From February 1, INSS (National Institute of Social Security) pensioners and pensioners who earn above the minimum wage will see their benefit revised by 3.71%. As has happened in recent years, there will be no real increase for these beneficiaries.
The correction is only equivalent to the INPC (national consumer price index) recorded from January to December last year. The index measures the increase in the cost of living for families with incomes up to five minimum wages.
Anyone who started receiving benefits above the minimum starting from February 2023 will have an adjustment proportional to the change in INPC over the period.
The calculations made by the report with the Roberto de Carvalho Santos Advogados Associados firm show the new value of pensions and pensions with proportional adjustment rates for those who started receiving the benefit in 2023. The first column, with the % adjustment, consider those who have already been retired before the start of 2023 and grants began in January last year.
Pensioners and pensioners should note that adjusted values may have IR (income tax) discounts if they are above the exemption limit.
Last year, the federal government revised the income tax exemption range by 10.92%, which went from R$1,903.98 to R$2,112. Furthermore, a standard discount of R$528 will be given for all income groups.
Read also: Understand why the inflation you believe may be above or below the HICP
As a result, salaries, pensions and pensions up to R$ 2,640 no longer pay tax. Retirees and retirees over the age of 65 have an advantage: regardless of income, federal revenue exempts an additional amount of R$ 1,903.98 from the benefit.
Without updates since 2015, the Fiscal Service table increases the lion’s bite, especially in benefits at the limit of the contribution band. If the adjustment changes the benefit range, the IR discount may be greater than the previous year.
Calculations by Unafisco Nacional (National Association of Federal Revenue Tax Auditors of Brazil), considering the December IPCA projection, point out that if there was a correction of the income tax table for inflation, more than 13 .7 million taxpayers would be exempt from tax returns in 2025.
BENEFIT FOR THE AMOUNT OF THE MINIMUM WAGE
Currently, Social Security provides more than 39 million benefits, of which approximately 26 million are equivalent to a minimum wage.
These beneficiaries receiving the minimum wage will have earned above inflation, as the 2024 minimum wage, set at R$1,412, increased by 6.97% compared to last year.
The value was defined on the basis of inflation between December 2022 and November 2023, equal to 3.85% and a further three percentage points relating to the expansion of the 2022 GDP (Gross Domestic Product).
All INSS benefits have an amount limit. It is called INSS Roof, which also varies based on the INPC percentage. From the current R$7,507.49 the ceiling will increase to R$7,786.01 in 2024.
The index was published this Tuesday (1/11) by the IBGE (Brazilian Institute of Geography and Statistics) and will also readjust the INSS ceiling, which is the maximum value for both social security benefits and contributions collected to Social Security.
The payment date depends on the last benefit number, without considering the check digit that appears after the hyphen. For example, if it were 987,654,321-0, the payment would occur on the date set for the number 1. This year, benefits equal to a minimum wage ending in 1 will be paid on January 25.
Pensions and pensions with deadlines 1 and 6 will be paid with this year’s adjustment starting from the 1st of the following month. Discover the complete calendar.
The 2024 calendar still contains payments starting in December 2023, which will be paid in the following month.
Insured persons can check the value of the benefit on the Meu INSS website. After logging in, on the home screen, click on the “Account Statement” service.
If you do not have internet access, simply call Central 135. You will need to provide your CPF number and confirm your registration information to avoid fraud. The service is available from Monday to Saturday, from 7:00 to 22:00.
The amounts are deposited into the beneficiary’s account, whether opened at retirement or a checking or savings account designated by the insured.
Anyone with a benefit account must withdraw money or transfer it. The charging function cannot be used in this model.
If the amount falls into a current account, the beneficiary can carry out the usual banking operations, such as paying bills by card or via Pix, making transfers and other negotiations, just like someone who has a savings account.
2024-01-11 22:31:00
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