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Only 6.3% of the total amount in the first batch of the PIS-Pasep Fund withdrawal schedule was drawn by persons under 60 years of age. And only 5.2% of the beneficiaries in this group took the money. The survey comes from the Ministry of Planning. The government released looting for people aged 57 and over between June 18 and 29.
The government predicts that 28.7 million people will be entitled to 39.3 billion reais. Of this total, the under 60s are 16.1 million, with the right to receive 16.1 billion reais.
Within the 60-year-old shareholder group, 843.2 thousand of the 16.1 million unitholders subtracted R $ 1.01 billion from R $ 16.1 billion.
Including the period from October 1, 2017 to June 29 of this year, 16.7% (4.8 million) of the 28.7 million unitholders made R $ 6.6 million (16 , 7%) of the estimated 39.3 million reais.
Total withdrawals from the PIS-Pasep Fund for reasons
| Explanatory Memorandum | Expenditures and Planned Amounts | Quotaholders and Amounts Executed | ||||
| Retired | 921 702 – 1 176 billion reais [19659009] 60 years | 12.6 million – 23.2 billion rand | 2.8 million – 4.2 billion reais | |||
| Under 60 years of age | 16.1 million – 16.1 million of reais | Total | 28.7 million – R $ 39.3 billion | 843,215 – R $ 1.01 billion | ||
| Deaths and diseases | 8 million – R $ 6.6 billion |
Anyone who worked for a private company or was a civilian or military civil servant between 1971 and 1988 is entitled to receive the PIS-Pasep Fund. The average value for each beneficiary is R $ 1,375, but the Ministry of Planning states that the amount to be received depends on how long the person worked during the period when the PIS-Pasep Fund was in effect.
SEE QUESTIONS AND ANSWERS
The first stage of the new draft calendar ended on June 29th. In July, there will be an operational breakdown of the PIS / Pasep Fund, so that year – round values can be corrected, and withdrawals will not be allowed.
Effective August 14, payment begins for shareholders of all ages. And on September 28, the flexibility period for shareholders under age 60 ends.
Anyone who leaves to withdraw the PIS Pasep Fund's allowances in August will have the account balances corrected based on the fund's earnings in the last 12 months, and the estimate is too high. an increase of between 8% and 10%. For example, those with the $ 1,000 account balance will receive between $ 1,080 and $ 1,100. The correction applied the previous year was 8.9%.
Schedule of the PIS fund Pasep da Caixa Last year, the government decided to extend the age of the beneficiaries, first at least 65 in the case of men and 62 in the case of women, then reduced at age 60 the minimum age for the reception.
In June, the government authorized all Brazilians who received this money between 1971 and 1988 to withdraw it. Caixa Econômica Federal is responsible for paying PIS money to private sector employees, and Banco do Brasil pays Pasep to civil servants.
In the case of shareholders under 60, PIS is 13.6 million people, who are entitled to 13.8 billion reais, according to Caixa. Total shareholders, including those over 60, are $ 21.3 million, or R $ 28.1 billion.
In the case of Banco do Brasil, there are 2.4 million participants under the age of 60, for a total of R $ 2.3 billion. BB manages 3.67 million shares of Pasep, for a total of 6.1 billion reais.
Understanding the PIS-Pasep Funds
The PIS and Pasep funds operated from 1971 to 1988 and gave the worker the right to receive quota income and to withdraw money in the event of retirement, of serious illness or years.
Since October 1988, after the promulgation of the Constitution, the PIS-Pasep collection has been transferred to the Workers' Aid Fund (FAT), which pays unemployment insurance premiums and wages, and to the National Bank for Economic and Social Development (BNDES), which provides loans to businesses.
Since PIS-Pasep Fund quotas have been in effect for some time, many beneficiaries are unaware of this right and, in the event of the death of the shareholder, many heirs are also unaware that they are entitled to money. As a result, the government has extended the age limit and stipulated schedules to encourage withdrawals and inject money into the economy.
After September 28th, the rule on the release of withdrawals only applies to cases of retirement, age from age 60, disability (including dependents), death of the shareholder (allowing Heir to withdraw) and some serious diseases such as cancer, AIDS, Parkinson's disease and tuberculosis (including dependents).
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