Complete Guide: How to Withdraw FGTS in a Simple and Quick Way
You've probably heard of the FGTS, or Service Time Guarantee Fund, as it is known in full.
But, do you know how to withdraw FGTS quickly and simply? In this complete guide, we will clarify all doubts about the FGTS, how it works, who can obtain the withdrawal and what the benefits of this labor right are.
So let's start!
What is the FGTS?
The Service Time Guarantee Fund, FGTS, is a right for every worker with a formal contract in Brazil.
It was created in 1966 with the aim of protecting employees in cases of unfair dismissal, in addition to being a form of forced savings that can be used at important moments in life, such as purchasing your own home.
How does FGTS work?
Monthly Deposits: The FGTS is made up of monthly deposits made by the employer into a bank account linked to the worker. The amount deposited corresponds to 8% of the employee's salary and is made in a separate account and cannot be moved freely.
Monetary Update and Interest: In addition to monthly deposits, the FGTS is monetarily updated and earns interest over time, which causes the account balance to grow gradually.
FGTS Benefits
The FGTS offers several benefits to Brazilian workers. Here are some of the main ones:
1. Security in the event of dismissal: In case of unfair dismissal, the worker has the right to withdraw the full amount of the FGTS, which can serve as a kind of “financial cushion” while looking for a new job.
2. Acquisition of your own home: One of the most common ways to use FGTS is to buy your own home. The FGTS balance can be used as part of the payment or to pay off part of the real estate loan.
3. Study Financing: In some specific situations, it is possible to use the FGTS to finance the studies of the worker or their dependents.
4. Treatment of Serious Illnesses: In cases of serious illness, the worker or their dependents can request withdrawal from the FGTS to pay for medical treatment.
5. Retirement: When the worker retires, he can withdraw the full FGTS balance, which can be useful to supplement his income in retirement.
Who Can Get FGTS Withdrawal?
Now that we understand how the FGTS works and what its benefits are, let's talk about who can get the withdrawal. There are several situations in which FGTS withdrawal is permitted, including:
1. Dismissal without Just Cause: If you are fired without just cause, you have the right to withdraw the full FGTS balance from the account linked to your old job.
2. Buying your own home: If you are purchasing your first home, you can use the FGTS to make part of the payment or to deduct the outstanding balance of the mortgage.
3. Retirement: When you retire, you can withdraw the full FGTS balance, which can be important financial assistance at this stage of life.
4. Cases of Serious Illness: In situations of serious illness, the worker or their dependents can request withdrawal from the FGTS to pay for medical treatments.
5. Situations of Public Calamity: In cases of natural disasters or epidemics, the government may authorize emergency withdrawals from the FGTS to assist those affected.
How to Withdraw FGTS in a Simple and Quick Way
Now that you know who can obtain the FGTS withdrawal and understand the benefits of this labor right, we will explain how to make the withdrawal simply and quickly.
The process varies depending on the situation:
1. Dismissal without Just Cause: If you have been fired without cause, the process is relatively simple. You can go to a Caixa Econômica Federal branch or a Caixa Aqui correspondent with the following documents:
- Identification document (RG, CNH, etc.);
- Work card;
- Citizen Card or PIS/PASEP number;
- Card or account statement linked to the FGTS.
Withdrawals can be made at the Caixa service desk or at ATMs, if preferred.
2. Buying your own home: If you intend to use the FGTS to purchase property, you must present the necessary documentation to the bank or financial institution responsible for financing. They will take care of the necessary procedures to complete the withdrawal.
3. Retirement and Serious Illnesses: In these cases, it is necessary to contact Caixa Econômica Federal and follow the specific procedures for withdrawing the FGTS. Medical documentation may be requested in the case of serious illnesses.
4. Public Disaster Situations: When the government authorizes emergency withdrawals, it establishes specific rules and deadlines for requesting the benefit. Pay attention to the information released by Caixa and the government to find out how to proceed.
It is important to highlight that the process can be speeded up if you have a Citizen Card, as it allows withdrawals from ATMs and lottery outlets, avoiding queues at bank branches.
Conclusion
The FGTS is an important right for Brazilian workers, providing financial security in times of dismissal, helping to acquire a home and offering support in situations of serious illness or retirement.
