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“Review of a lifetime”: understand what it is and who can review the value of retirement

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“Review of a lifetime”: understand what it is and who can review the value of retirement

After almost eight months of suspended judgment, the Federal Supreme Court (STF) formed a majority this Thursday and decided in favor of retirees in the process known as “lifelong review”.

The measure gives some retirees from the National Institute of Social Security (INSS) the right to recalculate the value of their benefits, considering contributions prior to 1994, and start earning more.

What is it and who is entitled

The “whole life review” asks part of retirees to have the right to include contributions paid to the INSS before 1994, when the Real Plan began, in the calculation of the amount of their benefit.

The process is valid only for those who retired after 1999, when a social security reform changed the rules and established the 1994 cutoff for calculating benefits.

“It is valid for those who retired by law 9,876 [de 1999]”, explains social security lawyer João Badari, a partner at the Aith, Badari e Luchin office. Badari. “It does not apply to those who retired before 1999, and after the Social Security reform [de 2019]because then the new rules apply.”

Not worth it for everyone

According to experts, requesting a review is an option that only pays for those who received higher wages before 1994, which increases the amount of retirement that the worker is entitled to receive.

For those who received less, the action is not worth it, and the pension currently received is already higher than with the inclusion of the older amounts.

need for action

With the final approval now given by the STF, the review and refund of amounts is not automatic. Those who have legal action asking for a change in the calculation are entitled to it.

Once the review is approved, the INSS must not only correct and increase the monthly amount paid to the beneficiary, but must also retroactively pay the difference for all past months in which the retiree received less.

In this case, the amount to be refunded goes back up to a maximum of five years before the action opening date, explains Badari.

Source: CNN Brasil

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