Luiz Marinho asked Fiesp for support to put an end to the FGTS anniversary withdrawal, and said that the benefit is a “decoy”.| Photo: Valter Campanato/Agência Brasil

The Minister of Labor and Employment, Luiz Marinho, asked for the support of the Federation of Industries of the State of São Paulo (Fiesp), this Monday (13th), to put an end to the FGTS anniversary withdrawal. The benefit was instituted by law in 2019 and allows the optional withdrawal of part of the account balance.

According to the minister’s speech at a meeting at Fiesp, the fund was set up with the specific purpose of “helping workers in the misfortune of unemployment”, and ended up being distorted with the benefit. “If he keeps serving for several reasons, he loses his raison d’être”, he amended.

“I think the anniversary withdrawal is a hoax, because it disrupts the industry’s logic, it weakens the investment fund,” he said, citing that the fund’s resources are also used for sanitation and housing works. He also stated that he will discuss this matter with the Fundo de Garantia’s Board of Trustees and that he wants “to have the support of the industry there.”