Have you ever heard of FGTS profits? Do you know what this means and who is entitled to this benefit? We'll explain everything to you!
If you follow the news, whether on TV, radio or the internet, you've probably noticed the recent buzz around the FGTS.
Called FGTS profits, this subject has aroused the interest of Brazilians who want to understand more about it and find out if they are entitled to this benefit.
As we all know, extra money is always welcome, so we decided to tackle this topic in today's content!
Here you will find the main information about the benefit, understand what it means for Brazilian citizens and find out if you are one of the workers who can receive it!
Download Now Digital
Find out all about FGTS.
*You will remain on the current site
What is the FGTS?
The Severance Indemnity Fund (FGTS) is a right of Brazilian workers. Created to offer assistance to employees dismissed without just cause, the FGTS consists of monthly deposits of 8% of the worker's salary, made by the employer into a specific account.
This amount can be accessed by the worker in certain situations, such as dismissal without just cause or agreements between employer and employee.
What are FGTS profits?
FGTS profits, although they have gained prominence recently, are nothing new. This payment began in 2017 to increase the fund's profitability. Profits are distributed annually, by August 31st. These profits come from FGTS financial operations, such as loans and financing. In 2023, R$ 13.2 billion will be distributed.
Who is entitled to the FGTS profits?
To be entitled to the FGTS profits, you must have a balance in your FGTS account on December 31, 2022. The profit will be distributed in 2023, even if the worker has withdrawn all the money from the fund. The higher the worker's balance, the higher the value of the FGTS profit.
The amounts received are subject to a monetary correction before being returned, but the details of this correction have not yet been announced.
When will the FGTS profits be released?
FGTS profits will be passed on to workers until August 31, 2023. The government uses the FGTS money to finance infrastructure and basic sanitation projects in the country, compensating this use with a monetary correction.
How does withdrawing this amount work?
In order to withdraw FGTS profits, workers need to meet some specific conditions. See the requirements for withdrawing the amount:
- Unjustified dismissal
- Termination by agreement between employer and employee
- Buying your own home
- Complementing the payment of a property bought through a consortium
- To supplement the payment of a property financed by the SFH (Housing Finance System)
- Termination of fixed-term contract
- Termination due to mutual fault (employer and employee) or force majeure
- Termination due to retirement
- In the event of natural disasters
- Freelance workers suspended for 90 days or more
- Workers aged 70 and over
- Workers or dependents with HIV
- Workers or dependents diagnosed with cancer
- Workers or dependents in the terminal stage of a serious illness
- Employees who do not have a formal contract for three years or more
Conclusion
So, did you know what FGTS profits mean and what they represent for workers?
Now that you're informed about this benefit, I bet you're more excited to receive it, aren't you?
Even if the amount of FGTS profits is small, any extra money will help you close the month in the black or enable you to carry out a personal project, such as a trip, a renovation or the purchase of something you want.
