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The Social Security Institute (INSS) will increase the credit card limit from retired and retirees. The recommendation came from the National Social Security Council (CNPS), whose function is to present proposals for improvement in the management of the autarky and in social security policies.
Previously, the insured requesting the service in the form of a payroll loan would have a limit of 1.4 times the monthly income. It is now 1.6. The objective of expanding credit is to offer more ease and purchasing power to the group with one of the most affected by the pandemic, especially at this time of financial instability.
Calculation of the increase
To find out how much the credit card consigned, the insured must multiply the benefit amount by 1.6. Let’s take the example: before, if a beneficiary received R $ 1,045 (a minimum wage) in payroll, they would have a credit limit equivalent to R $ 1,463.
However, with the changes, the amount is now R $ 1,672 – an increase of R $ 209. It is important to note that this calculation is made to know the maximum credit available if the credit card adheres to the pensioner and pensioner conditions of the INSS.
On the consignable margin, it cannot exceed 5% of the monthly income of the beneficiary.
New INSS credit rules
Another change in the INSS linked to the offer of credit is the waiting time to carry out financial transactions with the benefit as collateral. The current 90-day term is suspended during the state of public calamity. Now that period is only 30 days.
Waiting for credit after retirement is a guarantee by the institute that financial abuses against the newly insured will decrease, constantly attended with offers from banks and finance companies. With the new rule, anyone who has recently retired or retired and has already awaited release will also benefit.
Another change has to do with the grace period for the payment of the first installment of a loan under insured status. The deadline is now 90 days. This will allow a greater financial organization for the beneficiary.
The reduction of the release period and the increase of the grace period will remain in effect as long as the state of public calamity is decreed, that is, until December 31 of this year. The change in the extension of the credit card limit for retirees and pensioners will be valid even after the guidelines to combat the pandemic are finalized.
Also read: The 13th INSS salary will be advanced each year; Understand how it will work
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