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Good news for INSS retirees who earn more than the minimum wage: a significant increase is on the way. This eagerly awaited change reflects the government’s commitment to adjusting benefits to the current economic reality.
The adjustment, which is based on inflation, is applied to the January payroll, with payments following the usual schedule, starting on the 25th. Therefore, it is important to highlight that retirees who receive up to a minimum wage have already experienced a real gain, with an increase above inflation.
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Details of the increase in INSS
The increase for those earning above the minimum was 6.97%, almost double the inflation, raising the minimum wage from R$1,320 to R$1,412. Therefore, this adjustment considered the accumulated inflation up to November, which was 3.85%, and also the GDP growth of the previous two years. Thus, the INSS ceiling, which is the maximum amount for any benefit paid by the institute, is now R$7,507.49. This amount also represents the maximum contribution that any insured person can make.
INPC vs IPCA
The IBGE (Brazilian Institute of Geography and Statistics) publishes two inflation indexes every month: the IPCA, which is the country's official inflation rate, and the INPC, which has a special weight for items consumed by families with incomes of up to five minimum wages. Thus, the INPC is used to adjust the INSS (National Institute of Social Security) and in negotiations between categories of workers. This is expected to be the only salary adjustment in the country this year, in line with the previous government's forecasts and the current president's campaign promises.
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This increase is encouraging news for retirees who can look forward to a little extra financial relief in challenging economic times. It is therefore a positive step towards ensuring that benefits reflect current economic conditions and help maintain a stable standard of living for the nation’s retirees.
