FGTS funds must be paid by August 31st

a Board of Trustees From the Severance Indemnity Fund (FGTS) R$ 12 billion will be distributed to quota workers in 2023. Those who have a balance in their account until December 31 of last year will benefit.

Funds must be deposited by the end of August. The values that are passed to each worker are different depending on what they already had in FGTS.

It remains for the Board of Trustees to decide, on July 25, on the distribution of funds. The numbers can reach nearly R$13 billion.

During the Michel Temer government, in 2017, FGTS started distributing profits to workers. That year, 50% of the fund was set aside for distribution. In 2019, the federal administration raised it to 100% – but then it came back.

Who is entitled to FGTS?

Workers who have accounts linked to the FGTS (whether active or inactive) are entitled to the benefit. Payment is made by August 31 for those who had a balance until December 31 of the previous year.

How is the severance pay fund paid?

Money is paid by Caixa Economica Federalwho manages the fund. Looting is only allowed if the person meets the requirements set forth in the law, such as unfair dismissal, retirement, home purchase, and serious illness, for example.

The worker hired by a company will have an open linked account. There, he needs to monitor and collect the balances to be deposited. The values can also be referenced online. Simply download and register with the FGTS app.