Congress extends higher limit of INSS payroll

Congress extended this Friday (13) the MP (Provisional Measure) that expands the payroll loan margin for INSS (National Social Security Institute) retirees and pensioners. The extension is valid for 60 days.

With the measure, it is still possible to commit up to 40% of the value of the INSS benefit: 35% with a direct discount on the payroll and up to 5% to use the payroll credit card, as authorized last year because of the pandemic.

According to Febraban (Brazilian Federation of Banks), banks are already operating the new 40% limit for INSS beneficiaries and pensioners since the issuance of the original MP and publication of legal rules and INSS normative instructions on March 17.

The MP also provides authorization for beneficiaries of the BPC (Benefício de Prestação Continuada) and Auxílio Brasil to apply for this type of loan, but there is no regulation for the modality to be offered.

“As for the beneficiaries of Auxilio Brasil, regulation by the Ministry of Citizenship is still pending, after which the banks will analyze the conditions for offering credit”, says Febraban, in a note.

Before the MP, retirees and pensioners could commit up to 35% of their monthly income to pay installments debited directly from their benefits, 30% for the payment of loans with direct deduction from the payroll and 5% for debts related to expenses or withdrawals with a credit card. credit.

The expansion of the payroll loan margin can encourage retirees and pensioners, but attention and caution are needed to avoid indebtedness.

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

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

According to lawyer Rômulo Saraiva, it is necessary to have a copy of the consignment contract and carefully read the entire document before signing it.

PAYROLL LOAN

• Each pensioner or retiree can take out up to nine loans and have a payroll-deductible credit card at the same time.
• On the card, it is possible to commit another 5% of the income, which increases the total consignable margin to 40%
• The maximum authorized interest rates are 2.14% per month for the loan and 3.06% per month for the payroll card
• The payroll is deducted directly from the benefit payroll, in fixed monthly installments
• That is, until the loan is paid off, the retiree will receive less every month.
• Payroll loans are an option to pay overdrafts, credit cards and personal loans with higher interest rates.
• Experts recommend not taking out a loan to help friends and relatives, as the debt will be with the retiree

What to Ask Before Hiring a Payroll

1) What do I need the money for?
two) Is it really necessary?
3) Does the installment fit into my budget?

Know your consignment margin

Through My INSS, the insured checks his payroll limit and how much he can still commit per month with the loan

1. Access www.meu.inss.gov.br
2. Enter CPF and password
3. Under “Featured Services”, click “Loan Statement”

Beware of Scams

The ease of contracting payroll loans should keep the retiree even more alert to avoid losses

safety tips

Block credit for a year

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

Beware of personal data

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

don’t lend your name

• Avoid borrowing your name
• If the person cannot pay, it is the retiree who will have to pay the debt and get his name dirty.

Keep an eye on the extract

Follow the benefit statement monthly to verify that no contract was made irregularly