INSS ceiling may go to BRL 6,832.45 next year with the 6.2% readjustment of the minimum wage | Economy

Like workers, INSS policyholders will only know the actual amount in January 2022Brazil Agency

With the forecast increase in the minimum wage in 2022 from BRL 1,100 to BRL 1,169, according to federal government projections released on Tuesday, 31, in the Annual Budget Bill (Ploa) sent to the National Congress, the ceiling of the National Institute of Social Security (INSS) may rise to R$ 6,832.45 next year.

The ceiling is the maximum amount paid in retirements and other institute benefits. In the case of the minimum amount, the floor for INSS retirement is the same as the minimum wage, so it would be R$ 1,169.

The value presented in the Ploa is just an estimate, since the rate that will actually be used will only be informed in January 2022. Next year, the IBGE will release the final result of the inflation measured from January to December of this year.

The increase of BRL 69 in the minimum wage represents an increase of 6.2% and takes into account the National Consumer Price Index (INPC), a rate that serves as a correction, at least, for remuneration, informed by the Ministry of Economy . However, the readjustment does not represent a real increase (above inflation) as the growth will be equivalent to the INPC.

According to a technical note from the Inter-Union Department of Statistics and Socioeconomic Studies (Dieese), the minimum wage is the reference income for 50 million people in Brazil. In this universe, more than 24 million are beneficiaries of the National Social Security Institute (INSS).

This year, the minimum wage did not replace last year’s inflation. The government presented a correction of 5.26%, but the INPC reached 5.45% in 2020.