PIS/Pasep: quota not withdrawn will return to the government – 06/20/2023 – Market

PIS/Pasep quotas that are not withdrawn by workers by August 5th will be allocated to the National Treasury, as determined in December 2022, in Constitutional Amendment 126, derived from the PEC (Proposed Amendment to the Constitution) of the Transition.

The subject was discussed this Tuesday (20), at the first meeting of 2023 of the Board of Trustees of the FGTS (Fundo de Garantia do Tempo de Serviço), in which the directors decided, among other matters, to raise the ceiling of Minha Casa Minha Vida to BRL 350 thousand.

The return of quotas was the subject of a report at the meeting. There was no deliberation on the matter, which is already regulated by law.

The quota is different from the PIS/Pasep salary bonus, paid monthly to workers who fit the rules. 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who worked with a formal contract in the private sector or was a public servant between 1971 and 1988 and who has not withdrawn the money is entitled to the PIS/Pasep quota. The amounts are also paid to the heirs.

The money was made available by Caixa Econômica Federal —which manages the quotas— on June 7. In all, 10.5 million workers are entitled to withdraw an amount of R$ 25.4 billion until August 5th. 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. Transfers to the Treasury must be made by August 20, as per the information provided at the Board of Trustees meeting. There is, however, a period of up to five years to claim the amount back.

The procedures for requesting reimbursement will be disclosed in a joint ordinance of the Ministry of Labor and Employment, the Ministry of Finance and the Ministry of Planning and Budget to be published. There is no date for publication of the ordinance.

The withdrawal of quotas is completely online, through the FGTS application, without having to go to a Caixa branch. The query to find out if you are entitled is also done in the app. Heirs will be able to withdraw the values, but they will have to present documents that prove the right to receive the quota.

HOW TO CONSULT 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 CAN WITHDRAW THE PIS/PASEP QUOTE:

• 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

WHAT IS THE DIFFERENCE BETWEEN PIS/PASEP QUOTE AND WAGE ALLOWANCE?

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.

Later, the Constitution changed the rules and the money came 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. In addition, the worker needs to be registered with the PIS/Pasep for at least five years.

In June, Caixa, responsible for the PIS allowance, and Banco do Brasil, which pays the Pasep allowance, released the penultimate batch in a total amount of R$ 4.4 billion for 4.3 million beneficiaries. Click here to see the calendar and who gets it.