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The credit card limit of those insured by the National Institute of Social Security (INSS) will be larger. The municipality recently announced that it will increase the maximum value of operations to 1.6 times the beneficiary’s monthly income. The measure proposed by the National Social Security Council (CNPS) has already been published in the Official Gazette of the Federation.
Previously, retirees and pensioners who applied for the service on a payroll basis, that is, with a payroll deduction, had a limit of 1.4 times the amount of monthly income. Other changes were also suggested, this time in the loan modality.
Calculation to know the new limit of the INSS credit card
In practice, to know the limit of the card under the condition of insured by the INSS, the citizen only needs to multiply the amount of the benefit by 1.6 times. This calculation, however, is done to find out what the maximum value Credit available if the credit card is accepted under the institute’s retiree and pensioner conditions.
Note: for each minimum wage paid to the beneficiary, the card limit can reach R $ 1,672. If you receive R $ 1,800, for example, multiplying by 1.6 will give you R $ 2,880 of maximum value for use in the credit tool.
New loan rules
The recently published text also modifies the grace period for the payment of the first installment of a loan insured by the INSS.
During the state of public calamity, decreed by the new coronavirus, the institute authorizes payroll loan operations with a grace period of up to 90 days. However, it is worth mentioning that this time cannot be considered when calculating the 84 months foreseen for the settlement of the contract.
The wait to carry out financial transactions, with the benefit of the INSS as guarantee, also underwent changes. The term, which was previously 90 days, will be only 30 days during the state of public calamity. Anyone who has recently retired or started receiving a pension will benefit and will be able to authorize release for faster payroll loans.
Also read: INSS will pay R $ 970 million in arrears. Know when you receive
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