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Changes to FGTS Birthday Withdrawal Anticipation rules Announced

The government announced measures that will change, from November⁢ 1st, the rules for anticipating the so-called anniversary withdrawal from the Service Time Guarantee Fund (FGTS). The worker⁤ who joins the birthday withdrawal can advance the ‍benefit through banks, like a loan. Now, there will be deadline restrictions⁢ and a grace period.

According to the government, the change aims to prevent abuse against⁢ workers who take out loans to anticipate their birthday withdrawal, paying interest. The argument is that FGTS money should go directly to the worker, not to the financial system. The use of the balance as a loan guarantee ‍has led many Brazilians to vulnerable situations in cases of dismissal,according to the government.

Currently, 21.5 million workers have joined the birthday withdrawal,equivalent to 51% of active accounts. Of these, around 70% have already carried out advance operations.

Check out the main changes ‍to the rules below:

What is the FGTS Birthday Withdrawal?

Since 2020,the anniversary withdrawal of the FGTS allows workers to withdraw part of the balance from their accounts linked to the fund annually, always in the month of their birthday. To do this, the beneficiary must sign up for the withdrawal, through the FGTS ⁢application ⁤or website.

the amount to be withdrawn depends on the ⁣total balance available⁤ in the fund account. On top of this amount, a tax rate is applied, plus an additional fixed installment. However, the worker who opts for this modality loses the‍ right to withdraw the full balance in the event of unfair dismissal, retaining only the right to a 40% termination fine.

How Does the Anticipation of the FGTS Birthday Withdrawal Work?

Anticipating the birthday withdrawal works like