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The year 2024 brings good news for Brazilian workers with the official announcement of the increase in PIS (Social Integration Program). Thus, this program, together with Pasep (Public Servant Asset Formation Program), plays a crucial role in the country's income distribution policy. Therefore, with this increase, private-sector workers and public servants can expect a significant increase in the amounts received.
Before detailing the increase, it is important to understand what PIS and Pasep are. PIS, administered by Caixa Econômica Federal, is for private-sector workers, while Pasep, managed by Banco do Brasil, is for public servants. Both programs aim to distribute part of companies' profits to workers and function as a fund for emergencies and retirement.
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Updated PIS amount in 2024
The big news for 2024 is that the PIS amount will be higher than in 2023. The government confirmed that the new amount, corresponding to the current minimum wage, will be R$ 1,412. Thus, this amount will be paid in a single installment, ensuring that beneficiaries receive the full amount on the payment date. Workers born in January will begin receiving the new amount starting next month.
Eligibility and payment schedule
To be entitled to PIS in 2024, the worker must have worked with a formal employment contract for at least 30 days in 2022, earning up to two minimum wages. In addition, they must have been registered with PIS for at least 5 years and be listed among the workers submitted by the company in the RAIS Declaration (Annual Report of Social Information). The PIS 2024 payment schedule begins in February, following the order of the workers’ birth months, with specific dates for each month.
PIS is more than a financial benefit; it represents a fundamental right of Brazilian workers. The increase in the PIS amount for 2024 reflects the government's commitment to valuing work and improving citizens' living conditions. This increase not only provides direct financial relief but also reaffirms the importance of inclusive and equitable public policies. For more information, visit the benefit's official website.
