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This week, the Brazilian Institute of Geography and Statistics (IBGE) published the mortality rate in Brazil. The number is important, since it is used as a basis for updating the social security factor, an index that decreases the value of some retirements.
The new factor table is expected to be published next Monday, November 30 and should take effect on Tuesday, December 1.
Now with the Social security reform, the new social security factor it may affect those who enter the 50% toll transition rule to retire, according to information from the Special Secretariat for Social Security and Labor of the Ministry of the Economy.
It is worth noting that the calculation only affects the amount of the retirement of those who are not yet.
Those who are already retired are not affected by the new table.
Social security factor
The social security factor, instituted by Federal Law 9,876 / 99, is a mathematical formula applied to define the value of the employee’s retirement with the INSS.
Its purpose was to control spending on Social Security in the country, discouraging early retirements and / or with little contribution time.
In practice, according to the rules established by the legislation, whoever wants to have a more attractive benefit must work longer before withdrawing from the formal market. In this article we will deal specifically with the characteristics of the social security factor and how to calculate it.
How to calculate the social security factor
To calculate the INSS social security factor, a mathematical formula established by Law 9.876 / 99 is used.
Indeed, this formula is used to define the amount of retirement by contribution period.
Thus, the following variables are taken into account for the calculation: contribution time, age, and expected survival (the latter is prepared annually by IBGE).
The social security factor is individual for each retiree, as it will depend on the factors mentioned above. The mathematical equation used is the following:
f = Tc xa / Es x [ 1 + (Id + Tc x a) / 100 ]
The above formula considers:
- F: social security factor;
- It is: survival expectation at the time of requesting retirement;
- Id: retirement age;
- A: contribution rate corresponding to 0.31.
To do the calculation, after knowing the benefit salary, simply multiply it by the result of the social security factor to find the amount of retirement.
Therefore, the longer the contribution period and the age, the greater the social security factor and, therefore, the greater the value of the social security benefit.
In practice, the worker who wants to retire with a higher value, must work more and be older.
In other words, the younger you are, the lower the social security factor.
Therefore, the younger the age, the greater the cut in your retirement benefit amount.
However, what many do not know is that the way to calculate the INSS social security factor is not always the bad way of pensions.
This is because when the social security factor is greater than 1, it is positive and the benefit amount will increase.
Therefore, in these cases, the retiree will benefit from the calculation of the INSS social security factor.
How to calculate the social security factor
To calculate the INSS social security factor, a mathematical formula established by Law 9.876 / 99 is used.
Indeed, this formula is used to define the amount of retirement by contribution period.
Thus, the following variables are taken into account for the calculation: contribution time, age and expected survival (the latter is prepared annually by IBGE).
The social security factor is individual for each retiree, as it will depend on the factors mentioned above. The mathematical equation used is the following:
f = Tc xa / Es x [ 1 + (Id + Tc x a) / 100 ]
The above formula considers:
- F: social security factor;
- It is: survival expectation at the time of requesting retirement;
- Id: age at retirement;
- A: contribution rate corresponding to 0.31.
To do the calculation, after knowing the benefit salary, simply multiply it by the result of the social security factor to find the amount of retirement.
Therefore, the longer the contribution period and the age, the greater the social security factor and, therefore, the greater the value of the social security benefit.
In practice, the worker who wants to retire with a higher value, must work more and be older.
In other words, the younger you are, the lower the social security factor.
Therefore, the younger the age, the greater the cut in your retirement benefit amount.
However, what many do not know is that the way to calculate the INSS social security factor is not always the bad way of pensions.
This is because when the social security factor is greater than 1, it is positive and the benefit amount will increase.
Therefore, in these cases, the retiree will benefit from the calculation of the INSS social security factor.
What pensions are affected by the factor?
Now, with the pension reform, the factor began to be applied in two ways:
- for those who met the retirement requirements for contribution time before the changes took effect, on November 13 of last year;
- for those retiring by the 50% toll transition rule.
Under the new 50% transition rule, anyone who was two years from completing the minimum contribution time of 30 years for women and 35 years for men in November 2019 can retire without meeting the minimum age established by remodeling.
However, at the time the benefit is calculated, the factor is discounted and the younger, the greater the cut.
Post-retirement pension reform
Whoever retires according to the new rules of the Social Security Reform, will see that the social security factor will eventually fall into disuse. This is because the contribution-time retirement will cease to exist.
Meanwhile, transition rules were created for those who were nearing retirement. The transition rules are as follows:
- toll 50%;
- 100% toll;
- for points;
- minimum age.
In effect, these rules apply to anyone who intends to retire for a contribution period.
Furthermore, the only transition rule that uses the INSS social security factor calculation is the so-called 50% toll rule.
Thus, taxpayers who were less than two years from reaching the contribution time until the date of the Pension Reform, on November 12, 2019, may be entitled to it.
Thus, men with a minimum of 33 years of contribution, and women with a minimum of 28 years of contribution, must fulfill the additional time of 50% of the time that was missing to reach 35 for men and 30 years for women. women.
See also: SAIU! NEW minimum retirement age until the end of 2020 in the INSS
