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Changes to the FGTS birthday withdrawal are on the horizon. Learn about the changes and understand their impact. Stay informed now!
The end of October sparked a significant dialogue at the Federal Supreme Court (STF), led by Luís Roberto Barroso.
The agenda for discussion on November 8 concerns the monetary adjustment of the FGTS (Service Time Guarantee Fund) birthday withdrawal. Last week, the government postponed this discussion.
Read also:Find out how to unlock FGTS: essential tips!
This decision was made due to several concerns related to the matter, which the president of the Supreme Court received from the Minister of Finance, Fernando Haddad, and the Attorney General of the Union (AGU), Jorge Messias, at a meeting on October 22.
Changes to the FGTS birthday withdrawal
The AGU believes that, if the perspective proposed by Barroso is consolidated, the impact could reach a surprising amount of R$ 8.6 billion. Barroso, responsible for this case, argued in April that FGTS adjustments cannot be lower than those of savings accounts.
He also argued that the final decision should only have an impact in the future, which could reduce the damage to the national treasury.
With a more detailed view, the AGU projects an impact of up to R$ 295 billion on public coffers if the STF decides to compensate the amounts adjusted since 1999. Minister André Mendonça also agrees with this analysis. On the other hand, Minister Kássio Nunes Marques decided to pause the trial after requesting more time for analysis.
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What is driving the request to adjust the TR?
Today, the FGTS is adjusted by the Referential Rate (TR) plus 3%. Solidariedade, the party that filed the lawsuit, argues that since 1999, this index has not effectively restored employees' purchasing power.
Therefore, the party proposes replacing the TR with an inflation-linked index, such as the Broad National Consumer Price Index (IPCA).
