The government on Thursday approved an authorization to increase spending in order to create and develop systems for managing the Compensation Fund Work (FCT) and the Guarantee Fund for compensation of Work (FGCT) that, from 1 October, will guarantee the payment of severance pay.
funds that have already been approved in general in the National Assembly, will be managed by Social Security, which implies the creation of a computer application root.
“The aim is to ensure that decision, as of October 2013, the operation of the computer system for the technical and operational management of the FCT and FGCT” said Luis Marques Guedes, Minister of the Presidency.
“The investments agreed today is still targeting a better control in combating fraud and evasion contribution, providing a better and more timely service centered on the individual and the company, thus enhancing the quality and transparency of the system,” says turn the statement of the Council of Ministers.
Last week, the House approved in general the qualifications that create funds, now missing its discussion on the details and final approval overall.
creation of FCT is planned in consultation agreement signed in January 2012 by the social partners. The fund shall be maintained by companies, which are obliged to deduct 0.925% for each employee who hire October onwards. In case of dismissal, the company may redeem the fund to pay up to half the compensation.
Employers will still be required to deduct 0.075% for FGCT, which is designed to pay part of compensation that are not paid by the FCT and that companies can not vouch for liquidity problems or insolvency.
These funds were a requirement of the UGT to compensate for the reduction of redundancy. The third phase of the process is to reduce from 20 to 12 days of salary for each year of the compensation that the company will have to pay to the employee who is the subject of collective dismissal or termination of job.
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