FGTS profit released, see your balance, what day you receive it and how to withdraw

The Board of Trustees of the Employment Guarantee Fund (FGTS) approved the distribution of R$8.13 billion of the 2020 profit to workers. With this distribution, the annual guarantee fund’s profitability closes at 4.92% — a rate that closes higher than the inflation accumulated last year and the savings income in the same period.

The amounts will be distributed proportionally according to the balance that each worker had in account in the FGTS on December 31, 2020.

Who is entitled to FGTS profit?

The FGTS profit is the right of every worker who had money in the guarantee fund account on December 31, 2020. Even if the worker has withdrawn the entire amount on January 1, 2021, he will be entitled to this profit.

The amount each worker will receive varies according to the balance available in the guarantee fund on December 31 of last year, so the higher the balance, the greater the profit received.

For the worker who is able to identify the balance he had of FGTS on December 31, just multiply this balance by “0.01863517”, which was the transfer rate defined by the Board of Trustees. Thus, for every R$100 that the worker had in balance, he will receive R$1.86.

The greater the balance in that period, the greater the amount to be received. Thus, the index to be applied on the balance of accounts on December 31st will be “0.01863517”, ie, 1.86%. In short, for every R$100 that the worker had in account, he will receive R$1.86.

Check out some simulations of values:

Balance on December 31, 2020Amount receivable from FGTS profit
BRL 1,000BRL 18.64
BRL 2,000BRL 37.27
BRL 3,000BRL 55.91
BRL 4,000BRL 74.54
BRL 5,000BRL 93.18
BRL 10 thousandBRL 186.35
BRL 20 thousandBRL 372.70
BRL 50 thousandBRL 931.76
BRL 100 thousandBRL 1,863.52

When will the FGTS profit be deposited?

The FGTS profit will be deposited for workers until August 31, 2021. According to Caixa, from that date onwards workers will be able to consult the credit amount through the FGTS statement, through the following platforms:

The money will be automatically deposited in the worker’s account, and after payment, in the FGTS statement, the released profit will be shown as “cred dist result base year 12/2020”.

Can I withdraw the values?

Not! This is because the FGTS profit will be deposited directly in the guarantee fund accounts, therefore, it will be obeyed the traditional rules of the program, where it is possible to receive the FGTS in case of unfair dismissal, or for the purchase of a property, for example.

Is the profit paid equally every year?

Not! The distribution of the FGTS profit started in 2017, with the profits of the previous year. The yield then went through some variations, such as in 2016 it was 7.14%, 2017 5.59% and so on.

Last year the government distributed the equivalent of 66.2% of the FGTS profit, for this year the distribution reached 96%.

Understand the FGTS

The FGTS was created with the objective of protecting the worker fired without just cause, by opening an account linked to the employment contract. Thus, the worker can have more than one FGTS account, including the current and previous jobs.

By the 7th of each month, employers must deposit in accounts opened at Caixa Econômica Federal, on behalf of employees, the amount corresponding to 8% of each employee’s salary. In addition, if the date does not fall on a working day, the collection must be anticipated and never postponed.

When the worker is dismissed without just cause, he is entitled to receive the balance of the FGTS that was deposited by the employer during the term of the employment contract plus a 40% termination fine on top of this total amount.