The Severance Indemnity Fund (FGTS) is a compulsory savings account created to protect Brazilian workers in specific situations, such as dismissal without just cause.
Every worker with a formal contract has a FGTS account, where the employer deposits a monthly amount equivalent to 8% of the salary.
How to Withdraw FGTS: Step by Step
The FGTS can be withdrawn in various situations, and each type has its own rules and characteristics. Here are some of the main withdrawal methods:
FGTS Program
How to withdraw and details of the process
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Withdrawal methods
Birthday Withdrawal: Allows workers to withdraw part of their FGTS balance every year, in the month of their birthday.
Emergency Withdrawal: Implemented in 2020 as a measure to address the economic impacts of the pandemic, this withdrawal offered workers the possibility of withdrawing a specific amount from their accounts.
Withdrawal for dismissal without just cause: Available to workers dismissed without just cause, allowing full withdrawal of the FGTS balance.
Each type of withdrawal has specific criteria and deadlines. That's why it's essential for workers to know the conditions of each one in order to avoid unforeseen circumstances.
Advantages of withdrawing FGTS
Achieving goals: Many workers use their FGTS to carry out projects, such as home renovations, trips or even starting their own business.
Financial security: In the case of a loan via an anniversary withdrawal, the installments are deducted directly from the FGTS, offering a credit solution that does not compromise the monthly budget.
Attractive Interest Rate: The saque aniversário loan has a lower interest rate compared to other types of credit, making it an interesting alternative for those who need extra cash.
Paying off debts: Many workers use the FGTS withdrawal to pay off high-interest debts, such as credit cards and loans, providing greater financial relief.
Conclusion
The FGTS is an essential tool for Brazilian workers, offering financial support at critical times and helping to achieve personal projects and goals. Keeping abreast of the rules and withdrawal possibilities is fundamental to making the most of the resources available.
