The withdrawal-birthday option of the Severance Indemnity Fund (FGTS) has already had the adhesion of BRL 12.9 million workers until August this year, totaling BRL 16.5 billion in redemptions, according to a balance sheet released by the Ministry of Economy.
The withdrawal-anniversary was created in 2009, but effectively began in April 2020. Through this modality, the worker can withdraw part of the value of the Guarantee Fund accounts per year, according to the month in which he/she was born. It also makes it possible to offer part of the FGTS resources as collateral for loans
In 2021 alone, there were 5.2 million subscriptions to the modality and 10.3 million withdrawal operations were carried out, with the release of R$ 8.1 billion.
The value already almost equals the volume withdrawn in 2020. Last year, redemptions totaled R$8.4 billion, with an average withdrawal of R$1,178 per worker. In 2021, the average withdrawal value is 787 per worker.
For this year, withdrawals in the amount of approximately R$ 12 billion are expected, according to the government.
Specialist explains about withdrawal, anniversary and anticipation of the FGTS
According to Caixa Econômica Federal, currently around 83 million workers have accounts linked to the FGTS.
Modality represents 39% of withdrawal operations
According to the balance sheet, the withdrawal-birthday represented about 39% of withdrawal operations between January and August, with a monthly average of 1.3 million operations in the year. The modality represented 12% of the total amount withdrawn from the FGTS in the year.
In 2021, total withdrawals from FGTS accounts totaled R$66 billion.
Use in credit operations
Regarding the anticipation of the Withdrawal-Anniversary through credit operations, 7.4 million operations have already been carried out, moving a total of R$ 11.8 billion, between April 2020 and August 2021, which is equivalent to the average of R$ 2,020 per operation.
In practice, the shareholder anticipates withdrawals to which he/she would be entitled in the month of his/her birthday and the amounts are blocked for later transfer of funds to the creditor financial institution.
According to data from the Ministry of Economy, the exchange of unsecured personal credit for credit guaranteed by the FGTS withdrawal-anniversary receivables allows for a reduction of more than 40% in the cost of the loan.
Caixa provides service channels for workers with an active or inactive FGTS account to make the option. They are as follows:
- FGTS APP (the application is Caixa FGTS and is available for both Android and iOS devices)
- Caixa website page
Anyone who has a savings account or a checking account at Caixa or any other bank can request credit to an account.
Those who adhere to the birthday withdrawal can withdraw a part of the balance up to two months after the birthday month, but lose the right to withdraw the total balance from their FGTS account in the event of unfair dismissal, the so-called withdrawal withdrawal.
Workers must inform their choice of withdrawal by the last day of the month of their birthday to receive in the same year of membership. If the worker does not withdraw this resource, he automatically returns to his FGTS account.
The birthday withdrawal is only released to the worker who informs Caixa that he wants to receive the amounts annually. Otherwise, he will only be able to withdraw the FGTS in situations provided for by law, including home purchase, retirement and unfair dismissal – see all the situations here.
2021 cashout calendar
- Born in January – Drawings from January to March
- Born in February – withdrawals from February to April
- Born in March – withdrawals from March to May
- Born in April – withdrawals from April to June
- Born in May – withdrawals from May to July
- Born in June – withdrawals from June to August
- Born in July – withdrawals from July to September
- Born in August – withdrawals from August to October
- Born in September – withdrawals from September to November
- Born in October – withdrawals from October to December
- Born in November – Draws from November 2021 to January 2022
- Born in December – withdrawals December 2021 to February 2022
Option withdraws right to withdrawal withdrawal
The employee who opts for the birthday withdrawal will continue to be entitled to a 40% fine in case of dismissal, but will lose the right to withdrawal withdrawal, that is, he will not be able to withdraw the total balance from his FGTS account upon being dismissed.
In case of regret, the worker may return to withdrawal withdrawal. But the migration will only take place two years after the date of accession to the loot-birthday.
If the worker is dismissed while withdrawing the annual withdrawal, the account becomes inactive – the worker will not be able to withdraw all the funds from the account for that job, only the value of the 40% termination fine on the total value of the account. In other words, the withdrawal of the total amount will only be released immediately to the worker who is dismissed if he does not adhere to the annual withdrawal model.
In addition, if the employee is on his/her birthday and is dismissed, he/she may continue to withdraw the FGTS amounts annually. And, if you choose the anniversary withdrawal, you will continue to have the right to withdraw the FGTS balance for your home, in case of serious illness, retirement and death of the holder and for other cases provided for by law for withdrawal.
In the annual withdrawals from the FGTS there is a withdrawal limit. The annual withdrawal amount will be a percentage of the worker’s account balance. For accounts with up to R$ 500, 50% of the balance will be released, a percentage that will reduce the higher the amount in the account. For accounts with more than R$500, the withdrawals will be increased by a fixed installment. Therefore, shareholders with a lower balance will be able to withdraw higher percentages annually.
Limit of annual withdrawals from the FGTS — Photo: Reproduction/Ministry of Economy
For example: whoever has BRL 750.00 in the account receives 40% of BRL 750, which is BRL 300, plus the additional rate of BRL 50, totaling BRL 350. Anyone who has BRL 25,000 in the account receives 5% of R$25,000, which gives R$1,250, plus the additional rate of R$2,900, which gives a total of R$4,150. Those with R$100,000 receive 5% of R$100,000, which is R$5,000, plus the additional rate of R$2,900, which gives the total of R$7,900.00. As withdrawals are made, the balance decreases, increasing the amount that can be withdrawn.