In a new electoral offensive, Caixa Econômica Federal reported this Thursday (25) that there are BRL 24.6 billion in PIS/Pasep quotas that can be withdrawn by 10.6 million people.
Workers entitled to quotas will be notified of forgotten money when accessing the FGTS (Guarantee Fund for Time of Service) application, the bank said.
The money can be withdrawn through the FGTS application for cell phones and tablets. According to Caixa, access to the amounts will be completely online and the main screen of the application will contain information on the balance available for withdrawal.
Anyone who worked with a formal contract in the private sector or acted as a public servant between 1971 and 1988 and who has not yet withdrawn the money from his quota is entitled to the withdrawal. According to the vice president of Caixa’s operating agent, Edilson Carrogi, people under the age of 48 should hardly receive the amount.
“The average value is R$ 2,300, but it will depend on how much the worker worked in the formal market in that period from 1971 to 1988. If it was for just one year, the balance will be lower, if it was for the entire period, the balance it will be higher. It will depend on the salary he had at the time, the working time and corrections”, he said.
According to Carrogi, there is no longer a maximum period for the worker or his heirs to withdraw the money.
“There is no 2025 deadline in force at the time because provisional measure 946 was not converted into law. So, the 2025 deadline, according to the opinion of the Attorney General’s Office of the National Treasury, did not persist. It is not a perfect legal act because that deadline had not yet arrived when the MP lost its effectiveness”, he detailed.
In 2020, the PIS/Pasep quotas migrated to the FGTS (Fundo de Garantia do Tempo de Serviço).
How the PIS/Pasep quota will be withdrawn
- Download or update the FGTS app
- Enter CPF and password, and click on the requested images; then go to “Login”
- On the home screen, the message “You have available cashout” will appear.
- Then go to “Request PIS/Pasep withdrawal”
- Choose whether you want to credit your account or make the withdrawal in person
- Then check your data; if everything is ok, select “Confirm Withdrawal”
- It is possible to indicate an account in any bank to receive the amounts
How to cash out in person
The in-person withdrawal can be done with a social card, such as the Citizen Card, for example. In this case, the withdrawal of amounts is limited to R$ 3,000 and can be done at lottery or ATMs.
The heirs of the worker entitled to the quota can also have access to the money, but they need to access the FGTS app and make the withdrawal request, in the “Meus Saques” option. Choose “Other Withdrawal Situations” and then indicate “PIS/PASEP – Death of the Worker”. You will need to send documents.
Who is entitled to the PIS/Pasep quota
- Workers and their heirs who had a formal contract between 1971 and October 4, 1988 and have not yet withdrawn the amounts
- Civil servants and their heirs who worked in the public sector between 1971 and 1988 and have not yet withdrawn the amounts
- At that time, companies deposited workers’ PIS/Pasep credits in an account linked to a fund linked to the two programs
According to Caixa, by law, all participants registered in the PIS/Pasep fund who have a balance of quotas are entitled to withdraw. In the case of workers who have already died, the balance will be paid to their legal dependents.
Documents needed to make the withdrawal
The account holder must present the identification document. For citizens who are going to redeem the money because they are heirs of the worker or servant who died, it is necessary to present one of the following documents if they go in person to the agencies:
- Heir identification document
- Identification document of the shareholder who has died
- Proof of registration in PIS or Pasep
- Certificate or declaration of dependent eligible for INSS death pension
- Certificate provided by the public body, in the case of a public servant
- Court order designating the successor or legal representative
- Formal of sharing or public deed of inventory and sharing
Caixa informed this Thursday that, for heirs who wanted to redeem via the FGTS application, it is necessary to present:
- Heir identification document
- Selfie
- PIS/Pasep/FGTS certificate issued by Social Security with the list of dependents entitled to a pension for death or declaration of dependents entitled to a pension issued by the benefit paying agency
Understand the difference between PIS/Pasep quota and salary 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.
Then, the Constitution changed the rules and the money went to the FAT (Worker Support Fund), which pays unemployment insurance. In 2020, the rule changed and the values migrated to the 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 for the year of withdrawal.
Values were released in 2018
In June 2018, the government of Michel Temer released R$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 worker in the private sector, and at Banco do Brasil, in the case of civil servants.
See the rules for receiving the PIS/Pasep salary bonus
The worker who:
- Has been registered for at least five years with PIS/Pasep
- Received average remuneration of up to two minimum wages in the base year
- Worked with a formal contract for at least 30 days in the base year
- Have your data correctly informed by the employer in Rais (Annual Social Information Report)
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