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How the FGTS review works

After all, what is the FGTS? The FGTS is the best known name for “Fundo de Garantia do Tempo de Serviço”. And what is it for? The FGTS is a deposit equivalent to 8% of the employee’s salary, deposited at the beginning of each month by the boss at Caixa Econômica Federal. A kind of savings account compulsorily paid by the boss.

The Referential Rate (TR) since 1999 has not been able to keep up with the current inflation in the country, and consequently, the FGTS, instead of yielding, ends up having the opposite effect: savings end up being absorbed by inflation itself.

What this article covers:

Who can request the review?

All workers who have a formal contract can request a review of the FGTS. The amounts received by the worker vary from case to case, but the average amount is around R$ 10,000 per person.

What is the FGTS review?

The review of the FGTS is a process that runs through the courts, in which the employee requests a review even if he has withdrawn the money in part or in full. This process is not only valid for formal workers from 1999 to 2013, as some reports erroneously report — but also workers who are currently active. Mainly taking into account that the review action refers to the unconstitutionality of the Referential Rates.

Source/Reproduction: Original

As the TR did not follow inflation, workers from 1999 to the present day ended up suffering financial losses, but the matter is still open in the STF (Federal Supreme Court) and there is no guarantee that workers will benefit from the result that is being for coming.

To file the claim in court, the employee must calculate how much he will receive with the review.

How much will I receive?

The value of the revision, of course, will be according to the length of service provided. The longer the length of service, the higher the Referential Rate.

In order to calculate the exact amount, the employee must have all the FGTS statements at hand, mainly because his account varies according to the employers, that is: if the worker had a boss X, his FGTS will be in an account X, while the boss Y will be on account Y.

Anyone wishing to file a review request, however, should do so as soon as possible. As the STF has not yet set a date for the monetary correction, it is possible that there are great possibilities for gains as well as a modulation appeal, which means that only those who already had the request in progress in court will be entitled to review.

How to review the FGTS?

To carry out the request, the employee must have all the statements of all the accounts — in case there were several employers, which implies several accounts in the Caixa Econômica Federalone for each employer — and have calculated the amount that will be received

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