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The Severance Indemnity Fund (FGTS) is about to undergo significant transformations, with changes scheduled to take effect in 2024. The Ministry of Labor, under the leadership of Minister Luiz Marinho, announced that these changes will go to the National Congress next year.
The FGTS, known for being a vital resource for workers dismissed without just cause, is about to become even more flexible and beneficial for Brazilian workers.
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FGTS allows workers to make withdrawals
Currently, the birthday withdrawal option allows workers to access part of the balance in their FGTS accounts during their birthday month. However, in the event of dismissal, workers can only withdraw the severance fine, not the full balance.
The proposed changes aim to correct this limitation, allowing the full balance to be withdrawn in the event of dismissal, in addition to the severance fine. This review is seen as a measure of fairness for workers, providing greater access to their own resources.
Details of the proposed changes
There are still no details about the specifics of the proposed changes. However, it is known that the main change concerns the possibility for workers to withdraw the full balance from their FGTS accounts, in addition to the severance fine, in the event of dismissal.
Thus, this represents a significant change compared to the current rule, which limits the withdrawal to the amount of the severance fine for those who opt for the birthday withdrawal.
Impact on workers
These changes to FGTS have the potential to positively impact millions of Brazilian workers. By providing greater flexibility and access to FGTS funds, workers will have more financial security during periods of job transition.
In addition, the measure may encourage more people to opt for the birthday withdrawal option, knowing that they will have access to the full balance if needed.
Image: Marcelo Camargo/Agência Brasil
