Meu INSS for the loans linked to his/her benefit on a monthly basis.

1. Access My INSS with login
2. Click on the “Loan Statement” option
3. If you receive more than one social security benefit, consult one at a time
4. The screen will show the benefit information and the consignable margin
5. If you prefer to print, click on “Download PDF”

undue discount

• Discounts from loans and other debts can only be made on retirement if authorized by the beneficiary
• The retired victim of harassment or abuse by financial institutions may request the refund of the discounted amounts

where to complain

• The first claim for undue discount must be made to the responsible company
• Afterwards, the complaint must be registered on the consumer.gov.br website
• The bank or finance company will have ten days to respond, which will be evaluated by the retiree
• If the person responsible for the discount does not return the money, the way is to complain to Procon
• For those who live in the state of São Paulo, the website is www.procon.sp.gov.br

Security Tips

Block credit for one year

• If you do not intend to hire the payroll, ask for the blocking of calls from credit companies on the website https://www.naomeperturbe.com.br/
• The lock is valid for one year

Beware of personal data

• Do not enter personal data over the phone
• The INSS does not ask for any personal data or the benefit number

don’t borrow your name

• Avoid borrowing your name
• If the person is unable to pay, it is the retiree who will have to bear the debt and have a dirty name

keep an eye on the statement

Follow the benefit statement monthly to verify that no contracts were made irregularly

Sources: INSS; Law No. 14,131, of March 30, 2021; Serasa teaches and reporting