Learn how to withdraw your FGTS balance
Learn all about how to withdraw your FGTS balance and see if you're eligible. Read the text to the end and learn everything you need to know!
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The Service Time Guarantee Fund, FGTS, was created by the government to protect the rights of workers who are unfairly dismissed, through an account linked to the employment contract.
Therefore, the employer is required by law to deposit 8% of the employee's salary into this account, which is always opened at Caixa Econômica Federal.
It's a welcome extra cash for those in need, and it will boost the economy. Continue reading this article to learn everything you need to know about withdrawing your FGTS balance.
Who is entitled?
First of all, all workers who are governed by the Consolidation of Labor Law, CLT and had an employment contract signed on their work card from 10/05/1998 onwards have the right to withdraw the FGTS balance.
See here a list of workers who have access to the benefit:
- Rural;
- Intermittent;
- Temporary;
- Loose;
- Harvesters;
- Professional athletes;
- Domestic;
- Directors of companies and foundations who are not working.
How to withdraw the FGTS balance?
The release of the FGTS balance in 2020 covers all accounts that are receiving the deposit from the current job, as well as inactive accounts.
But what then? How do I know if I have FGTS to receive??
Of course, for people who have not yet withdrawn the payment of R$500.00 that began in September 2019, the deadline for withdrawal is March 31, 2020.
Therefore, to be able to withdraw your FGTS balance you will have to go to a lottery shop with your personal documents and citizen card, or go to a branch.
Brazilians who have a checking or savings account at Caixa Econômica Federal will receive their balance directly into their account.
How to withdraw your FGTS birthday balance?
The anniversary withdrawal will allow the worker to withdraw the FGTS balance, annually in the month of his/her birthday. To be entitled to this withdrawal, it is necessary to opt for this modality.
Finally, in 2020, payments will begin, which will be the percentage of the FGTS, plus an annual installment.
It is worth noting that when choosing this option, the worker is not allowed to make a full withdrawal from the account due to dismissal.
However, all other withdrawal options will be granted, including the termination fine.
| FGTS balance in R$ | Amount receivable | Additional installment in R$ |
| Up to R$ 500.00 | 50% of the balance | R$ 0.00 |
| R$ 500.01 to R$ 1,000.00 | 40% of the balance | R$ 50.00 |
| R$ 1,000.01 to R$ 5,000.00 | 30% of the balance | R$ 150.00 |
| R$ 5,000.01 to R$ 10,000.00 | 20% of the balance | R$ 650.00 |
| R$ 10,000.01 to R$ 15,000.00 | 15% of the balance | R$ 1,150.00 |
| R$ 15,000.01 to R$ 20,000.00 | 10% of the balance | R$ 1,900.00 |
| Above R$ 20,000.01 | 5% of the balance | R$ 2,900.00 |
You can check your balance whenever you need through Caixa's official website.
Take advantage and also learn about the Caixa Credit Card for those with bad credit!
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