Many Brazilian workers wonder whether it is possible to withdraw their Severance Pay Guarantee Fund (FGTS) every year, even if they are not dismissed without cause. The answer is yes, thanks to the anniversary withdrawal method introduced in 2019.
This option allows workers with formal employment contracts to access part of their FGTS balance annually, in the month of their birthday. However, it is important to note that by opting for this option, the worker waives the right to withdraw the severance pay. Therefore, if the worker is dismissed without just cause during a period of two years, he or she will not be able to withdraw the funds.
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Other withdrawal options
In addition to the anniversary withdrawal, there are other situations in which the sake FGTS withdrawals can happen. These include cases of unfair dismissal, retirement, serious illness, or for the purchase of a home.
The FGTS, managed by Caixa Econômica Federal, represents an important financial reserve for workers. Thus, it consists of monthly deposits equivalent to 8% of the gross salary, made by the employer.
Conditions for withdrawing FGTS
Withdrawals from FGTS funds are not limited to anniversary withdrawals. There are several other conditions that allow access to these funds. For example, workers can withdraw funds in cases where a fixed-term contract ends, the employer goes bankrupt, the employee dies, or when the account holder reaches 70 years of age.
In addition, special situations such as the need for health treatment in cases of HIV or cancer also allow withdrawals from FGTS. It is essential that workers are aware of these conditions so that they can access their funds when necessary.
Anniversary Withdrawal Details
The anniversary withdrawal is a method that allows workers to withdraw part of their FGTS balance annually. The amount available for withdrawal varies according to the total balance in the account and follows a specific table, which determines the percentage and additional portion that the worker can withdraw.
For example, for balances of up to R$ 500.00, it is possible to withdraw 50% of the amount, while for balances above R$ 20,000.01, the percentage is 5%, plus an additional installment of R$ 2,900.00. It is important to remember that by opting for this modality, the worker will not be able to withdraw the full amount of the FGTS in the event of dismissal without just cause, being entitled only to the termination fine of 40%.
In short, the FGTS offers several withdrawal options, including the anniversary withdrawal option, which allows workers to access a portion of their funds each year. It is essential that workers are well informed about the rules and conditions to make the most of the benefits that the FGTS can offer.
Image: Fernando Frazao/Agência Brasil
