The National Social Security Institute (INSS) suspended the transfer of resources to Banco Master after identifying signs of irregularities in payroll loan contracts signed with retirees and pensioners. The measure was adopted after internal analyzes highlighted non-compliance with the institute’s rules, in addition to relevant flaws in the documents.
Among the problems identified are the absence of essential information in contracts and problems in validating electronic signatures used in operations.
The decision was confirmed by the president of INSS, Gilberto Waller Júnior, in an interview with GloboNews this Friday (16). Since September last year, Banco Master was prevented from granting new loans to retirees and pensioners, because the cooperation agreement with the INSS was not renewed. However, the body continued to transfer resources to the Master related to the contracts in force.
Approximately R$ 2 billion, relating to around 254 thousand contracts, remain under INSS investigation. These amounts remain retained and can only be released if the regularity of operations is proven.
Complaints
The blockade occurred after an increase in the number of complaints from beneficiaries about loans taken out at the institution. According to Waller Júnior, INSS asked the bank to send copies of the contracts for detailed analysis.
The technical assessment concluded that the documents did not adequately present the interest rate or the total effective cost of the operations, in addition to using a model considered insufficient given the requirements established by the authority’s rules. Another problem involves the signatures of policyholders, which appear as electronic, but do not present the QR Code that would allow authenticity to be verified.
According to the institute’s president, the bank attempted to negotiate to release the funds, but the request was denied. He stated that the amounts will continue to be blocked until it is proven that the signatures actually belong to retirees and pensioners. Meanwhile, the resources remain in the custody of the public authorities.
Meeting
The INSS scheduled a meeting with the liquidator of Banco Master, Eduardo Félix Bianchi, to discuss the case and establish a deadline for settling the outstanding issues. If the bank is unable to prove the validity of the signatures within the defined period, the payroll contracts will be canceled, and the amounts unduly deducted will be returned to the beneficiaries.
The president of the INSS also recommended that retirees and pensioners who had discounts on their benefits from September onwards contact the institute’s ombudsman’s office to register complaints and help with the investigation. The intention, according to him, is to ensure the protection of policyholders and the correctness of operations carried out on the payroll.
Agreement with banks
In addition to the case involving Banco Master, the INSS announced this Friday an agreement with the Brazilian Federation of Banks (Febraban) and the Brazilian Association of Banks (ABBC) to resume charging the operational costs charged to financial institutions that offer payroll loans.
With the agreement, financial institutions will have to pay R$148.4 million to continue offering consignments to retirees and pensioners. Provided by law, the charge has been suspended since 2022 and is now being regularized.
According to the institute, the measure strengthens the governance of the payroll system, ensures compliance with legislation and contributes to the financial balance of the operation, without generating losses for Social Security beneficiaries.
