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Withdrawal from CTS LIVE – How can I release up to 100% of these funds?

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The formal employees who have funds in their Compensation for Time of Service (CTS) accounts can now request the withdrawal of this money. Banks, municipal and rural savings banks must respond to requests for the release up to 100% of these savings after the Executive and Legislative powers approved this extraordinary measure.

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In accordance with current regulations, employees considered within the Service Time Compensation Law can access this disbursement until December 31, 2023. Here are immersed workers of the common labor regime of private activity who meet minimum working hours of four hours a day. people of the regime remypewhich access 50% of the CTS, can also withdraw their funds.

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How to request the withdrawal of money by CTS?

Follow these steps after having decided to withdraw your CTS money from financial institutions:

  • Check in which bank, municipal or rural savings bank the CTS money has been deposited. If you don’t know, you should ask your employer directly
  • If you opt for the face-to-face method, you can go to an ATM and have the funds immediately. There is also the option of the windows of the financial institution
  • Another alternative is to withdraw the amount virtually through the Mobile banking or website of your financial institution. For this step it is essential to know if your CTS account has an available balance. Then it is up to make the transfer to a personal account.

Which workers do not receive CTS?

The current law indicates that sectors such as civil construction, fishermen, artists and similar cases subject to CTS special regimes They are excluded. Likewise, those who work in the public sectoremit receipts for fees or are in the informal sector.

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Source: Larepublica

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