An emergency withdrawal from the Separation Compensation Fund (FGTS) is one of the most long-awaited actions by workers who are working under a formal contract. The truth happens because this is the only action targeting workers in the CLT system and it ends up being another breath in a moment as complex as what we’re going through.
The FGTS emergency withdrawal is a procedure that occurred in 2020 that allowed all workers with a balance in FGTS accounts to be able to recover up to the minimum wage for themselves. This action freed more than R $ 37 billion in the economy and helped more than 60 million workers.
The calendar started on June 29, 2020 and was available until December 31, 2020. Withdrawal was optional and whoever did not wish to be refunded was sufficient not to withdraw the available balance.
And this year will serve the FGTS?
For 2021, the measure has been studied since last year, when the government designed a containment plan in the event of a second wave of Covid-19 arriving in the country, which in fact ended up.
However, at the turn of the year, little was said about the new release of fund withdrawals, but there was still an expectation that the balance could be released by the end of June this year. The delay in issuance would make more sense by enabling workers who had redeemed their balances to accumulate new values for new withdrawals.
For this year, this measure is expected to work the same way it did last year, allowing workers to recover up to the minimum wage from their fund accounts.
For workers interested in this measure, what remains is to wait for a position from the government, which is currently working to launch many measures that are hindered by the 2021 budget. For workers in the midst of the health crisis.
How does emergency withdrawal work?
FGTS emergency withdrawal differs from other available methods such as immediate withdrawal, which allowed workers to redeem R $ 500 on a FGTS account.
The measure passed last year also allowed for the withdrawal of up to one minimum wage for workers, if the balance was below the minimum wage, the balance was allowed to be fully recovered.
For people with more than one FGTS account, the balance will be presented in the following order:
- Starting with the accounts associated with work contracts that have already been terminated (i.e. previous jobs), starting with the account with the lowest balance;
- Next, the other linked accounts, also starting with the lowest balance account.
The purpose of this order is to prevent the worker from withdrawing amounts from his FGTS account associated with his current job, and whereby he continues to receive monthly deposits from the current company that hires him.