The Service Time Guarantee Fund (FGTS), one of the most important rights of Brazilian workers, is in the spotlight after the announcement of new proposals by the Minister of Labor, Luiz Marinho. These changes aim to adjust critical aspects of the fund, directly influencing workers and the country’s economy.
What could change with the new FGTS proposals?
The main changes include the possibility of elimination of birthday withdrawal and the permission to use FGTS as collateral for payroll loans. These proposals have caused debate among experts and the population, given the significant impact they can have on both the immediate liquidity available to workers and their credit options.
Why Can the FGTS Birthday Withdrawal Be Eliminated?
Introduced in 2020 during Jair Bolsonaro’s government, the birthday withdrawal allowed workers to access part of their funds annually in the month of their birthday. However, criticism arose due to the limitations it imposes in cases of dismissal. According to Minister Marinho, eliminating this option could protect workers’ financial reserves, allowing them to access their full funds in emergency situations or after the end of their employment contract.
How can FGTS be used in payroll loans?
The other major change proposed is the use of FGTS as collateral for payroll loans. This innovation would allow the fund’s values to secure personal loans, with rates likely to be lower due to the additional security the fund offers. Using the FGTS to guarantee loans could facilitate access to credit, especially for workers in private companies and domestic employees.
How will the new changes be managed?
The reforms will be administered through the FGTS Digital platform, which aims to simplify interaction between banks, workers and employers. This system aims to offer better credit rates and more efficient management of FGTS resources. However, for these changes to come into force, they still require approval by the National Congress, which adds a layer of uncertainty regarding their deadline and implementation.
What is the Future of the FGTS with These Proposals?
The reformulation of the FGTS proposed by the Ministry of Labor could fundamentally transform the way workers interact with their guaranteed funds. While these changes promise to simplify and enhance the use of the FGTS, they also raise important questions about workers’ financial security and their ability to face financial emergencies. The final decision, however, will depend on the progress of these proposals in Congress.
- Elimination of the birthday withdrawal: increased financial security for workers.
- Use of FGTS as a guarantee for payroll loans: greater accessibility to credit with lower interest rates.
- FGTS Digital: platform for efficient management of FGTS interactions and transactions.
Tags: advantage FGTS Advantages Birthday Withdrawals Facilitated Payroll Loans
