According to inflation projections as measured by the National Consumer Price Index (INPC), the value of pensions and pensions from INSS may increase by 6.7% in the value of the benefit currently received. In summary, INPC’s 2022 projections are included in the 2023 Budget Guidance Bill (PLDO). The project was sent to Congress by the federal government on April 14.
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What will the new value of INSS retirement and pensions be in 2023?
In short, Congress estimates the minimum wage at R$1,294, which is used as the minimum value for the new INSS retirement and pension. Therefore, a retiree who earns R$ 1,212 this year will be able to earn R$ 1,294 as of January 2023.
It should be noted that the adjustment of the minimum wage and the value of pensions from the National Institute of Social Security does not imply a real increase in income. The adjustment should only correct the value of the benefits based on the progress in inflation in Brazil.
In the case of insured persons receiving a benefit higher than the minimum wage, the value of the INSS retirement and pension must be taken into account in the calculation of the INPC. Given that it reached 6.7%, the new salary should have an increase of the same percentage.
Furthermore, the INSS cap is also the basis for the INPC as a basis for readjustment. Therefore, when considering the current ceiling of R$ 7,087.22 plus the projected inflation increase of 6.70%, the new ceiling for 2023 could be R$ 7,562.
Finally, check out some simulations below of what the value of INSS retirement and pensions should look like in 2023:
|Scholarship amount in 2022||Expected value for the year 2023|
|1,212 Brazilian Real||1294 Brazilian Real|
|1500 Brazilian Real||1,601 Brazilian Real|
|2000 Brazilian Real||2134 BRL|
|2500 BRL||2668 Brazilian Real|
|3000 Brazilian Real||3,201 Brazilian Real|
|3500 BRL||3735 Brazilian Real|
|4000 Brazilian Real||4268 Brazilian Real|
|4500 BRL||4802 Brazilian Real|
|5000 Brazilian Real||5335 Brazilian Real|
|5500 BRL||5,869 BRL|
|6000 Brazilian Real||6,402 Brazilian Real|
|6500 BRL||6,936 BRL|
|7000 Brazilian Real||7,469 BRL|
|7087.22 Brazilian Real||7562 Brazilian Real|
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