FGTS anniversary withdrawal breaks redemption record in January, says Caixa

The number of redemptions of the anniversary withdrawal from the Severance Indemnity Fund (FGTS) broke a record for the month of January, informed Caixa Econômica Federal this Thursday (26).

Until the last 24th, 2.2 million withdrawals were carried out in this modality, totaling R$ 1.11 billion. Last year, the same month registered 1.7 million redemptions, which totaled R$ 1.10 billion. In January 2021, the numbers were 1.4 million and R$ 1.07 billion.

The record comes amid a debate about the extinction of the sport, created in 2019 by former president Jair Bolsonaro (PL). In an interview with CNN On the last January 4th, the current Minister of Labor and Employment, Luiz Marinho (PT), stated that the portfolio plans to extinguish the birthday withdrawal to “put the situation on track”.

“The previous government, to put money on the square, created the birthday withdrawal, which would be the guarantee for the payroll loan, creating an aggravation. An absurd business that happened in the market and a distortion in the role of the Fund”, he declared. “It is therefore necessary to put it on track.”

The following day, however, Marinho published on Twitter that the maintenance or extinction of the anniversary withdrawal will be “the subject of wide debate” with the FGTS Board of Trustees and union centrals. The move was seen as a possible step back from the repercussions of the announcement.

Then, last Tuesday (24), he reinforced the idea, saying that, if it were up to him, the anniversary withdrawal will end, although he highlighted that the current contracts will be analyzed on a case-by-case basis.

Marinho said that he will propose to the Board of Trustees the suspension of the withdrawal as of March. The matter will be discussed at a meeting scheduled for the 21st of the month.