INSS payroll loan ceiling rises to 1.97% per month

Retirees and pensioners from the National Institute of Social Security (INSS) will be able to take out payroll loans with interest of up to 1.97% per month. For the modality via credit card, the maximum rate will correspond to 2.89% per month.

The values ​​were defined by the National Social Security Council (CNPS), in a meeting this Tuesday (28) in the afternoon and are greater than the limits approved at the beginning of the month, of 1.7% per month for payroll loans and 2.62% per month for the modality via credit card.

The decision fell to President Luiz Inácio Lula da Silva, who arbitrated the impasse between the Ministries of Social Security and Finance. The first folder defended a ceiling of 1.87% per month, equivalent to that charged by Caixa Econômica Federal before the suspension of payroll loans for retirees and pensioners. The Treasury defended a limit of 1.99% per month, which allows Banco do Brasil, which charged a rate of 1.95% per month, to resume lending.

Decided at the beginning of the month to benefit retirees and pensioners with lower rates, the reduction in the payroll-deductible ceiling for the INSS generated controversy. the banks suspended the offer, claiming that the measure caused imbalances in financial institutions. Under protest from union centrals, Banco do Brasil and Caixa also stopped granting loans because the ceiling of 1.7% per month was lower than that charged by the institutions.

With the new limit of 1.97% per month, 18 of the 39 financial institutions that operated payroll loans for the INSS will be able to resume lending. According to the CNPS, the new ceilings will be reassessed within 30 days at the request of President Lula.

divergences

The approval of the new ceilings was not unanimous. After discussions in the plenary, the final values ​​were modulated based on an increase of 0.27 percentage points for both rates. Government members, retirees and workers approved the new limit. Bank representatives abstained, and the National Union of Retirees, Pensioners and Elderly People (Sindnapi), which defended a ceiling of 1.9% per month, voted against it.

In a statement, the Minister of Social Security, Carlos Lupi, stated that the decision of the CNPS at the beginning of the month stimulated the debate around the interest charged on financial operations in Brazil. “We raised the discussion on something that was obscure and shed light on it. Based on that principle, we had several meetings with government teams to define the rate”, commented the minister, who reinforced the importance of public banks in promoting social progress.

Check out the banks that can resume granting payroll loans to the INSS with the new ceiling.

Source: Central Bank