FGTS withdrawal; Caixa versions benefit in these situations

a FGTS It is a mandatory social insurance fund that provides 8% of the worker’s salary per month to support him in the event of certain events.

Situations such as prolonged illness, separation, or the purchase of a new home are among the cases permitted for the benefit to be withdrawn. Additionally, in 2019, the federal government issued an FGTS withdrawal for all workers.

This economic measure unleashed more than 10.8 billion US dollars (40 billion Brazilian reals) into the country’s economy. The FGTS is funded by contributions made by employers.

The amount deposited into each FGTS account (one is created for each new employment contract) can only be withdrawn by the worker in specific cases, such as unfair dismissal or retirement, among other scenarios.

In the government of Jair Bolsonaro, cases have been created in which it is allowed to withdraw this fund.

A new feature recently implemented is that FGTS electronic withdrawals are now only made through the Caixa Econômica Federal app.

As a result of the face-to-face service restrictions imposed by the COVID-19 pandemic, CAIXA has invested in service technology solutions in digital channels to improve the customer experience, in order to provide greater convenience, security, and agility for operations.

FGTS withdrawal

The unemployment

The absence of interruption for three years or more without formal contract work in Brazil allows the worker’s accounts to be withdrawn.

birth month

The worker will be allowed to withdraw only in the month of birth of the FGTS account holder.

No deposit

The worker has the right to withdraw if the employer has not deposited the deposits for a period of three continuous years or more. This status includes removals that occurred up to 07/13/1990.

registration

Employment contracts expire without a valid reason, which gives the worker the right to this benefit, as well as a fine of up to 40%.

temporary contract

If you have a temporary employment contract, you have the right to withdraw the FGTS. The entire procedure is performed by the FGTS application.

the retirement

When you reach retirement age, the loot is automatically released to all workers.

If the worker fulfills all Caixa requirements to operate the FGTS account, the funds will be credited to the account indicated by the worker within 15 working days.