INSS is an acronym that means National Institute of Social Security. It is a body directly linked to the government and is responsible for paying the benefits of Brazilian workers who contribute to insurance that guarantees a retirement when they stop working, with the exception of public servants.
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What is the INSS?
The National Institute of Social Security (INSS) is an extremely common body for Brazilians, especially when it comes to payroll of companies, pensions, collection of MEIs and in many other places that have a direct connection with the Institute.
The INSS is conceptualized as a public agency, as it is linked to the government, being responsible for paying benefits to workers. Brazilians (retirement, unemployment insurance, sickness benefit, etc.) and other insured persons, such as individual taxpayers and micro-entrepreneurs individual.
How it works?
The INSS works based on the monthly contribution of workers and other insured persons. That is, every month, all insured persons must contribute an amount to the INSS, which will guarantee their right to the benefits offered by it. This value is stipulated according to the salary of each professional.
Importance of INSS
The payment of the INSS is of paramount importance for all workers, since it is only possible to enjoy the benefits offered by it if the installments are paid monthly.
When the individual pays the INSS installments on time, he will be prepared for unforeseen events, as he will be protected by social security and will be entitled to all its benefits. As an example, we have the payment of sick pay, in case the worker needs to leave the service for health reasons.
Finally, it is necessary to mention the receipt of a monthly benefit during retirement, which is one of the main benefits offered by this institute, since it has great importance in the lives of many people, as it is a way to guarantee an income when they are no longer working.
