The National Monetary Council (CMN) today (21) revoked the rules that regulated the former fund of the Public Servant Asset Formation Program (Pasep), which ceased to exist in 2020. The decision was made on the recommendation of the Attorney General’s Office of the National Treasury , who understood that the rules referring to the fund should be included in the Decree 10,139/2019also known as Revogaço, which extinguished old norms.
Created in 1973, the Pasep fund operated in a similar way to the Social Integration Program (PIS) fund, which included quotas formed by the PIS/Pasep paid by taxpayers. PIS was intended for workers in the private sector. Pasep, to public servants, military and state employees.
With the 1988 Constitution, the collection of PIS and Pasep stopped going to accounts in the name of workers. The money started to be destined to the National Bank for Economic and Social Development (BNDES) and the Worker Support Fund (FAT), which finances professional qualification courses and the payment of salary and unemployment insurance.
The resources of the PIS and Pasep funds were at a standstill for decades. In 2016, 2017 and 2018, the government opened a round of withdrawals by age limits. In 2019, the Law 13,932 allowed withdrawal by all quota holders (workers with a formal contract before the 1988 Constitution) and facilitated withdrawal by heirs, who now have simplified access to resources.
In 2020, the Provisional Measure 946 extinguished the PIS-Pasep fund. About R$ 23 billion of workers’ assets were preserved, being transferred to the Severance Indemnity Fund (FGTS), unifying all withdrawals at Caixa Econômica Federal.
The money can be withdrawn until June 1, 2025. After that date, the funds will be transferred to the Union. The withdrawal can be requested in the Meu FGTS app, which allows the transfer to a checking account. The tool also informs whether the worker is entitled to fund quotas.
Amounts below R$ 3,000 may be withdrawn at lottery outlets, Caixa Aqui correspondents or at self-service terminals, using the Citizen Card, which requires entering a password. Above R$ 3 thousand, only in Caixa branches, upon presentation of an official document with photo.
merchant navy
The CMN also approved a resolution that updates the rules for the application of funds from the Merchant Marine Fund (FMM), which promotes the Brazilian naval industry. According to the Ministry of Economy, the new rules reflect the Law 14,301/2022which instituted the Cabotage Transport Stimulus Program, also known as BR do Mar.
The new rules will take effect on August 1. Among the changes made, we highlight the regulation of loans with resources from the FMM to foreign companies, the provision of loans with resources from the fund for the construction or production of vessels to support activities on the high seas and the authorization for the fund to support all vessels intended for fishing, not just artisanal fishing boats.
