FGTS Withdrawal: Everything You Need to Know

THE FGTS withdrawal is an important benefit for Brazilian workers, providing access to resources deposited in their accounts linked to the Severance Indemnity Fund (FGTS). 

In this article, we'll explore the essential details about FGTS withdrawals, clarifying the main questions on this topic. 

What is FGTS Withdrawal?

In short, it is a service that allows workers to withdraw the amounts deposited in their FGTS accounts. 

It was created to offer more comfort, agility and security, eliminating the need to go in person to a Caixa Econômica Federal branch. 

Let's understand how it works in a few simple steps:

1. Digital Access: Digital Withdrawal is 100% online. Workers can check their FGTS funds through the FGTS app and request withdrawals. All without leaving home!

2. Withdrawal Methods: The service is available to workers who fall into one of the categories provided for in Law No. 8,036/1990. 

This includes different situations that you will see in another topic, still in this text. 

3. Account Holder: The worker can designate an account in their name at any bank to receive the withdrawal. This flexibility is a major advantage.

4. Upload Documents: You can upload the necessary documents to request a withdrawal through the app. This makes the process even faster.

5. Follow-up: The worker can monitor every step of the process, from the request to the release of funds. Transparency is essential!

Sounds simple, right? But it really is! For workers eligible for FGTS withdrawals, the process for requesting this amount is very simple and quick. 

In fact, some financial institutions even offer advance withdrawals in some cases.

However, this is not a recommended practice, as interest is charged. 

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Who is entitled to FGTS withdrawal?

All employees with a formal employment contract are entitled to the FGTS, regardless of the type of employment contract (temporary, part-time, intermittent, etc.).

In addition, domestic employees, rural workers, temporary workers, casual workers, seasonal workers (rural workers who only work during the harvest period) and professional athletes are also entitled to the benefit. 

However, the benefit is the right to withdraw, since the FGTS is your money by right, but it cannot be withdrawn whenever you want.

Therefore, you must comply with the withdrawal methods. See more details below. 

Main Withdrawal Methods

Here are the main FGTS withdrawal options. They represent the situations in which money can be withdrawn from your Guarantee Fund. 

1. Dismissal without just cause: Also known as “dismissal without just cause,” it allows the worker to access the balance in their FGTS account when they are dismissed from their job.

2. RetirementRetirees are also entitled to withdraw their FGTS (Unemployment Fund). It's a way to supplement their retirement income.

3. Property Purchase: The FGTS can be used to acquire, settle or repay housing finance.

4. Serious Illnesses: In cases of serious illness, the worker can withdraw the FGTS.

5. Termination by Agreement: When there is an agreement between employer and employee to terminate the employment contract, withdrawal is permitted.

In addition to these modalities, this withdrawal also falls under the FGTS Anniversary Withdrawal. 

In this modality, the worker can withdraw part of their FGTS on their birthday. 

It is in this modality that we find the possibility of advance payment through an advance loan. 

Among these modalities, we could also not mention the Calamity Withdrawal, a modality that unfortunately has been used a lot in recent years.

It occurs when the worker faces some calamity in the region where he lives, such as floods and other natural disasters.

To help families get through these times, the government and Caixa are releasing FGTS withdrawals for families in airlines in a state of public calamity.  

Data and Statistics

To give more authority to our content, we present some relevant statistics about the FGTS:

– In 2020, more than 37 million workers made withdrawals from their FGTS.

– The average amount withdrawn was approximately R$ 1,000.00.

– The most common type of withdrawal was dismissal without just cause and retirement.

Conclusion

Anyway, the FGTS withdrawal is a valuable tool for Brazilian workers. 

With the ease of Digital Withdrawal and the variety of options available, it's important to know your rights and take advantage of this benefit when necessary. 

However, it is very important to think carefully before withdrawing this money and only do so in cases of extreme necessity or when the Fund will no longer receive deposits, such as upon retirement or unfair dismissal. 

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