Since 2023, the obligations related to the FCT and FGCT Compensation Funds have been suspended , including the obligation to join, notify new employees and pay monthly contributions.
The Decreto-Lei n.º 115/2023, publicado a 15 de dezembro, amended the legal regimes of FCT and FGCT.
With this change, the FCT becomes a closed-end fund, consisting of the balances of the employers' global accounts.
This, in addition to continuing to ensure the right of workers to effectively receive half of the amount of compensation due upon termination of the contract, can also be used to:
- Support the costs and investments of workers' housing;
- Support other investments, such as childcare centers and cafeterias;
- Financing the qualification and certified training of workers.
How do I request a refund?
Companies can request the reimbursement of their capital from the FCT, as long as they meet certain criteria:
- Employers with a global balance of up to €400,000 can request to mobilize up to two times.
- Employers with a a balance equal to or greater than €400,000 can request to mobilize up to four times.
After reaching the maximum limit of mobilizations, employers cannot request further reimbursements.
To request reimbursement, companies must communicate the amount, the purposes of the reimbursement and the beneficiary workers, through a statement on the compensation funds' website.
Deadlines to request FCT reimbursement
It is estimated that employers will only be able to consult the global accounts and enter claims from 15 February 2024..
The balance of global accounts can be requested until December 31, 2026.
Main changes to the FGCT
Regarding the Labor Compensation Guarantee Fund (FGCT), it continues to ensure the right of workers to effectively receive half of the amount of compensation due upon termination of the employment contract.
However, currently, the obligations to admit new workers and pay the FGCT are suspended.