What is the INSS ceiling (teto)?

The INSS only pays benefits up to a maximum amount called the teto, around R$7,786 a month in 2024 and indexed each year. Salary above the ceiling does not increase your state pension, which is why higher earners rely on private PGBL or VGBL plans to top up.

What is the difference between PGBL and VGBL?

Both are private pension wrappers. PGBL lets you deduct contributions from taxable income (up to 12% of gross) but taxes the whole withdrawal, while VGBL is not deductible but taxes only the gains. This tool models the accumulated pot the same way and applies a 4% safe-withdrawal estimate.

Does this account for the minimum contribution time?

Yes. If your total contribution time falls short of the minimum (20 years for men, 15 for women) the tool shows no full INSS benefit, since you would not yet qualify for the standard age-based retirement under the reform.

Is this an exact pension forecast?

No, it is an estimate. The real INSS benefit uses indexed historical salaries, special rules for teachers and rural workers, and a minimum-wage floor. Treat the result as a planning guide and confirm with the INSS or an actuary.

Brazil Pension & Retirement Calculator

Q: How is the INSS pension calculated in Brazil?

Since the 2019 reform (EC 103) the benefit is based on the average of every contribution salary since July 1994. The base rate is 60% of that average for the minimum contribution time (20 years for men, 15 for women), rising 2 percentage points for each additional year of contribution, up to 100%.

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This Brazil pension and retirement calculator estimates your monthly income at retirement by combining the INSS state pension (Previdência Social) with any private PGBL or VGBL savings. It uses the rules introduced by the 2019 pension reform so the state-benefit figure reflects how Brazil actually calculates aposentadoria today.

How it works

The INSS benefit is built from the average of your contribution salaries. Under the post-reform formula the base rate is 60% of that average for the minimum contribution time — 20 years for men, 15 for women — and rises by 2 percentage points for every additional year of contribution, capped at 100%.

The average is capped at the INSS ceiling (teto), so the formula is roughly:

inssMonthly = min(averageSalary, teto) × rate
rate = min(100%, 60% + 2% × (totalYears − minimumYears))

The result is then bounded between the minimum wage and the teto.

For private pensions, the tool grows your current PGBL/VGBL pot by your monthly contributions and expected return until retirement, then applies a 4% safe-withdrawal estimate to turn the pot into monthly income.

Example

A man aged 40 planning to retire at 65, with 18 years already contributed, reaches 43 total years of contribution — that is 23 years beyond the 20-year minimum, so the rate hits the 100% cap. If his capped average salary is R$4,000, the INSS benefit is about R$4,000 a month, topped up by whatever his PGBL pot can sustain.

Notes

This is an estimate. The real INSS calculation indexes each historical salary, has special rules for certain professions, and enforces a minimum-wage floor. Use the figure for planning and confirm your exact entitlement with the INSS.