Fundo PIS-Pasep: the consultation of the balance with readjusted value begins Monday | Financial Education

Whoever took the PIS-Pasep Fund's quotas last month did not receive the correction. Those with the $ 1,000 account balance, for example, will receive $ 1,089.74.

You are entitled to the PIS-Pasep Fund, which worked with a private portfolio or was a civilian or military official between 1971 and 1988. The average value for each beneficiary is R $ 1375, but the Ministry of Planning stipulates that the amount to be received depends on the time during which the person worked during the period the fund was in effect.

PIS accounts related to private sector employees are managed by Caixa Econômica Federal. Pasep, linked to the civil servants, is managed by Banco do Brasil.

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Caixa and BB published in June the withdrawal schedule for beneficiaries of all ages. The release of the looting for the under 60s is only valid until September 28th.

After this date, the rule of the release of withdrawals only applies to cases of retirement, age from 60 years, disability (including dependent), death of the shareholder (allowing heir to withdraw) and certain diseases such as cancer, AIDS, Parkinson's disease and tuberculosis (including dependents). In such cases, it is possible to withdraw at any time, without having to follow a schedule, and the deadline is open indefinitely.

Since the PIS-Pasep Fund's quotas have been in force for some time, many beneficiaries are unaware of this right and, in the event of the shareholder's death, the heirs do not know either that they have the right to money.

Since the government began to extend the age limit for the release of money, looting has been below expectations. According to a survey by the Ministry of Planning, only 6.3% of the total amount in the first batch of the PIS-Pasep 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 government released the service for people aged 57 and over between June 18 and 29. 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 permitted.

Effective August 14, payment begins for shareholders of all ages. And on September 28, the flexibility period for shareholders under age 60 ends.

To view the balance of the PIS-Pasep Fund, the shareholder or the heir must access the websites of Caixa or Banco do Brasil. In both, with the CPF number, it is already possible to see if there is money to be released. See below how to check balances:

Accounts PIS, employee-related private sector, are administered by Caixa Econômica Federal. Shareholders or heirs can check if they have a balance to be received on the bank's website at www.caixa.gov.br/cotaspis

To view the balance of the PIS quotas, either the CPF number or the NIS number of the shareholder, which can be found:

• in the Citizen's Card
• in the general notes of the old Workbook;
• in the identification page of the new Work FGTS printed

See how to locate your PIS or NIS number on the Internet

In case of consultation of the NIS number, the beneficiary or the heir will have also need a pbadword. Those who already have the pbadword Citizen can connect to this link, made available on the Caixa website, and enter the Internet pbadword that they wish to register.

Who does not have the pbadword can click on "forgot pbadword" and fill in the requested data, or, if you have the Citizen Card, pre-register the pbadword by phone at 0800-726-0207. For those who do not have the card, it is also possible to register with a Caixa agency.

The accounts of Pasep , related to civilian or military officials, are administered by the Bank of Brazil and it is this bank that shareholders should seek information and withdrawals.

Consultations on the Pasep balance can be found on the Banco do Brasil website, at www.bb.com.br/pasep. You will be asked for the CPF number or the Pasep registration number as well as the date of birth of the shareholder.

The total number of beneficiaries is 28.7 million people, for a total of 39.3 billion reais, or 12.5 million people aged 60 and over who have the right to withdraw 23.2 billion and 16.1 million reais. millions of people under 60 with the right to withdraw 16.1 billion reais.

With the release of shareholders of all ages to withdraw the fund, the government expects withdrawals to rise.

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.

Only for the account holders of Caixa and BB will be released R $ 5 billion from August 8. The other beneficiaries, however, will have to look for the agencies to make the withdrawals.

What is PIS-Pasep funds?

The PIS and Pasep funds operated from 1971 to 1988 and gave workers the right to receive quota income and to withdraw money in the event of retirement, critical illness or when he turned 70 years old.

Since October 1988, after the promulgation of the Constitution, the PIS-Pasep collection has been transferred to the Workers Assistance 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 a fixed period, many beneficiaries are unaware of this right and, in the event of the death of the shareholder, many heirs are also unaware they have the right 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 applies only to cases of retirement, age from 60 years, disability (including dependents), death of the insured person. shareholder (allowing the heir to withdraw) and some serious diseases such as cancer, AIDS, Parkinson's disease and tuberculosis (including dependents).