People who receive Continuous Cash Benefit (BPC) and Auxílio Brasil will be able to take out a payroll loan, a modality of access to credit until then limited to retirees and pensioners of the National Institute of Social Security (INSS) and public servants. The novelty is contained in a Provisional Measure (MP) signed by President Jair Bolsonaro this Thursday (17), in a ceremony at Palácio do Planalto. The event marked the launch of the Income and Opportunity Program, which also includes the release of withdrawal from the Severance Indemnity Fund (FGTS) and anticipation of the thirteenth for INSS retirees.
Payroll loans are those granted with automatic payroll deductions. As it is guaranteed by a direct discount on salary or benefit, this type of personal credit operation is one of those offering the lowest interest rates on the market. In addition to making payroll loans possible for other social segments, the government also increased the consignable margin from 35% to 40% of income, reinstating the percentage that has been in force for most of the past year. This assignable margin is precisely the maximum percentage of income that can be used to pay these loans.
The MP also defines that 5% of the new assignable margin may be allocated to withdraw or amortize credit card expenses, a percentage already foreseen and that will follow the same. The remainder (35%) is for the personal loan with account credit.
According to the government, the measure can reach more than 52 million people, including the approximately 30.5 million INSS retirees and pensioners, the 4.8 million beneficiaries of the BPC and the 17.5 million beneficiaries of the Auxílio Brasil program. . The estimate is to offer R$ 77 billion in payroll-deductible loans to this public.
