A decision taken by the STF may be beneficial for policyholders who started their contribution to the INSS in the period before 1994 and retired after 1999. Check out what has changed in the new review of pensions approved by the Supreme Court.
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On February 25, the Federal Supreme Court constituted a majority for pensioners and retirees registered with the National Institute of Social Security (INSS) have the right to review the all life. It is the recalculation of the value of the benefit based on all the time worked by the citizen.
The decision in favor of reviewing the whole life, which was tied at five votes, received a casting vote from the Minister Alexandre de Moraes, who thoroughly analyzed the impacts that this revision would have on the budget public.
This decision was taken after several INSS retirees filed a lawsuit against it, in order to request that all your social security contributions prior to 1994.
The request for this review of the benefit can be made by insured persons who started contributing to the INSS before 1994 and retired after 1999. After the previous year, the account of the value of the benefits started to be made based on the contributions collected right after the implementation of the Real Plan.
The INSS will use wages made in reais as the basis for the retirement payment, in order to calculate the average wage. The government believes that this recalculation of the value of benefits will have negative consequences for public coffers, and could become a real catastrophe. Predictions are that this social security impact on public accounts will be approximately 46 billion reais by 2029.
What worries many people and specialists is the fact that they believe that the INSS is not capable of distributing all this money without causing a hole in the institution. So far there are almost two million requests for the review to be carried out, and this number will only grow more and more.
