The Ministry of Social Security published this Monday (9) rules for banks to join the Meu INSS Vale+ program, which aims to offer advances of up to R$150 on benefits from the National Institute of Social Security (INSS).
Launched at the end of November, Meu INSS Vale+ is, in practice, a type of consignment. The difference is that the amount offered will be deducted – in a single installment – directly from the insured’s benefit without interest and fees in the month following the advance.
According to the institute, the initiative aims to cover the beneficiary’s immediate needs, such as medicine, food, cooking gas and transportation, in order to prevent retirees and pensioners from resorting to loans to pay for small expenses.
The limit of R$150 may be readjusted or revised after 90 days of the launch of the advance payment.
The expectation is that at least 38 million people will benefit, of which 31.7 million receive pensions and 6.3 million Continuous Payment Benefits (BPC).
Salary advance
According to the rules published this Monday in the Official Gazette of the Union (DOU)financial institutions with at least 12 months of experience with the salary advance service and that have signed an agreement and/or Technical Cooperation Agreement (ACT) with the INSS for this purpose will be able to participate in the new modality.
To this end, financial institutions that express interest in the initiative must sign an addendum to the ACT with the INSS to operate the new salary advance modality.
After receiving instructions on how to make the advance available, they will have up to 30 days to start operating the new modality. The deadline may be extended for an equal period if delays and systemic adaptation difficulties occur.
Only after the addition to the ACT has been made will policyholders be able to join the advance payment method. According to the INSS, membership rules for policyholders will still be published.
Another important point is that financial institutions that join the initiative will have to issue a physical card with chipat no cost to policyholders, that is, without annual or monthly fees, for the beneficiary to make the advance payment. Furthermore, the card must indicate the best date for making the anticipated advance payment. The card does not allow withdrawals.
Consigned loan
The ordinance with the rules also determines that, after the insured person contracts Meu INSS Vale+, the financial institution will have up to five working days to release the amount on the advance card. The advance amount will not be considered when calculating the margin for other types of payroll loans.
When the insured person has more than one benefit, the salary advance can be contracted for each of them. The use of the advance benefit to place physical or electronic bets is not permitted. Control to prevent use in betting will be carried out using the company’s National Register of Legal Entities (CNPJ).
The ordinance also says that, if there is a due termination of the benefit before the payment of the salary advance installment, the financial institution will bear the loss of the operation.
“According to the regulations of Meu INSS Vale+, the advance will not depend on prior unlocking of the benefit and does not imply co-responsibility of the INSS for debts or commitments of a pecuniary nature assumed by the beneficiary with the consignee financial institutions”, concluded the INSS.
