Caixa releases BRL 25.4 billion in PIS/Pasep quotas – 06/07/2023 – Market

Caixa Econômica Federal released R$ 25.4 billion in PIS/Pasep quotas that can be withdrawn by 10.5 million workers. The money will be available until August 5, through the FGTS (Service Time Guarantee Fund) application.

Anyone who worked with a formal contract in the private sector or was a public servant between 1971 and 1988 and who has not withdrawn the money from their quota is entitled to the PIS/Pasep quota. The amounts are also paid to the heirs.

Payment will be made entirely online, so it is not necessary to compare with a Caixa branch. According to the bank, the deadline of August 5 was established to comply with the public notice issued by the Ministry of Labor and Employment. If the withdrawal is not carried out within the period, the money will go to the National Treasury. However, there is a period of up to five years to apply for the amount.

The procedures for requesting reimbursement will be published in a joint decree issued by the Ministry of Labor and Employment, the Ministry of Finance and the Ministry of Planning and Budget.

How to query and withdraw values

• Open or download the FGTS application (for the first access, you need to create a password)
• Click “Enter Application”
• The phrase “FGTS would like to use Caixa.gov.br to log in” will appear; go to “Continue”
• Enter your CPF and click “Next”
• Enter your password and go to “Login”; If you don’t remember, click on “Recover password”
• On the home screen, information regarding the balance available for withdrawal from the PIS/Pasep quota will appear.
• Click on the message “You have withdrawal available” and then go to “Request PIS/PASEP withdrawal”
• The worker must choose the form of withdrawal, whether account credit or in person, verify their data and select “Confirm withdrawal”
• The balance may be credited to the bank account of any institution indicated by the worker, at no cost.

See how heirs are entitled to the PIS/Pasep quota:

• In the case of an heir, the beneficiary must access their own FGTS application and request the withdrawal in the “My Withdrawals” option
• Click on “Other Withdrawal Situations” and then choose the option “PIS/PASEP – Worker’s Death”
• In this case, it is necessary to present documents

Documents:

The account holder must present the identification document. For citizens who are going to redeem the money because they are the heirs of the worker or civil servant who died, you must present one of the following documents if you go to the agencies in person:

• Heir’s identification document
• Identification document of the shareholder who has already died
• Proof of enrollment in PIS or Pasep
• Certificate or statement of dependent entitled to INSS death pension
• Certificate provided by the public body, in the case of a civil servant
• Judicial license designating the successor or legal representative
• Formal sharing or public deed of inventory and sharing

Difference between PIS quota and PIS/Pasep salary bonus

The quota is different from the PIS/Pasep salary allowance. Until 1988, companies made individual deposits in the PIS/Pasep fund; therefore, only workers between 1971 and 1988 are entitled.

Afterwards, the Constitution changed the rules and the money came to be from the FAT (Fundo de Amparo ao Trabalhador), which pays unemployment insurance. In 2020, the rule changed and the amounts migrated to FGTS.

The salary bonus is an amount paid annually to those who, in the base year, worked with a formal contract earning up to two minimum wages, on average. The value of the PIS/Pasep allowance is proportional to the months of work, limited to the minimum wage in the withdrawal year.

Values ​​began to be released in 2018

In June 2018, Michel Temer’s government released BRL 39 billion of PIS/Pasep Fund quotas to workers or their heirs who had not yet withdrawn the amounts. The money was released in batches, paid between June and September.

At the time, the redemption was still made at Caixa, for those who had a formal contract as a private initiative worker, and at Banco do Brasil, in the case of civil servants.

Since the PIS/Pasep quotas were administered by the FGTS in 2020, Caixa has already made 481 thousand payments, totaling R$ 701 million.