The review of the FGTS (Fundo de Garantia do Tempo de Employee) attracts the attention of Brazilian workers who have performed activities with formal contract in the post-1999 period until today.
The FGTS revision asks to replace the TR (Reference Rate), which calculates the fund’s returns, with an index that tracks inflation. TR has been zero for several years, which made the money in FGTS accounts not pay off.
The Federal Supreme Court (STF) has postponed the FGTS review ruling and has not set a new date, raising expectations even more.
The STF has already made it clear that TR is unconstitutional, as it “does not constitute an indicator that reflects the variance in the purchasing power of a currency”. Remember that Caixa Econômica Federal is the defendant in these proceedings.
For workers, it would be better to replace the TR with the National Consumer Price Index (INPC) which measures inflation in a country. But it is up to the Supreme Council to decide which index will be used to adjust the fund.
Ministers placed and removed from the agenda, in May of this year, Direct Action for Unconstitutionality (ADIN) Ruling No. 5090, which challenges the use of the TR (Reference Rate) as an indicator that corrects the FGTS balance. Everything indicates that this year there will be no more opportunity for the STF to put the topic on the agenda.
Whose review is useful?
A worker who has undertaken any activity with a formal contract sometime after 1999 will be able to request FGTS review. The review is interesting for those people who have spent a long time in the same company and a higher salary.
However, the review will not be useful to those who changed jobs often and had a lower salary.
The review is also valid for persons who have already withdrawn the entire balance of the Employment Compensation Fund (FGTS).
According to Startup LOIT, which provides a free account service, the average value of reviews is about R$10,000 per person.
But the worker should be aware, this value can vary up or down depending on the time the money was deposited into the fund, and of course the amount deposited.
To make the calculation, you will need the statement that can be requested in the Caixa FGTS application.
For those who are lawyers and want a review account for their client, know that there is an ELI FGTS service available at http://fgts.elibot.com.br.
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