Caixa finalizes payments of FGTS profit; check where to look or how to calculate the value

FGTS Application

(Disclosure)

SAO PAULO – Caixa Econômica Federal reported that it has finished processing the distribution of R$ 8.1 billion from the 2020 net income of the Severance Indemnity Fund (FGTS) this Tuesday (24). Credits were made to all workers who had a balance in the fund’s account on December 31, 2020.

Initially, payments were expected to extend until August 31st.

The payments started last week, following the approval of the distribution by the FGTS Board of Trustees, on the 17th. more than 191 million active and inactive accounts. Together, these accounts added up to a balance of R$ 436.2 billion.

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According to Caixa, for every R$100 held in the worker’s restricted account, R$1.86 was credited. With the distribution of results, the total profitability of the FGTS in 2020 reached 4.92%. This return includes the fund’s traditional remuneration, which is 3% per year plus the variation of the Referential Rate (TR), in addition to the profit distributed – which is equivalent to an additional gain.

In 2020, inflation measured by the IPCA (Broad Consumer Price Index) was 4.52%. It means that, in the period, the FGTS had a real profitability – above inflation – of approximately 0.4%.

The amount referring to the distribution of results may be withdrawn in the same situations in which the FGTS redemption is allowed, such as in cases of unfair dismissal, purchase of property, withdrawal-birthday, retirement, among others.

There are some ways to check the credit amount on the FGTS account statement: through the FGTS application, on the Caixa website, on the FGTS website or on Caixa’s internet banking, for bank customers.