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April 2, 2024
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All about FGTS

Having a work with a formal contract offers, in addition to stability, benefits such as FGTS, the so-called Working Time Guarantee Fund. Although it is a benefit that workers often forget, having access to it only in specific situations, it was created by the Federal Government to guarantee a money reserve for all Brazilian workers who have a formal contract.

Caixa Econômica Federal keeps the FGTS in accounts in the name of each worker, and these accounts make up a single account in which the government uses the funds for popular housing, sanitation and urban infrastructure programs. Even though this money is being used by the government, the worker is entitled to withdraw the money from his account.

Rural workers, temporary workers, who provide services to trade unions and professional athletes, for example, are entitled to the FGTS as are employees of companies under the Labor Law Consolidation regime? the CLT.

Employer payment of FGTS

Monthly FGTS deposits are paid by the employer and must be made to each employee's FGTS account. The amount to be paid corresponds to 8% of the employee's salary.

Through the FGTS Collection Company System and Social Security Information? downloaded from the website of Caixa Econômica Federal? the contractor fills in the employee data, sends this information to Caixa via the Internet through the Social Connectivity program, issues and prints the FGTS Gathering Guide and Social Security Information through which you pay the FGTS at an agency of Federal Savings Bank.

How to tell if FGTS is being paid

Through the bimonthly statement of your FGTS account, sent by mail to the address that the company registered in the FGTS Collection Company System and Social Security Information as your address;
By consulting the website of Caixa Econômica Federal, with the PIS number in hand;
Making the Citizen Card by calling 0800-726-0101. With the card, which is received at home through the post office, you can consult the statement at the ATMs of Caixa Econômica Federal.

When is it possible to withdraw FGTS

The worker should consult the website of Caixa Econômica Federal or go to an agency to know the necessary documents and make the schedule to withdraw the FGTS in the following situations:

After retiring;
When buying a property in your name or doing home renovations;
When you are dismissed without cause;
If the employer dies or the company closes;
When the temporary employment contract ends;
When a worker providing services to a union has been without paid employment for 90 days or more;
From the age of 70;
If the worker, his wife or child has AIDS, cancer or is terminally ill of any disease;
After three straight years being out of the FGTS scheme.

FGTS money in the Caixa Econômica Federal account has an average income of 3% per year and will always be available until the worker becomes eligible to access it. If you have plans to make a mortgage to buy your own home or make home renovations, you should choose the right time to withdraw money and seize the opportunity by making one of these allowable investments.