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Recently, there was a change in the minimum retirement age through the National Institute of Social Security (INSS), which raised concerns and questions among the institute's insured individuals. Men are now required to be at least 65 years old to retire, while women need to be 62 years old. Both cases also require at least 15 years of contributions to the INSS.
These changes are being implemented in accordance with the Pension Reform, which took place in 2019. The reform introduced several changes to the INSS and retirement benefits. However, the changes are being gradually applied over the years, which led to another recent change.
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In 2019, women only needed to be 60 years old to retire, but the minimum age has now increased to 62. In the case of men, there was no change, meaning that in 2019 they also needed to be at least 65 years old to retire.
Retirement by age is the most common type of retirement through the INSS and may be granted to any contributor to the agency. Both formally employed workers, who contribute through direct debit, and self-employed workers, who contribute through the Social Security Guide (GPS), can retire by age.
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In addition, rural workers can also retire by age, but under different criteria. In this case, male rural workers can retire at age 60, while rural women are entitled to the benefit at age 55. It is worth remembering that in these cases, it is also necessary to have at least 15 years of contributions to the INSS.
There are two other types of retirement through the INSS besides retirement by age. Special retirement is intended for workers exposed to unhealthy working conditions, while disability retirement is granted to workers who are unable to perform their work due to a physical or mental illness.
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Before the Pension Reform, there was a fourth retirement option, known as retirement based on contribution time. Under this model, workers were entitled to retirement based on their contribution period, regardless of age. However, the Pension Reform eliminated this form of retirement and established a requirement of at least 15 years of contributions for age-based retirement.
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The National Institute of Social Security (INSS) is an autonomous government agency that operates in partnership with the Ministry of Labor and Social Security. As an autonomous agency, it has economic, technical, and administrative autonomy, but it is overseen by the State, which may provide resources. INSS is responsible for receiving workers' contributions and administering the General Social Security Regime, which includes paying benefits such as retirement, unemployment insurance, sickness benefit, survivor's pension, maternity allowance, incarceration allowance, and others. It was created on June 27, 1990, and officially established by Decree No. 99.350.
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