Justice cancels the INSS decision and the change affects all retirees and pensioners. Understand the situation

Pensioners and retirees of the National Institute of Social Security (INSS) were surprised by a decision that would affect everyone: The grace period for loans granted by the agency was again set at three months. The rule, created by INSS, which would have made it possible to request the benefit without a waiting period, was overturned by Judge Flavio Jardim.

To take effect, INSS will hold an auction to select the financial institution responsible for providing the payroll loan. However, according to the newspaper globeABBC, which represents the banks, believes that this measure would create a temporary monopoly, violate free competition and the rights of retired consumers and pensioners.

Specialist Laura Alvarenga explains about INSS, watch it.

Was the INSS loan canceled without a grace period?

• Yes, The INSS action was overturned by Judge Flavio Jardim in court;

• For the institute to take effect, it will need to hold an auction to select the financial institution responsible for providing the payroll loan;

  
  

• With the choice of bank, Brazilians who have started receiving retirement or pension can rely on the loan immediately;

• However, a line of credit can only be requested at the institution where the insured receives the benefit;

• However, the rule granting exclusivity to the winning bank in granting credit during the first three months was overturned.

• And now, The 90-day grace period is back in effect Apply for the loan in any institution.

The INSS auction sets the payment path for retirees and retirees

The National Institute of Social Security (INSS) will open an auction, a form of bidding for the purchase of common goods and services, next Tuesday (22). The goal is to select the banks responsible for paying agency pensions and annuities for the period from 2025 to 2029.

To participate in the bidding, it is necessary to be a banking institution with several branches, with the availability of ATMs, the most important of which is not to charge fees to holders of social security documents. Digital banks, which have become very popular among Brazilians, will not be able to participate in the auction.