Starting in January 2024, Brazilians will face an increase in contributions to the National Institute of Social Security (INSS). This adjustment is a direct consequence of the approval of the new minimum wage, which not only affects workers' salaries but also has a significant impact on social security contributions.
For employees, the INSS contribution rate, which is currently 7.5%, will increase proportionally to the increase in the minimum wage. Therefore, for Individual Microentrepreneurs (MEI), the 5% rate will also result in an increase in the monthly contribution. These financial changes are important and require attention from workers.
The new INSS contribution rate reflects the government's commitment to maintaining the sustainability of the social security system while ensuring benefits for contributors. For employees, the contribution will increase from R$$ 97.65 to R$$ 105.90, while for MEIs, the monthly contribution will increase from R$$ 66 to R$$ 70.60. Individual contributors, who pay a rate of R$20% on income between the minimum wage and the INSS ceiling, will also see an increase in their contributions.
See More: How to receive a salary of R$1,040,000 from the government?
Impact of the increase in INSS contributions
The increase in contributions The adjustment of the INSS in 2024 will have a direct impact on the financial lives of Brazilians. It is important that everyone is aware of these changes in order to adjust their budgets and future plans. In addition, the adjustment of the minimum wage will affect other benefits and financial obligations, such as the value of Unemployment Insurance and the requirements for granting social security benefits.
Benefits guaranteed by the contribution
Contributions to the INSS provide a series of valuable benefits, including retirement based on age and length of service. In addition, there is also disability retirement, survivor's pension, temporary disability benefit, accident benefit, imprisonment benefit, maternity pay, family allowance and professional rehabilitation. Therefore, these benefits are essential for the financial security of workers and their families, reinforcing the importance of keeping contributions up to date.
The increase in INSS contributions in 2024 is a significant change that will affect the financial lives of Brazilians. It is essential to be informed and prepared for these changes, ensuring the maintenance of social security benefits and financial stability.
