The Social Security Council approves a reduction in the salary ceiling for INSS beneficiaries Economy

The National Council of Social Security (CNPS) agreed on Monday (04) to reduce the maximum interest rate charged on loans granted to pensioners and retirees of the National Institute of Social Security (INSS).

Maximum for traditional payroll loans, with payroll deductions, It was reduced from 1.84% to 1.80% per month.

For transactions using credit cards and payroll cards, the maximum interest rate It was also revised from 2.73% to 2.67% per month.

When introducing the line, banks and financial institutions must respect the limits set by the CNPS. The new ceiling will come into effect five working days after the decision is published in the Official Gazette of the Union (DOU).

The impasse between the government and the authorities

At the time, the Department of Social Security proposed reducing the cap on payroll deductions from 1.84% per month to 1.77% per month, following the cuts in CELEC — the standard used in recent resolutions and which has been advocated through the House. Folder.

At the beginning of November, the Central Bank’s Monetary Policy Committee (COPOM) lowered the silica rate for the third time in a row, and the economy’s policy interest rate fell by 0.5 percentage points, from 12.75% annually to 12.25% annually.

On the other hand, the Confederation National de Commerce (CNC), a member of the CNPS, proposed a smaller reduction for traditional payroll loans, from 1.84% per month to 1.80% per month.

Salary cap and Selec

In March, the CNPS decided to lower the interest ceiling on traditional payroll loans for INSS beneficiaries from 2.14% to 1.70%, leading to an impasse with banks.

At that time, Banco do Brasil, Caixa Economica Federal and other private banks temporarily suspended the offer of this credit, stating that prices would not cover the costs of the operation.

The council then agreed to a “compromise,” and the ceiling was set at 1.97%.