INSS 2021 – What changes in retirement?
Three of the transition rules determined by the Pension Reform, enacted on November 13, 2019, will be updated in 2021.
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Therefore, these rules specifically apply to INSS (National Social Security Institute) policyholders who already contributed to Social Security before the amendment.
Therefore, the rules are valid for those who were already in the system, but did not yet have the necessary conditions to retire.
After all, the Pension Reform made retirement more difficult, and it was necessary to create transitional provisions in an attempt to lessen the impacts of the new text for a few years.
Points rule
One of the rules is called the points rule, calculated by adding age and years worked. So, today, a woman needs to reach 87 points and a man 97.
Each year until 2023, one additional point will be required. Therefore, by 2021, men must reach at least 98 years of age and women 88.
Contribution time rule
This rule also requires a minimum contribution period of 30 years for women and 35 for men. However, you only need to reach that age to be eligible for retirement.
Thus, today, men can apply when they reach 61 years of age and women 56.5 years of age. In 2021, they will need to be 62 and 57, respectively, as the required time increases every 6 months.
Minimum age rule
Under this rule, it is necessary to have 15 years of contributions, whether male or female.
Today, men can retire from the age of 65 and women from the age of 60.
In 2021, as in subsequent years, there will be changes only for women. The minimum age will increase by 6 months each year. Therefore, women must be 61.5 years old in 2021.
How to calculate?
The retirement amount is calculated in the same way as the 3 transition rules: 60% of all contributions from 1994 onwards, plus 2% for each year contributed from 20/15 years onwards.
