Until December 31, 2023, you can withdraw the value of an IAS from your PPR monthly without penalties. Given the rising cost of living, this support can be invaluable.
If you need to redeem your Retirement Savings Plan (PPR), Education Savings Plan (PPE) and Retirement/Education Savings Plans (PPR/E) to cope with the increase in the cost of living and the rise in mortgage loan installments, you can do it without penalties until December 31, 2023🇧🇷
According to the Law No. 19/2022, of October 21, which defines a set of State support to help families deal with rising inflation, the monthly limit you can redeem corresponds to the value of the Social Support Index (IAS). Remember that the value of the IAS in 2022 is 443.20 euros and, in 2023, 478.70 euros.
This means that, if you decide to redeem your PPR only in 2023, you will be able to redeem a total of 5,774.40 euros (12 x 478.70 euros), without any penalty.
It should be remembered that, before the entry into force of Law nº 19/2022, the legislation already provided for a set of situations that made it possible to redeem the PPR in advance, without any penalty. This is what happens, for example, in case of illness, if you are unemployed for a long time or if use the PPR to pay the mortgage loan installment🇧🇷 Find out under what conditions in this article:
As Law no. 19/2022 states that this measure comes into force “without prejudice to the provisions of numbers 1 to 4 of article 4 of Decree-Law no. 158/2002”, our understanding is that both situations can be accumulated. Take this information into account to manage your monthly budget.