The retired and pensioner of the National Institute of Social Security (INSS) will gain more time to pay off payroll loans. The Minister of Social Security, Carlos Lupi, announced on Wednesday (5) the increase in the payment period of installments from 84 to 96 months (seven to eight years).
The decision also benefits families receiving the continued benefit (BPC). According to the minister, the INSS equaled the deadline of the assigned to that of the same type of credit to public servants. The change, said the minister, will alleviate the value of the benefits.
“We are following this deadline and with that we hope to relieve the weight of the installment a little. We arrived at the decision earlier this year for the amount of payroll loans that exists, more than 16 million, and the squeeze that people go through, ”the minister said at a news conference.
This Thursday (6), the INSS will publish a normative instruction with the increase in the deadline. The extension applies so much for those who have traditional payroll loans, payroll credit card and benefit payroll.
Lupi also explained that, in all three cases, the insured may renew the credit with another 12 months to pay. The minister reported that Social Security and INSS have made simulations and that the new rules bring advantages to banks because default is close to zero in this modality.
“The change is positive for the financial system, because it enables a broader negotiation [entre os bancos e os tomadores]”He said.
Interest -ceiling
The increase in the deadline occurs about a month after the National Social Security Council (CNPS) approve the Increased interest ceiling in the INSS payroll loans. Personal loans rates went from 1.66% to 1.8% per month. The payroll interest of the payroll credit card was maintained at 2.46% per month.
The ceiling was high because of recent increases in the Selic rate (basic interest rates of the economy), currently at 13.25% per year. With the high interest rates, banks stopped offering the INSS payroll loans. Financial institutions asked for a larger ceiling of 1.99% per month.
The Welfare Minister avoided stating whether the payroll ceiling will continue to rise, even with the Central Bank confirming another rise of 1 Percentage Point at Selic in March. “We have no direct binding and we have never had the decisions of the Copom. The general market is not guaranteed that it is the payroll discount that the payroll has. Our default rate is the lowest among all types of loans, ”said Lupi.
The president of the INSS, Alessandro Stefanutto, said that the increase in the deadline does not change the practical situation, in which most borrowers reach the end of a loan hiring another. According to him, in practice, there is currently an almost unlimited extension of some financing.
“The increase in the deadline does not change this status. He [o segurado do INSS] Having a cheaper portion, which does not compromise your survival, we give a greater chance that it is not tempted replacing, reprogramming, ”said Stefanutto.
INSS payroll
Credit modality controlled by the Ministry of Social Security, the payroll loan of the INSS allows the discount of installments directly from the insured’s payroll.
From current rules, retirees, pensioners and other INSS beneficiaries can compromise up to 45% of the benefit to payroll, of which 35% to personal loan, 5% to payroll loan card and 5% to the benefit card.
Responsible for defining the payroll ceiling of the payroll and the conditions of the credit modality, CNPS has six representatives of the federal government, three of retirees and pensioners, three of the workers and three of employers.
