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With the Provisional Measure (MP) establishing the new Bolsa Família, permission was granted for an additional group of CadÚnico beneficiaries to take out payroll loans from financial institutions in Brazil. The changes also apply to those who receive BPC (Continuous Cash Benefit).
In 2022, the release of credit was allowed for program participants, but, due to the high risk, it was later revoked.
The loan for BPC beneficiaries was then incorporated into the text by the rapporteur of the MP for the new Bolsa Família, Representative Dr. Francisco (PT-PI).
How will the payroll loan work for those who receive BPC?
A payroll loan is a type of credit linked to a social assistance or social security benefit. Thus, the loan installments will be automatically deducted from the beneficiary’s payment.
According to the new Provisional Measure, up to 35% of the monthly income may be committed, with 30% for paying the installments and 5% for expenses with a payroll credit card.
It is crucial to remember that the proposal was approved by the Chamber of Deputies and the Federal Senate. However, the president's sanction is necessary for its implementation. Therefore, the changes will only be effectively implemented after President Lula's signature.
NEW LOAN under CadÚnico is approved.
Therefore, it is not yet known which banks and financial institutions will make the credit available, nor what the terms offered will be, such as the interest rate and number of installments.
Who will be able to apply for the payroll loan?
If approved, all BPC beneficiaries will be able to apply for the credit through financial institutions.
To be entitled to BPC, one must be 65 years old or have a disability. In addition, it is necessary to prove that there are no means to provide for one's own subsistence.
The government program transfers an amount equivalent to a minimum wage to beneficiaries whose monthly family income is up to 1/4 of the national minimum per capita (R$ 330 per person based on the current minimum wage).
How to apply for the BPC?
First, to apply for BPC and soon be entitled to a payroll-deducted loan, the citizen must be registered with CadÚnico (the Federal Government’s Unified Registry). To do so, they must visit the nearest CRAS (Social Assistance Reference Center).
To register with CadÚnico, the person responsible for the family (the one who registers the family) must present their personal documents and those of everyone living in the same household. In addition, they will answer a socioeconomic questionnaire during the consultation.
After registering with CadÚnico, the next step is to apply through INSS. The process is simple and entirely online. Check out the step-by-step guide:
First, download the Meu INSS app on your phone, avail
able for Android and IOS;
Next, log in with your CPF and password. If you do not have one yet, simply register;
After that, select the “New request” option;
Next, click on “Assistance benefits”;
Now, choose between “Assistance Benefit for Persons with Disabilities” or “Assistance Benefit for Older Persons”;
Click on “Update”;
Check the contact information and make the necessary changes;
Lastly, read the instructions on the screen and submit the requested documents.
After submitting the request, it will enter the review process, and the citizen will be able to track its progress. To check the request, simply access the Meu INSS Portal or call the INSS Customer Service Center at 135.
