‘Forgotten’ PIS/Pasep funds will be transferred to the Treasury by August 20; workers have up to 5 years to redeem

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PEC of the Transition authorized the transfer of resources to public coffers, for use with investments, outside the spending limit. According to the government, 10 million workers have R$ 24.6 billion in resources not redeemed from the program. The Board of Trustees of the Severance Indemnity Fund (CCFGTS) approved this Tuesday (20), in a meeting held in Brasília, that the resources forgotten in PIS/Pasep quotas by workers be transferred to the National Treasury, until August of that year. Even after the transfer, however, workers will still have five years to redeem the values ​​(see below how to do it). An article in the proposed amendment to the Constitution (PEC) of the Transition authorized the government to use the money forgotten by workers in PIS/Pasep quotas without this expense being accounted for in the spending ceiling. According to Caixa Econômica, about R$ 24.6 billion in program quotas are available for more than 10 million people. This money can be used by the government for investments, according to the wording of the Transition PEC. The average value of these resources, according to Caixa, is R$ 2,300 – but it depends on the period worked and the salary received at the time. PIS-Pasep quotas: see how to consult and withdraw through the FGTS application According to the Transition PEC, the resources of workers who have not been claimed for a period exceeding 20 years will be closed after a period of 60 days from its publication. “After the transfer of resources to the Treasury, the FGTS and the MTE [Ministério do Trabalho] will not participate in the management of the resources and the beneficiaries will still have 5 years to claim the resources. After a period of 5 years, it will be forfeited”, informed the FGTS Council. Understand PIS is a monthly contribution paid by companies in the private sector to a fund intended for employees. Pasep follows the same logic, but is intended for civil servants. Before 2019, the amounts could only be released in specific cases such as retirement and serious illnesses. In 2019, the federal government authorized the full withdrawal of PIS and Pasep quotas for those who worked with a formal contract between 1971 and 1988, in the private sector and in the public sector. The simplest way to withdraw this money forgotten in the accounts is through the FGTS application on the cell phone. If there are resources, a message will appear at the top of the screen: “You have withdrawal available.” Then, the worker must click on request PIS/Pasep withdrawal and choose: account credit or in person. The amount can be credited at any bank indicated by the worker, free of charge. To receive the amount in cash, the withdrawal can be made with the Card Citizens up to R$3,000 at lottery outlets or Caixa self-service terminals. Values ​​can also be requested in person at Caixa branches.

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