On August 31, the Ministry of Economy sent the Annual Budget Bill (PLOA) to the National Congress, containing the expected expenses for next year. Among them is the expected value of the INSS 2022 ceiling.
The National Institute of Social Security (INSS) is responsible for the retirement and pension payments of millions of Brazilians. The money transferred by the government is calculated annually, following rules already established by law.
INSS ceiling: value for 2022
According to the Ministry of Economy, the minimum amount to be received (floor) will be R$1,169. From then on, the ceiling quota was made. Therefore, the maximum amount (INSS ceiling) was established at R$6,832.45.
For the calculations, the Ministry of Economy made a projection that the National Consumer Price Index (INPC) will reach 6.2% at the end of December. Therefore, it is possible that there are still some corrections as the rate changes.
The official amount will only be used in January of next year, when the final INPC rate will finally be known.
The Annual Budget Bill still needs to pass the House and Senate before it goes into effect. The PLOA is one of the obligations of both the parliament and the executive.
The INPC, used for INSS calculations, is a way of measure inflation of the year. Unlike the IPCA (Broad Consumer Price Index), which usually covers the majority of the Brazilian population, the INPC focuses on household income between one and five minimum wages.
The Brazilian Institute of Geography and Statistics (IBGE) is responsible for measuring the index annually and publishing monthly partials. Therefore, the announcement of the rate is much awaited by governments and beneficiaries.