Withdrawal from the Severance Indemnity Fund (FGTS) for August birthdays is now available. Workers who opted for this modality redeemers are entitled to only one withdrawal per year, but that can be made up to two months after the citizen's birthday.
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This FGTS looting modality was inaugurated in 2020 and has already been used by more than 21 million Brazilians, but it is not mandatory. It was instituted with the application of Law 13.932/19, which allows the worker to withdraw a portion of the balance of active and inactive accounts from the guarantee fund in the respective month of his birth.
In 2021, almost 9.8 million workers opted for this way of redeeming these values. As of 2020, only around 9.7 million people have joined the loot. Membership is optional and can be done virtually through the FGTS application or website, although Caixa's internet banking is widely used.
The redemption in question is available from the first business day of the professional's birthday month, i.e., payments for that month began on Monday, the 1st. As the deadline for withdrawing the amount is up to two months after the birthday, those born in August will have access to the money until October 31st.
Birthday Withdrawal Rules
According to this modality, the worker can make a withdrawal per year of part of the present value in the guarantee fund accounts according to the month in which he was born, but he loses the right to withdraw the total balance of his FGTS account if he is dismissed fairly cause.
Therefore, he is only entitled to a termination fine corresponding to 40% of the value of the fund.
The formalization of the migration request for this type of withdrawal must be done by the last day of the birthday month, otherwise the worker will only be entitled to the annual installment of the birthday withdrawal in the year Following.
Value withdrawal limits
The withdrawal amount corresponds to a percentage of the available balance in the worker's account. The greater the balance in the account, the smaller the percentage allowed to be withdrawn. For example: an account has a $500 balance. 50% of the amount will be released. In accounts with a balance above BRL 20,000, only 5% is released.
