Calculating Retirement. Learn how to do it

Learn how to do it Retirement Calculation, which is determined mainly by two criteria, age and contribution time.

Therefore, through Government Applications It is possible to simulate retirement time, contributions, processes, benefits, among others.

However, it’s not always easy to understand the calculations, so we’re here to help you.

Check the criteria below and learn how to do it Retirement Calculation  without complications.

Calculation of Retirement by Age

For Men

In Brazil, retirement age for men requires a minimum of 65 years of age, a minimum contribution period of 15 years and 180 months of qualifying period.

The formula of Retirement Calculation It is based on the points system, which adds age to the contribution time.

Therefore, to retire by age, a man must reach 95 points, adding his age and contribution time.

THE Retirement Calculation by age is calculated based on the average salary value, meaning that the minimum amount to be paid to the retiree is one minimum wage according to the current year.

This amount may be higher depending on the percentage of the worker's contribution over the years.

For Women

For women, the requirement is 60 years of age, a minimum contribution period of 15 years and 180 months of qualifying period.

Therefore, the formula of Retirement Calculation by age is similar to that of men.

In this way, it is necessary to reach 85 points, adding the age and contribution time.

In other words, the calculation basis is the same as that used for men and the minimum amount to be received for retirement is also a minimum wage, which may change depending on the contribution.

Retirement by Length of Contribution

Retirement based on length of contribution provided for women who reached 30 and men who reached 35 years of contribution, regardless of age, to be entitled to apply for retirement benefits.

However, after the pension reform, this modality was eliminated, making the modality only possible for insured persons linked to the General Social Security Regime (RGPS).

In other words, insured individuals who already met the pre-established requirements before the reform.

However, today there are other modalities that can help, such as, for example, Retirement for Low-Income People.

Previously, this modality was intended to help people with needy families who needed to start working earlier to retire.

Retirement Calculation: Learn How Fto use the Toll System

The toll system is an option that allows workers who are close to retirement due to contribution time to benefit from transitional rules.

In other words, it applies to workers who were just a few years away from meeting the requirements for retirement based on length of service when the reform took place.

How to calculate retirement for men

If a worker was close to reaching the minimum time required by previous legislation, he could opt for the toll.

The general rule stipulates a toll of 50% of the time remaining to reach the necessary contribution time before the reform.

For example, João had 32 years of contributions and was three years away from reaching the minimum time required, he will have to pay a toll corresponding to 50% for that period, that is, 1.5 additional years of contributions.

Therefore, in the example given, to retire, he will need to contribute for another 1.5 years, totaling 33.5 years of contribution.

How to calculate retirement for women

For female workers, the toll system applies in a similar way to the one mentioned above.

In this way, as for men, the rule establishes a toll of 50% of the time remaining to reach the contribution time before the reform.

Therefore, if a woman had 28 years of contributions and was two years away from reaching the minimum time required, she will have to pay a toll corresponding to 50% for that period, that is, an additional year of contribution.

Therefore, in a practical example for calculating retirement: She will need to contribute for 1 more year, totaling 29 years of contribution to retire.

But it is important to highlight that the toll system serves as a transition rule for those who were close to meeting the requirements for retirement based on contribution time before the reform.

However, it is essential to check the specific rules, as there may be variations and particularities depending on each case.

How to Download the App and Calculate Your Retirement

The Federal Government offers the application “My INSS“, which allows taxpayers to access information about their retirement.

Follow the step-by-step instructions and download the app right now to access and see how to calculate your retirement, how to do it:

• Access your mobile phone's app store to Android or iOS
• Search for “Meu INSS”;
• Download it;
• After registering, you will need to enter your details and create a password.
• You can also access it through your GOV.br account if you already have one.

Conclusion

Calculating retirement benefits is a complex process that varies depending on the type and gender.

Therefore, it is essential to understand the specific requirements for each case and closely monitor the contribution time, salary amounts and necessary documentation.

Therefore, using the “Meu INSS” app makes it very easy to make inquiries and even apply for retirement. Therefore, it is important to monitor the process closely to ensure that everything is in accordance with the requirements.