A new benefit has been approved for formal contract workers, this is a new method of Severance Compensation Fund (FGTS). Each month, employers deposit an amount equivalent to 8% of the employee’s salary into an account at Caixa.
This amount can only be withdrawn in specific cases, and its main objective is to ensure financial support for Brazilian workers dismissed without just cause. Another option is to refund part of the balance of active and inactive FGTS accounts in the month of the worker’s birthday.
It also allows withdrawal in cases of serious illness of the worker or his dependents, in the case of buying a house, retirement and withdrawal of heirs. The new rule covers real estate financing, in the so-called FGTS Futuro or FGTS Consignado and could benefit more than 11 million people.
A new rule for workers with an official contract
Fundo de Garantia’s new rule creates the FGTS do Futuro method, which aims to help reduce the value of mortgage payments, especially for people who are unable to make a down payment and bear all the costs involved with a line of credit for buying a home from the government’s housing program. Federal.
It will work as follows, the factor is bound by the amount they will still receive from FGTS to pay off the property finance installments. But to join the method, you will need to have a gross monthly income of up to R$2,400 and finance only one property in your name. In this way, a larger amount can be entered, thus reducing the total remaining installments.
However, there are risks that need to be taken into consideration before joining the method. The interest rate on this type of credit is usually very high, and another point that needs to be analyzed is the possibility of chapter. In the latter case, the person will not be able to withdraw the FGTS and will not be able to use the guarantee fund to pay part of the financing.
It will be necessary to renegotiate the entire process of paying the monthly fee so that the debt does not accumulate due to the delay, because the financing is not canceled. The procedure works in a similar way to payroll, where the person has to find another way to pay the line of credit.
See also: Is FGTS birthday withdrawal good or bad for a citizen? Check out the pros and cons
When will it be possible to join FGTS do Futuro?
According to information from the federal government, the method will only be available within 90 days, starting in April. Financing will be provided in several banks, such as Caixa Econômica Federal. Private establishments that wish to provide the service to their customers will have three months to comply with the rules.
Currently, most housing program funding is denied due to insufficient income, so it is expected that more applications will be approved by the FGTS do Futuro, which is optional for formal contract workers.
See also: FGTS 2023: Find out when it will be possible to withdraw from now
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