The Severance Indemnity Fund (FGTS) was created to protect Brazilian workers in certain situations, such as in cases of unfair dismissal.
Every worker with a formal contract has a FGTS account, into which the employer deposits a monthly amount equivalent to 8% of the employee's salary.
Withdrawal of FGTS
How to Withdraw and Process Details
There are various ways of withdrawing FGTS, each suitable for different circumstances and needs:
How to withdraw and details
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Birthday WithdrawalAllows workers to withdraw part of their FGTS balance every year, in the month of their birthday.
Emergency WithdrawalIntroduced in 2020 as a government response to mitigate the economic impacts of the COVID-19 pandemic, allowing workers to withdraw a set amount.
Withdrawal for Unjustified DismissalWhen a worker is dismissed without just cause, they have the right to withdraw the full amount from their FGTS account.
It is essential that workers know the rules, conditions and deadlines for each type of withdrawal, as these can vary.
Benefits of withdrawing FGTS
Making Dreams Come TrueMany people use their FGTS to carry out personal projects, such as home renovations, trips or even starting their own business.
Financial securityOne of the advantages of a loan via an anniversary withdrawal is that the installments are deducted directly from the FGTS, without impacting the worker's monthly budget.
Competitive Interest RateThe anniversary loan has lower interest rates compared to other types of loans, making it an attractive option.
Debt settlementWith the amount withdrawn, many workers are able to pay off high-interest debts, such as credit cards or loans, easing their financial situation.
Conclusion
The FGTS is an important resource for Brazilian workers. Whether it's to guarantee financial security in times of crisis or to help make dreams and goals come true, it's essential to understand its rules and possibilities. So seek out information, keep up to date and make the most of your FGTS.
