Minister stated that the withdrawal is not part of the purpose of the fund and will work to end the modality
The Minister of Labour, Luiz Marinhoonce again criticized the FGTS (Fundo de Garantia do Tempo de Serviço) birthday withdrawal modality and said that it should work for “to finish” with modality.
Marinho already made a similar statement on January 4 about the anniversary withdrawal, but later went back and said that he should promote a “Broad Discussion” about the modality.
In an interview with the newspaper Folha de S. Paulo released this Thursday (19.jan.2023), the minister said that he was not contradictory in his previous speeches and guaranteed that discussion on the subject will be taken to the Board of Trustees of the Fund in March.
The benefit allows the worker to withdraw up to 50% of the amount available in the fund, according to the available balance in the account. According to Caixa Econômica Federal, 28.6 million workers resort to this modality. In all, they withdraw, on average, R$ 12 billion per year.
According to Marinho, the birthday withdrawal does not fulfill the two main purposes of the FGTS: investment in housing and protection for workers in the event of dismissal.
“The anniversary withdrawal deflates, weakens the fund, and creates trauma. Workers call me, send messages, saying: ‘look, stop this birthday withdrawal, because I got into this decoy’. Whoever is fired cannot withdraw the balance. It leaves the worker on the street of bitterness at the moment when he needs it most. It’s optional, but it’s wrong.”argued the minister.
Through this modality, banks began to offer loans that advance the payment of the benefit to customers. The amount is deducted from future FGTS installments, which would fall into the account in the withdrawal month.
Asked about the impact of the end of the anniversary withdrawal on banks, Marinho stated: “It’s the banks’ problem, not my problem. No one asked to borrow”.
“I’m worried about the workers, not the banks. Evidently we will need to increase the existing volume. We are not going to make a measure that creates an eventual trauma in the economy. It is in this sense that I tell the banks not to worry. Now, most likely banks can find a way to ride the wave.”completed.
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