Brazilians are in shock at the government’s decision on FGTS

Christmas withdrawal fgts (Service Time Guarantee Fund) for workers born in March began on Wednesday (1), but this may be the last month in which withdrawals are authorized.

This is because the Minister of Labor and Employment, Louise Marinho, has been publicly campaigning to end the method, which allows a worker to withdraw part of the FGTS once a year. According to the file, this exposes the worker to the risk of not being able to withdraw the largest amount from the account when he is dismissed from work for a valid reason, and withdrawing his financial guarantee, in addition to harming the union, as the fund’s resources are used. To finance other social services.

The topic will continue to be discussed at the FGTS Board of Trustees meeting and this will take place in March. Therefore, this may be the last month that the method accepts withdrawals.

The initial idea championed by the government is that even workers who have already anticipated a Christmas withdrawal with Caixa through a payroll loan would be able to withdraw severance, should they be fired, from March. This or other information will not be confirmed until after the Board’s decision.

How is FGTS birthday currently withdrawn?

Today, layoffs are made from the date of birth of the worker. To find out if you qualify, just refer to the FGTS app (available for Android and iOS). If available, you will need to indicate a bank account to receive the payment and wait five business days.

The FGTS birthday draw is also optional. The worker chooses whether to want this method or remain in the termination of the withdrawal, with FGTS available in the event of dismissal without just cause.

In a birthday withdrawal, the worker can withdraw up to two months after the month of his birthday. The installment amount ranges from 5% to 50% of the balance, depending on the amount available in the account.

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