The Minister of Economy and Finance, José Arista, was against the new withdrawal of 100% of the Compensation for Time of Service (CTS), approved by the Economy and Labor commissions of Congress for all of 2024, and asked legislators respect the current intangibility of up to four salaries.
After a meeting of the ministerial cabinet, the head of the MEF stressed that the CTS is a contingency fund for the worker himself. Minister Arista left it up in the air whether he will observe the rule, which will still have to be aired in the Plenary Session, possibly in the fortnight of May.
“We take this opportunity to invoke Congress, regarding this rule referring to the withdrawal of the CTS, so that it respects a minimum [de fondos intangibles]which I estimate should be approximately four months of unemployment,” Arista said.
Currently, Law 30334, issued in 2015, allows workers to freely dispose of 100% of the surplus of four gross remunerations of CTS deposits made in financial institutions and that they have accumulated as of the date of disposal.
As recalled, the CTS is freely available as soon as the worker ends his employment relationship, so it is not necessary to wait four months of unemployment to withdraw it.
“As you know, the CTS allows a professional to maintain income during times when he is changing jobs. I would ask Congress to authorize a minimum floor of 4 months,” said the minister.
The CTS is equivalent to an annual remuneration and is deposited in two parts, 50% which must be deposited within the first 15 days of May and the second 50% within the first 15 days of November.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
