Caixa Econômica Federal reported that it completed, on Tuesday (24), the processing of the distribution of R$ 427,629,913 million of the 2020 net income of the Employment Compensation Fund (FGTS) in Paraná.
The total amount will be distributed in over 11.8 million active and inactive FGTS accounts of workers in the state. Eligible citizens can receive the deposit until the end of August.
According to Caixa, the credits were made to all workers participating in the Fund, who had a balance on December 31, 2020, adding that the deposits were made more than a week before the regulatory deadline.
- Who is entitled, when they can withdraw, what is the FGTS income? See QUESTIONS AND ANSWERS
The institution reported that, in practice, for every R$100 in the worker’s linked account, R$1.86 was credited.
The receipt of part of the FGTS profit by workers does not change the rules for withdrawing values.
Withdrawals can only be made under the conditions established by law, such as dismissal, retirement, birthday withdrawal, home purchase, among other withdrawal modalities.
On the 17th, the Board of Trustees of the Employment Guarantee Fund (FGTS) approved the transfer of R$8.12 billion to more than 191 million FGTS accounts, active and inactive in Brazil. The value represented 96% of the profit recorded by the fund in 2020.
FGTS distributes BRL 8 billion in profit to workers
See below questions and answers about the FGTS and profit distribution:
Workers can check the FGTS balance and the credit amount on their linked account statement in the following ways:
- through the FGTS application;
- on the CAIXA website (fgts.caixa.gov.br);
- at CAIXA Internet Banking, for the bank’s customers.
Caixa also provides the following contact telephones: 3004-1104 (capitals and metropolitan regions) or 0800-726-0104 (other regions).
How much did each worker receive?
The transfer of R$ 427.6 million in Paraná was distributed proportionally to the balance of the linked accounts on December 31, 2020. The higher the balance, the greater the profit received.
The index applied to the balance of accounts as of December 31 was “0.01863517” or 1.86%.
FGTS app from Caixa — Photo: Fabiana Figueiredo/G1
How was the annual income?
By law, the FGTS has a yield of 3% per year. Every 10th, FGTS accounts receive monthly monetary restatement.
Since 2017, however, workers have also received part of the Guarantee Fund’s profits, which result from the interest charged on loans for infrastructure, sanitation and homeowner loans. The distribution improves the return on the resources deposited in the fund.
With the distribution of 96% of last year’s profit, the FGTS had a total return of 4.92% in 2020, against a 4.52% variation in inflation measured by the IPCA last year. The FGTS income was also above savings, which yielded 2.11% last year and ended 2020 with a real negative return (discounted for inflation) of 2.30%.
In 2019, considering the additional profit distribution paid, the yield was 4.90%. In 2018, it reached 6.18%.
In 2017 and 2018, the distribution of profits caused the profitability of the FGTS to be above inflation, but below the savings account gains. See table below:
Comparison of FGTS profitability in recent years — Photo: Disclosure / FGTS Curator Council
And who did you get the FGTS for?
Although it is paid in August 2021, the income is for 2020. Thus, deposits will be made considering the value in the accounts on December 31, 2020. Whoever cashed after that (for being fired or for home purchase, for example), does not lose income.
Those who made withdrawals before the turn of the year will only receive in proportion to the money they had in their account on the last day of last year.
When is withdrawal allowed?
- On unfair dismissal;
- At the end of the contract for a specified period;
- Upon termination of the contract for total extinction of the company; suppression of part of its activities; closing of any of its establishments, branches or agencies; death of the individual employer, domestic employer or decree of nullity of the employment contract;
- Upon termination of the contract due to reciprocal fault or force majeure;
- Upon termination by agreement between the employee and the company. In this case, he is entitled to withdraw 80% of the FGTS account balance;
- In retirement;
- In the event of a personal, urgent and serious need arising from a natural disaster caused by rain or floods that have hit the worker’s area of residence, when the emergency situation or state of public calamity is recognized as such, by means of a government ordinance federal;
- In the suspension of independent work for a period equal to or greater than 90 days;
- Upon the worker’s death;
- When the linked account holder is 70 years of age or older;
- When the worker or his dependent is HIV positive;
- When the worker or his dependent has cancer;
- When the worker or his dependent is in a terminal stage, due to a serious illness;
- When the worker remains for 3 uninterrupted years outside the FGTS regime (without a formal job), with leave from 07/14/1990, and the withdrawal, in this case, can be made from the month of the holder’s birthday account;
- When the linked account remains for three uninterrupted years without crediting deposits and the worker’s absence has occurred until 07/13/1990;
- For the purchase of a home, debt settlement or amortization or payment of part of the housing financing installments granted under the SFH – in this case, it is necessary to have 3 years under the FGTS regime; not hold any other funding under the SFH; not owning another property;
- In amortization, settlement of the debit balance and payment of part of the installments acquired in consortium real estate systems.
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 case of unfair dismissal, the so-called withdrawal withdrawal. Understand how it works.
Who is entitled to the FGTS?
Workers governed by the CLT, rural workers, domestic workers, temporary workers, independent workers, saffron workers (rural workers who only work during the harvest period) and professional athletes are entitled to the FGTS.
The fund 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.
The FGTS is not deducted from the salary, as it is an obligation of the employer. The amount is paid on salaries, allowances, bonuses, tips, prior notice, commissions and 13th salary. It is a kind of forced saving that the employer makes for the worker.
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. When the date does not fall on a business day, the payment must be brought forward to the immediately preceding business day. If the employer deposits after maturity, the amount must receive interest and monetary correction.
For apprenticeship work contracts, the percentage is reduced to 2%. In the case of domestic workers, the payment corresponds to 11.2%, being 8% as monthly deposit and 3.2% as early payment of termination.