The federal government has created a new rule for using the Separation Compensation Fund (FGTS) to fund home ownership. FGTS Futuro or FGTS consigned aims to help people who do not have enough money to finance a property.
Every month, the worker’s company must deposit 8% of the salary into this guarantee fund. Thus, the employee creates a balance that can be used at specific times in his life, as in the event of dismissal without just cause, for example. FGTS Futuro intends to create a new base within this system.
The idea is that from April 2023, workers who want to enter the new system will be able to use FGTS funds that have not yet been deposited into their guarantee fund. It is as if the employee has already committed to the amount that he will still receive from the balance in the property installment payments.
The new law does not serve all citizens. The idea is that the system can only be used by workers who have a gross monthly income of up to R$2,400. According to the specialists, the positive point in this system is that it allows the worker to apply for loans with larger installments.
But there are also risks that the operator must take into account. One is the usually high interest rate in this system. Another point to be included in the analysis is the question of separability. If an individual is dismissed, they will not be able to withdraw their FGTS, even if the dismissal occurred without just cause.
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In the case of separation, two negative points occur. The first is that the citizen will not have the FGTS funds to make the withdrawal for himself. The second is that he should not be able to finance financing with that amount.
If a citizen is fired, the company will naturally not make payments to the Worker’s Guarantee Fund. In this case, he will have to renegotiate the entire process of paying the monthly fee so that he does not accumulate debts resulting from the delay.
This means that even after dismissal without just cause, funding is not cancelled. As in the salary system, a citizen has to take money from his own pocket if the source of income is suspended.
When does FGTS Futuro start?
The good news is that the employee still has time to think carefully before contracting with this type of system. According to official information from Federal governmentThis type of FGTS payroll will not be available until another 90 days.
Caixa Econômica Federal is one of the banks that will be approved to operate this type of FGTS Futuro financing. In addition, other banks may also join the system over the next few months.
Private establishments that comply with FGTS Futuro will have a period of three months to adapt to the rules and start offering this service to their clients. The new system is expected to benefit up to 11 million Brazilians.
