Retirement could reach R$6,300 in 2021; See!
The National Social Security Institute (INSS) may have a ceiling of R$6,351.00 in 2021, since the adjustment of the minimum wage values is expected to be higher than the Budget Guidelines Bill (PLDO) for this year.
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The change will be extremely positive for retirees and those who currently receive a minimum wage (R$ 1,045.00).
The Ministry of Economy revised its projection for the National Consumer Price Index (INPC), raising the expectation from 2.35% to 4.39% in 2020. The INPC is used as a basis for establishing the value of the minimum wage and benefits paid by the INSS.
If the increase is confirmed, the minimum wage will increase from R$ 1,045.00 to R$ 1,100.00 in 2021, while the maximum wage would increase from R$ 6,101.06 to R$ 6,351.20.
Other INSS benefits may also be impacted by this possible adjustment, including:
- Accident assistance;
- Sickness benefit;
- Disability retirement;
- Continuous Benefit Payment (BPC).
Who can receive the raise?
The possibility of retiring with a higher ceiling in 2021 only applies to those who contributed a larger amount for most of the time.
In addition, it is necessary to meet the age and contribution time requirements to guarantee more than 100% of the average salary.
According to Conde Consultoria Atuarial and the Institute of Social Security Studies (IEPREV), the amount will be R$ 5,628.00 for the taxpayer who has paid over the ceiling and can retire with full benefits in November 2020. The number corresponds to a reduction of R$ 472.81 and in relation to the current ceiling of R$ 6,101.06.
How is the calculation performed?
Although the rule used to calculate the amount may change over time and depending on the type of benefit, it is generally based on the average salary on which the contributor paid social security contributions after Brazil's currency became the real in July 1994.
Therefore, the average salary considered by the INSS refers to all contribution salaries registered since July 1994.
Therefore, only those who earn more than 100% of the average value of all contributions made above the ceiling will be able to receive the high amount.
