This is a method introduced by the Brazilian Federal Government where workers who choose this system are entitled to withdraw part of the balance of their FGTS (Guarantee Time in Service Fund) accounts annually, in the month of their birth. This option seeks to enable an increase in the worker's income.
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For 2024, the Department of Labor has a proposal that would allow workers who opted for an annual withdrawal to be able to withdraw the lump sum from their FGTS accounts instead of only being limited to taking advantage of the severance penalty.
The ability to change the rules could give workers greater access and control over their resources deposited in the FGTS.
Christmas cash offers some benefits to workers, such as:
- Obtaining an additional amount of money annually, which can be used for various purposes, such as paying off debts, investing, or achieving dreams.
- Greater flexibility for the worker, as he can withdraw the withdrawal amount in his birth month according to his needs.
By joining the Christmas draw, the worker loses the right to withdraw the entire amount of FGTS in the event of unfair dismissal. In this case, the worker will only be able to withdraw a termination penalty of 40% of the balance deposited by the employer.
What should you consider before choosing a system?
Although the possibility of annual withdrawal may be tempting, it is essential to remember that the purpose of the FGTS is also to act as a financial reserve in the event of unfair dismissal, in addition to being able to use it in situations such as the purchase of your own home, serious illness, retirement, among others. Other.
Therefore, before choosing a Christmas withdrawal, it is recommended that workers carefully analyze their financial needs and plans, taking into account the advantages and disadvantages of the available withdrawal options, to make an informed decision that best meets their needs.
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