Withdrawing PIS or PASEP quotas could become an opportunity to earn additional money in 2023. See here who is eligible and how to recover the funds.
What do PIS or PASEP quotas mean?
PIS (Social Integration Program) and PASEP (Public Servant's Asset Formation Program) quotas are benefits related to social assistance and asset formation programs in Brazil.
PIS is intended for private sector workers, while PASEP is aimed at public sector employees.
Both programs have the main objective of promoting the distribution of resources to workers and encouraging the formation of assets.
PIS and PASEP quotas refer to a portion of the funds accumulated by workers in individual accounts linked to these programs.
These resources come from contributions made by companies to the Workers' Support Fund (FAT) and are distributed to workers according to rules established by the government.
In the past, when the programs were created, workers were entitled to an individual quota, which corresponded to a portion of the accumulated balance in their accounts.
However, starting in October 1988, the distribution of quotas was suspended, and the funds began to be used for the payment of salary bonuses and annual income.
Therefore, the PIS and PASEP quotas represent the rights accumulated by workers before October 1988, which were not withdrawn at the time.
Currently, withdrawals from the accounts are permitted in specific situations, such as retirement, serious illnesses, disability, and other conditions established by the government.
Who is entitled to PIS or PASEP quotas?
The rules for being eligible for PIS (Social Integration Program) or PASEP (Public Servant's Asset Formation Program) quotas vary depending on each program. Let's explain the conditions for each one:
PIS:
- To have been registered with PIS by October 4, 1988.
- To have worked with a formal employment contract (CLT) for at least one month during the period from 1971 to 1988.
- Not having withdrawn the PIS balance before October 4, 1988.
PASEP:
- To have been registered with PASEP by October 4, 1988.
- To have held a paid position in the public sector (civil servant) during the period from 1971 to 1988.
- Not having withdrawn the PASEP balance before October 4, 1988.
It is important to emphasize that, in 1988, the distribution of quotas was suspended, and the funds began to be used for the payment of salary bonuses and annual income. Therefore, the right to PIS and PASEP quotas is related to the period prior to this suspension.
How do I withdraw PIS or PASEP quotas?
To withdraw funds from the PIS (Social Integration Program) or PASEP (Public Servant's Asset Formation Program), you need to follow the procedures indicated by the government. Here's how to make the withdrawal:
PIS quotas:
- If you are a Caixa Econômica Federal account holder, your PIS quotas will be automatically deposited into your account, provided you meet the withdrawal requirements.
- If you are not a Caixa account holder, there are a few options for withdrawing funds:
- At Caixa Econômica Federal branches: Bring a valid photo ID and your PIS number. Check the withdrawal schedule published by Caixa to find out the available dates.
- At lottery outlets and Caixa Aqui correspondents: You need to have your Citizen Card and a registered password. If you don't have a password, you can register one at Caixa branches.
- Through the Caixa Tem app: If you have the Caixa Tem app, you can check and withdraw your PIS quotas through it.
PASEP quotas:
- For public employees who are account holders at Banco do Brasil, PASEP quotas will be automatically credited to their account.
- If you are not a Banco do Brasil account holder, you can withdraw the funds using the following options:
- At Banco do Brasil branches: Bring a valid photo ID and your PASEP number. Check the withdrawal schedule published by the bank to find out the available dates.
- Through the Banco do Brasil app: If you are an account holder and have access to the app, you can check and withdraw your PASEP quotas through it.
It's important to remember that withdrawal schedules are released by the responsible agencies, such as Caixa Econômica Federal and Banco do Brasil.
It is recommended to consult the official websites of these financial institutions and check for updated information regarding the process of withdrawing PIS or PASEP quotas.
