Release of new consignees: Understanding the changes The margin released for credits deducted directly from the INSS (National Social Security Institute) payment will again be up to 35% of the service, with 30% for the payment of personal loans and 5% for debts relating to expenses or credit card withdrawals.
According to the INSS, the MP (provisional measure) which increased the margin to 40% in March this year is not expected to be extended.
Pensioners, pensioners and civil servants who must resort to loans to pay their bills have until December 31 this year to use the higher margin, released by the federal government in March to mitigate the economic effects of the coronavirus pandemic. Covid-19.
The suspension of payment of installments for new contracts, proposed by the MP, will also no longer be mandatory. Before signing the contract, the insured must check with the bank or financial company whether the possibility exists and whether the postponement will increase the load with interest and costs.
Due to its ease of granting and having the lowest interest rates on the market, the payday loan is the most popular type of loan, but it requires caution.
The person concerned must know his real financial situation before taking any credit and ensure the time it will take to repay the debt.
“Before looking for a payday loan, one must be aware that the cost of living must be reduced by up to 40% of the monthly income, this because the payment of it will reduce your monthly income directly in your retirement allowance. “, says Reinaldo Domingos, President of Abefin (Brazilian Association of Financial Educators).
To check how much you can hire the benefit with loans, the interested party can access Meu INSS, website or app, navigate to the “Featured Services” option and click on “Loan Statement”.
Each pensioner or retiree can take out up to nine loans and have a payday-deductible credit card at the same time. In addition to the attributable margin, this type of credit card has a spending limit.
According to Central Bank data, as of June 2021, the number of active payday loan transactions was 54.1 million.
Deposit Margin | Find out what’s changing in January
- In January 2022, the special measures applied to the INSS payroll will expire and the old rules will apply again.
- Pensioners and pensioners will be able to commit up to 35% of their monthly income to pay installments taken directly from their benefits
MARGIN INCREASE IN THE PANDEMIC
- In March 2021, the government authorized an increase in the payday loan margin to 40% for INSS beneficiaries and civil servants until the end of this year
- The expansion had already been adopted in 2020 in an attempt to reduce the economic impacts generated by the Covid-19 pandemic.
- Those who hire pay until December 31 can have the extra percentage, regardless of when the pay ends
Until December 31, 2021
It is possible to commit:
- 35% of the amount of the benefit for the repayment of personal loans
- +5% for debits related to payroll-deductible credit card expenses or withdrawals
What changes in 2022
According to the INSS, so far there is no possibility of maintaining the margin at 40%
The forecast is that in 2022, the rule will again be:
30% pay personal loans
5% to credit card
How do I know how much I can borrow?
- The retiree or retiree of the INSS who wants to take out a loan must check what part of the benefit he has already committed and how much he can still hire per month
- The so-called assignable margin can be consulted on the Meu INSS website or on the application of the same name.
See three steps to check your attributable margin
- Access my INSS
- Enter the CPF and password; if necessary, inform him by e-mail to receive a validation code
- Under “Featured Services”, click on “Loan Statement”
How many loans can you take out?
- According to the INSS, the insured can conclude up to nine personal loan contracts
- In the case of a credit card, only one contract is authorized.
- The interest rates are the lowest on the market, with an average of 2% per month, and the repayment period can reach 84 months.
The interest rates offered by the banks vary according to the customer’s profile
It is best to do your research to get the best deal.
- INSS pilot project enables electronic signature for validation of payday loans
- The measure will only apply to payroll credit made digitally, through electronic devices such as cell phones, computers and tablets.
- When applying for the loan, the retiree will receive a link to the biometric recognition
- You will need to take a photo to cross-check the data of the Institute for Registration of Titles and Documents and Legal Persons of Brazil
The insured can consult the Meu INSS monthly for the credits related to his service
- Access My INSS with login
- Click on the “Loan statement” option
- If you are receiving more than one Social Security benefit, check one at a time
- The screen will display the benefit information and the attributable margin
- If you prefer to print, click “Download PDF”
- Discounts on loans and other debts can only be made in retirement if authorized by the beneficiary
- The pensioner who is the victim of harassment or abuse by financial institutions can request reimbursement of the discounted amounts
where to complain
- The first claim of the undue discount must be made to the company responsible
- Then the complaint must be registered on the consumer.gov.br website.
- The bank or financial company will have ten days to respond, which will be assessed by the pensioner
- If the person responsible for the remittance does not return the money, the means is to complain to Procon
- For those living in the state of São Paulo, the website is www.procon.sp.gov.br
Block credit for a year
- If you do not intend to contract the payroll, request the blocking of calls from credit companies through the site https://www.naomeperturbe.com.br/
- The block is valid for one year.
Beware of personal data
- Do not provide personal data over the phone
- The INSS does not ask for any personal data or the service number
don’t lend your name
- Avoid borrowing your name
- If the person cannot pay, it is the pensioner who will have to pay the debt and sully his name.
Keep an eye on the extract
Monitor the statement of benefits on a monthly basis to check that no contract has been concluded irregularly – Source: Agora