The Employment Compensation Fund (FGTS) was created with the aim of protecting a worker fired from work without a valid reason, by opening an account linked to an employment contract.
At the beginning of each month, employers deposit into accounts opened with Caixa, on behalf of employees, an amount equal to 8% of each employee’s salary.
The FGTS consists of the total of these monthly deposits and amounts belonging to employees who, in some cases, may be the total amount deposited in their names.
Thus, last year the FGTS allowed workers to recover up to one minimum wage from their active (current jobs) or inactive (previous jobs) accounts.
In 2021, the measure was expected to be released, but so far, the government has shown no indications that it will repeat the emergency withdrawal this year. Priority was given to emergency aid and the thirteenth salary advance to the National Institute of Social Security.
If by chance the government withdraws the emergency withdrawal, it will be possible to withdraw up to the minimum wage (1,100 R$).
Will the withdrawal be released?
The Ministry of Economy has already made it clear that in 2021, the emergency withdrawal from the Employment Compensation Fund (FGTS) will not be released.
FGTS management has informed that a new round of emergency drawdowns could jeopardize the fund’s sustainability.
Editing by Jorge Roberto Rigit Cunha – Journalist Contapel