INSS: See how much retirees can receive in 2023

On July 12, Congress approved the so-called Budgetary Guidance Law (LDO), setting the minimum wage for 2023, as well as the minimum wage for pensions, at 1.294 reais. However, taking into account the increase in inflation, this value is outdated and could reach 1.302 reais.

The change in projections is related to recent inflation estimates released by the Ministry of Economy. Among them, this year's National Consumer Price Index (INPC) was recalculated and rose to 7,41%. Before that, the percentage was 6,7% in the government's initial projection to Congress.

The value of INSS retirement in 2022

With inflation rising, the minimum wage in 2023 could reach 1.302 reais. The corrections affect not only the lives of workers, but also those covered by the INSS. Here are the new retirement projections for next year:

Benefit Value 2022 (Brazilian Real)
How much can you earn in 2023 (in reais)

1.212
1.302

1.300
1.396

1.400
1.504

1.500
1.611

1.600
1.719

1.700
1.826

1.800
1.933

1.900
2.041

2.000
2.148

2.100
2.256

2.200
2.363

2.300
2.470

2.400
2.578

2.500
2.685

2.600
2.793

2.700
2.900

2.800
3.007

2.900
3.115

3.000
3.222

3.100
3.330

3.200
3.437

3.300
3.545

3.400
3.652

3.500
3.759

3.600
3.867

3.700
3.974

3.800
4.082

3.900
4.189

4.000
4.296

4.100
4.404

4.200
4.511

4.300
4.619

4.400
4.726

4.500
4.833

4.600
4.941

4.700
5.048

4.800
5.156

4.900
5.263

5.000
5.371

5.100
5.478

5.200
5.585

5.300
5.693

5.400
5.800

5.500
5.908

5.600
6.015

5.700
6.122

5.800
6.230

5.900
6.337

6.000
6.445

6.100
6.552

6.200
6.659

6.300
6.767

6.400
6.874

6.500
6.982

6.600
7.089

6.700
7.196

6.800
7.304

6.900
7.411

7.000
7.519

7.087,22
7.612,38

When will the new values ​​come into effect?

Even with the new forecasts being announced by the government, the value of the 2023 minimum wage will only be released at the beginning of January 2023. This is because it is at this time that the Brazilian Institute of Geography and Statistics (IBGE) will release the accumulated inflation for the year 2022.

Currently, according to analysts, the inflation rate is in double digits, with a forecast of falling in the coming months. The reason is related to the implementation of the Tax on Circulation of Goods and Services (ICMS) ceiling, which limited the collection of taxes on fuel and other items considered essential.

On the other hand, with increases in international fuel prices, the forecast is that the respite from inflation will only be temporary.