O National Social Security Institute (INSS) changed the rules for those who want to retire and was contributing before the year 1994. Because it was precisely in that year that the real, the country's new currency, came into force. If you want to know how the retirement calculation will be for those who worked before 1994, then keep reading!
These changes directly affected the calculation of pensions, which started to consider the values of contribution wages made from July 1994 onwards. The new guideline determined that the contribution time made before July of that year would continue to count normally, but not their amounts. The government understood that the currency change generated difficulties in its conversion, even more so because of the inflation at the time.
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But for the INSS, with the arrival of the real, it became easier to take into account the amounts of contributions made.
For those who had a good amount of contributing time in July 1994, but still haven't made it meet the necessary requirements for retirement, the INSS will only consider amounts from July 1994. Therefore, you will be able to retire if you are in the following situations:
For men, the individual must be 65 years old and have a grace period of 180 months. In the case of women, they will need to be 60 years old and have a grace period of 180 months.
The INSS will make an average of 80% of your highest contribution wages to stipulate the amount of the benefit, so, of this average, you will receive 70% + 1% each year of payment.
The male individual will need to have 35 years of contribution and 180 months of grace period. Female individuals, on the other hand, will need to have 30 years of contribution and 180 months of grace period.
An average of 80% of their highest contribution wages will be made, but in this case, the woman receives 70% with 25 years of contribution and the man with 30 years of contribution + 6% for each complete year in activity, up to a maximum of 100%, when the woman reaches 30 years of contribution and the man, 35 years of contribution.
The points rule will not apply in this case as it only came into existence in 2015. The calculation of the retirement that is made according to the contributions made before July 1994 will only be valid.
If before that period you already had a good contribution, apply for retirement according to the rules mentioned above. With this, your benefit will be converted into real in the appropriate proportion. But it is worth remembering that this rule only applies to those who have not yet retired.
