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Labor Law

 

Caixa Econômica Federal uses the Reference Rate (TR) as an index to correct the Severance Indemnity Fund (FGTS).

 

However, few people know that the TR, created in the early 1990s, has not followed inflation since 1999, due to the edition of CMN resolution 2,604/99, starting to lag to the point that in 2013 it was set at 0 .1910%, while the INPC (National Consumer Price Index)  and the IPCA (Broad Consumer Price Index) were, respectively, from 5 .56% and 5.84%. 

 

This fact culminated in the tiny correction of the amounts deposited in the FGTS compared to inflationary rates, translating into the absence of correct updating of the amounts deposited in the land account created to guarantee the worker monetary assistance in case of dismissal without just cause or any of the hypotheses established in art.  20 of Law No. 8.036/90. That is, the amounts contained in the FGTS accounts ended up being remunerated only by annual interest of 3% (three percent), not even enough to replace the purchasing power lost by accumulated inflation.

As an example, the worker who had R$ 20,000.00 invested in the FGTS would have, in 2013, just over R$ 26,920.00, with the update by the TR. If it were updated by the INPC, the amount would have almost doubled, reaching just over R$ 50,280.00. 87% higher value.

 

Therefore, ALL workers who have had amounts deposited in the FGTS since 1999 must judicially seek the application of the INPC or IPCA to correct the amounts contained in this period, even if the FGTS has already been withdrawn.

 

The required documents are:

 

1.Copy of the work card (page where the PIS number is)
2. FGTS extract from 1999 provided by Caixa Econômica Federal - schedule the withdrawal at any branch by no. 0800 72 60 207_cc781905-5cf58d-cf33
3.Copy of identity card
4. Copy of CPF
5. Proof of residency

 

Review of the amount deposited in the FGTS; Application of an index that better maintains the worker's purchasing power.
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