July 23, 2024

A worker may receive up to R$10,000 with an FGTS review

2 min read
A worker may receive up to R$10,000 with an FGTS review
A worker may receive up to R$10,000 with an FGTS review

Workers with a formal contract are entitled to a Work Compensation Fund (FGTS), and workers who have been formally employed since 1999 may be entitled to a wage of up to R$10,000. However, it will depend on the working time recorded in the wallet. The review also takes into account the amount of your salary and the time when the balance is available in the accounts linked to the FGTS. An employee who has already withdrawn the entire balance from the fund may also request a review. However, it is necessary to find out whether it is worth asking for a review of the guarantee fund.

For the review to be worthwhile, it is necessary that the person worked for many years in the same company, and with a significantly high salary. For those who change jobs often or have low wages, a review will not be helpful.

FGTS review

Many people hear about the FGTS review but don’t know what it means. In fact, the revision requires replacing the indicator that adjusts the balance of the guarantee fund with another that can compensate for losses caused by high inflation.

Currently, the FGTS balance is corrected by Reference rate (TR) which has been discontinued since 1999, causing a huge loss to workers.

One goal is to change the TR by INPC (National Consumer Price Index) or another change that can cover inflation.

Workers’ hope is a positive decision of the STF (Federal Supreme Court) which should rule on the matter soon, changing the monetary correction index in favor of those who have money or have accounts linked to the Separation Compensation Fund (FGTS).

Experts believe that the decision in favor of the worker may exceed the value of 300 billion Brazilian reais. What can help a factor whose balance has fallen by adopting the reference rate (TR) to make the monetary correction, and recover the inflationary losses recorded between 1999 through 2021.

This can guarantee the worker you like to review to receive R$10,000, even for those who have already withdrawn the entire balance. The value can be estimated through the LOIT of the startup (taking into account that the balance of the FGTS, the time worked and the salary received, which overlap the monthly amounts in the calculation.

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