Workers expect to launch the new round of emergency withdrawal from FGTS (Guarantee Time of Service) in 2021. An emergency withdrawal of workers was issued in 2020 as a measure to contain the effects of the pandemic.
In last year’s emergency withdrawal from FGTS, all workers with available account balance were able to withdraw up to one minimum wage. This represents support for more than sixty million Brazilians who were able to transfer R $ 37 billion into the economy in 2020.
The measure that contributed 60 million workers is also expected for this year, bearing in mind that the federal government at the end of last year was already interested in releasing the loot this year.
In addition, the federal government has put together a contingency plan for the country’s potential second wave of the pandemic, which has already occurred. The plan included a series of measures ranging from measures that do not have a financial impact to measures that could have a significant financial impact on the public treasury, such as emergency aid.
But will there be an emergency withdrawal after all?
At the end of 2020, members of the Ministry of Citizenship announced that they would establish a pandemic scenario in the country in the early days of the year to enable the release of emergency looting in 2021.
However, since then, the government has seen little political action regarding the emergency withdrawal of the Guarantee Fund. So, since the start of the year, the procedure has actually been discontinued, without any confirmation or rejection of a new version.
Government members have also reported that there is a reserve balance that will not affect the release of a new round of withdrawals this year, however, the FGTS Board of Trustees is specifically concerned about preserving the fund’s sustainability.
Since the FGTS, while being kept in fund accounts, pending withdrawal of workers in a possible case of unfair dismissal, it can be used by the government to finance business in various sectors, such as housing, sanitation, etc.
Additionally, upon questioning Caixa Econômica Federal, responsible for relocating FGTS to workers, the bank reported that there was no information regarding withdrawal this year.
With analyzes of FGTS commitment plus a little political expression regarding the issuance of emergency withdrawals in 2021, workers may end up negatively surprised by the possibility of suspending the measure this year.
However, just as there was no confirmation, there was also no denial by the government regarding the measure. Thus, the best option for the worker is the absence of uncertain values to avoid negative surprises related to the financial life of the citizen.