APPROVED new CUT in the INSS ceiling affecting thousands of elderly people

Last Wednesday (24), the National Social Security Council (CNPS) approved a new reduction for the interest ceiling on INSS payroll loan (National Social Security Institute). Since the beginning of 2023, there have been seven consecutive drops in maximum collection.

With the new cut in the interest ceiling for INSS payroll, retirees and pensioners will be able to take out a loan with a lower charge. In addition to the loan, the credit card in which the invoice is recorded also received a cut in interest rates.

New INSS payroll interest rate

To the INSS payroll interest rates will depend on the banks. What the National Social Security Council did was cut the ceiling for this charge, that is, the maximum that can be charged by financial institution.

In this modality, the portion of the credit is deducted from the retiree’s or pensioner’s salary. Today, up to 45% of the citizen’s benefit may be compromised with consignment35% with a loan and a maximum of 5% with a credit card.

• Loan interest ceiling: fell from 1.72% to 1.68% per month;
• Credit card interest ceiling: fell from 2.55% to 2.49% per month.

For the representative of retirees, Tônia Galleti“reducing rates is a fundamental measure to maintain debt level of retirees and pensioners at a healthy level”.

When does the new interest rate come into effect?

Retirees and pensioners can check the interest rates applied to each bank using Meu INSS. I teach how to do it in this matter.

The new cut applies to INSS retirees who take out credit from:

• Five working days after the approval of the CNPS, which occurred on April 24;
• In other words, the new rates will come into effect on May 2, 2024.

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