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Want to retire early? Goodbye to the INSS Minimum Retirement Age! New Law with flexible rules for those who had a formal employment contract!
Goodbye to the Minimum Retirement Age INSS! The year 2024 brought important changes for Brazilians who plan to retire early. The National Institute of Social Security (INSS) revised some of its regulations, making the process more flexible compared to previous years. The new Law seeks to adapt to demographic changes and ensure the sustainability of the social security system.
One of the most notable changes was the relaxation of the minimum age for retirement based on length of contribution. With this change, many workers will be able to retire earlier, without having to meet the minimum age that was previously required. This new development promises to bring considerable relief to those who want to rest after years of contribution. New law
What are the new rules for Retirement by Length of Contribution?
In 2024, changes to the rules for retirement based on length of service include: New law
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- Raising the minimum age: For women, from 58 to 58 years and 6 months; for men, from 63 to 63 years and 6 months.
- Increase in transition rule score by points: Women went from 90 to 91 points; men from 100 to 101 points.
- Rule 86/96 in force: Allows retirement without a minimum age for women with 30 years of contributions and men with 35 years, as long as the sum of age and contribution time reaches 86 points (women) or 96 points (men).
- Benefit calculation formula: Considers 100% of contributions made after July 1994.
- 50% and 100% toll: For those who were close to retirement before the Social Security reform, there are transition rules with tolls on the time remaining to meet the requirements prior to the reform.
These changes mainly impact those who already contributed before the Social Security reform, which took place on November 13, 2019. For those who started contributing after that date, the new general rules apply, with a minimum age of 62 for women and 65 for men, in addition to a minimum contribution period of 15 years (women) or 20 years (men).
How to check your contributions and understand the new INSS law?
With the new rules in place, it is essential to understand how they impact your future retirement. The INSS offers several tools to help contributors, from online services to in-person assistance. Here are some ways to check your contributions and better understand the reforms: New law
- My INSS Platform: Simple and functional access to check statements, schedule assessments and update data.
- My INSS application: Allows you to manage your contributions directly on your smartphone.
- Telephone Exchange 135: Telephone service to clarify general queries.
- INSS Agencies: In-person service for more detailed and personalized assistance.
What is Formula 86/96?
A formula 86/96 It is a retirement rule that allows workers to retire without a minimum age, as long as the sum of age and contribution time reaches 86 points for women and 96 points for men. New law
How it works:
- For women: The sum of age and contribution time must reach 86 points. For example, a 56-year-old woman with 30 years of contribution can retire.
- For men: The sum of age and contribution time must reach 96 points. For example, a 61-year-old man with 35 years of contribution can retire. New law
How this affects your retirement:
- Flexibility: The 86/96 formula gives you more flexibility in planning for retirement, allowing you to retire earlier if you have contributed for longer.
- Full benefit: When you reach the necessary score, you are entitled to receive the full retirement benefit, without the application of the social security factor, which could reduce the value of your benefit.
- Planning: The 86/96 formula makes retirement planning easier because it allows you to calculate when you will reach the required score and plan for retirement. New law
Important:
- The 86/96 formula It is a transitional rule created by the 2019 Social Security reform. It has been in force since then, being updated annually, with the addition of one point per year.
- To retire using the 86/96 formula, it is necessary to meet other requirements, such as the minimum contribution period required (30 years for women and 35 years for men). New law
What is the best rule for retiring today?
The best retirement rule for today depends on your individual situation, taking into account your age, contribution time and future expectations. The main retirement rules for 2024 are: New law
Retirement by age:
- Women: 62 years old and 15 years of contributions.
- Men: 65 years old and 15 years of contributions.
Retirement by time of contribution:
- General rule: It no longer exists.
- transition rules:
- 50% toll: Additional contribution time of 50% over the time remaining on 13/11/2019.
- 100% toll: Additional contribution time of 100% over the time remaining on 13/11/2019.
- Progressive minimum age: Minimum age that gradually increases until reaching 62 years for women and 65 years for men, combined with the minimum contribution period of 30 years for women and 35 years for men.
- Formula 86/96: Sum of age and contribution time equal to 86 for women and 96 for men, with a minimum contribution time of 30 years for women and 35 years for men.
Special retirement:
- For activities involving exposure to agents that are harmful to health, with specific rules for each professional category. New law
Rural retirement:
- Women: 57 years old and 15 years of rural activity.
- Men: 60 years old and 15 years of rural activity.
To determine the best rule for you, it is essential to analyze factors such as: New law
- Age: The closer to the minimum age, the more advantageous retirement by age can be.
- Contribution time: If you have a long contribution period, the transition rules may be more advantageous.
- Life expectancy: The longer your life expectancy, the longer you will receive benefits, which can make retirement by age more advantageous.
- benefit amount: Simulate the benefit value in each rule to make the best decision.
Useful Resources:
- INSS Retirement Simulator: https://www.gov.br/pt-br/servicos/simular-aposentadoria
- My INSS Portal: https://meu.inss.gov.br/
Remember that choosing the best policy is a personal and important decision. Consult a pension specialist to analyze your situation and make the most appropriate decision for you.
How can I check the status of my retirement using my CPF?
You can check the status of your retirement using your CPF in several ways: New law
- My INSS: Access the Meu INSS website (meu.inss.gov.br), log in with your Gov.br account and click on “Meus Benefícios”. There you will find information about your benefit requests, including the status of your retirement. The Meu INSS app, available for Android and iOS, has the same features.
- Call Center 135: Call 135 and follow the instructions to check the status of your retirement application. Have your CPF on hand to inform the attendant.
- INSS Agency: Schedule an in-person appointment at an INSS agency to obtain detailed information about the progress of your retirement process.
Who can retire at 55? New law
Retirement at age 55 is feasible for some specific categories of workers, such as those who have worked in conditions that are harmful to their health (special retirement) or women with special insurance (rural workers, artisanal fishermen and indigenous people). In addition, there are proposals being analyzed in Congress to expand access to special retirement at age 55. It is crucial to prove the length of work and exposure to harmful agents, if applicable, and consult a pension specialist to analyze your individual situation. New law
For more information on the amount and minimum contribution period for INSS in 2024, consult the official INSS website or a specialist in social security law.
- INSS, click here.
- social Security, click here.
- CNPC, click here.
- Retirement Simulator – ACCESS HERE the Gov.br Portal
- Do you want to know how long it takes to retire and the transition rules? Click here and check it out!
