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The Government is currently undertaking a new readjustment of the legislation relating to the Time in Service (FGTS) Guarantee Fund. This change will allow many citizens to access the full balance of their accounts. After the reform, the FGTS promises great benefit to thousands of workers.
What are the withdrawal methods from FGTS?
Currently, there are two ways to withdraw the amount from the account: termination withdrawal and annual withdrawal. The termination withdrawal is intended for workers who have been dismissed without just cause. However, during the year, this worker cannot make a withdrawal, unless he is in another eligible position.
The annual withdrawal, created in 2019 during the government of Jair Bolsonaro, allows the FGTS balance to be withdrawn once a year, in the month of the account holder's birth. However, in the event of unfair dismissal, the employee will have to wait until his or her birth month to access the amount in the account.
How to access FGTS balance?
To access the balance and conditions offered by the FGTS Fund, interested parties must download the “FGTS” application to their devices. Through the app, you can switch between the available options and plan the best way to make your withdrawal.
Workers born in February who joined the Christmas withdrawal method can now withdraw the total balance in their FGTS accounts. The wait is long for those born in March as they wait for the draw to be issued.
The future of withdrawal methods
The future of the annual withdrawal remains uncertain. There are expectations that it could be extinguished during the government of Luiz Inacio Lula da Silva, due to the lack of approval from the Ministry of Labor. But there is still no official confirmation of this information.
All planned changes to the FGTS are intended to benefit workers and make it easier to withdraw the available balance. For this reason, it is important for citizens to pay attention to the updates and adjust their withdrawal strategies if necessary.
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