October birthday withdrawal is released by the FGTS

O birthday withdrawal is a benefit for those who work with a formal contract and are entitled to FGTS (Service Time Guarantee Fund). Thus, the worker can withdraw every year a part of the value of his accounts in the Guarantee Fund. Regarding the birthday withdrawal, he has up to two months after his celebration to withdraw this money from the account.

Read more: Do you have questions related to FGTS withdrawal? See some of the main

Adherence to the FGTS birthday withdrawal for October birthdays was released this Monday (3). The withdrawal will be available for three months, starting on the first working day of the worker's birthday month until the end of December. And under the two-month rule, the withdrawal is still available for August and September birthdays.

The birthday withdrawal is optional and migration to this benefit must be reported to Caixa Econômica Federal. Those who choose this modality are entitled to withdraw part of the balance of their FGTS accounts. Since its launch in April 2020, the birthday withdrawal has already been made by more than 21 million workers. In cash, the amount already exceeds more than R$ 31 billion injected into the country's economy. Under Law 13,932/19, the birthday withdrawal entitles the taxpayer to withdraw part of the balance of active and inactive FGTS accounts annually.

Last year, 9.8 million people chose to withdraw the money, and in 2020 there were 9.7 million. These withdrawals can be made from the FGTS application, through Caixa's website or through internet banking, with no need to go to a bank branch to carry them out. Those who do not opt ​​for this modality continue in the standard withdrawal-termination system.

Here are the differences between the modalities:

• birthday withdrawal: It is an optional modality, where every year, in the taxpayer's birthday month, he can withdraw part of his FGTS balance. If the worker is fired, he is entitled to withdraw only the amount referring to his termination fine (the 40% fine paid by the company) and it is not possible to withdraw the full amount from the account.
• Withdrawal-termination: In this modality, when the worker is dismissed without just cause, he is entitled to a full withdrawal from his FGTS account, also including the termination fine, when due. This is the taxpayer's default modality when he starts contributing to the FGTS.

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