FGTS Profits: see if you are entitled!

Have you heard about FGTS profits? Do you know what this period means and who is entitled to it? Come and find out more with us!

If you are someone who is always keeping an eye on the news – whether on TV, radio or even on the various news portals spread across the internet – you may have noticed a buzz that has recently started around the FGTS.

Called FGTS profits, this topic has caught the attention of Brazilians who are interested in learning more about the topic and, mainly, to find out whether they meet the requirements to participate in the distribution of this benefit.

And since we know that a little extra money is always welcome, we decided to talk about this topic in today's content! 

Here, you will stay up to date with the main information about the benefit, understand what it represents for Brazilian citizens and, of course, help you find out if you are also part of the list of workers who can receive this amount!

What is FGTS?

Even though it is a benefit granted to millions and millions of Brazilian workers, we think it would be interesting to talk a little about what it is and what it represents.

The Severance Pay Guarantee Fund (FGTS) is one of the discounts that represent one of the worker's rights. Designed to offer assistance to employees who are dismissed without just cause, the FGTS consists of a discount of 8% from the worker's salary. 

This amount is deposited monthly by the employer into the employee's FGTS account. This amount can be accessed by the employee in certain situations, such as unfair dismissal or through an agreement between employer and employee, for example.

What are FGTS profits? Understand what this benefit is 

Now that we are all on the “same page” regarding what this benefit represents in the lives of Brazilian workers, it is time to talk about what really matters: FGTS profits.

Although it is something that has been on the rise in recent months, anyone who thinks that FGTS profits are recent is mistaken.

This is because the payment of this modality was initiated in 2017 to strengthen the Fund's profitability, the distribution of profits occurs once a year and is made, at the latest, by August 31st. And for those who are still a little confused about the origin of this money, know that the FGTS profits come from FGTS financial operations, such as loans and financing. Across the country, R$13.2 billion will be distributed.

Who is entitled to FGTS profits?

I bet you are at least curious to know if you are one of the workers who are entitled to FGTS profits, right?

After all, if there's one thing everyone likes, it's extra money that comes as a surprise in life!

Please note that, in order to be entitled to the profit, you must have a balance in your FGTS accounts on December 31, 2022. The profit will be released in 2023, even for workers who have withdrawn all the amounts from the Guarantee Fund.

This means that the higher the worker's balance, the more entitled he or she is to higher amounts of FGTS profit.

As for the amounts received, it's kind of hard to say. After all, as we've already mentioned here, this amount goes through a monetary correction before being returned. And this correction hasn't been announced yet so we don't know how it will work.

When will FGTS profits be released? Understand how payment dates and amounts of FGTS profits will work

Another point that generates a lot of doubt among workers is when FGTS profits will be released. 

Please note that, as everything indicates, the Federal Government has until August of this year to pass on to workers the profit obtained from the interest charged on loans granted by the fund to the Government.

This is because the government uses the money from your FGTS – which is idle – to invest resources to finance infrastructure and basic sanitation projects in the country.

It's like a type of loan.

And to compensate for this “loan”, the government carries out a monetary correction which would be like a type of interest payment for the use of resources.

In other words: by all indications, the Federal Government will make these payments by August 31, 2023.

How will the withdrawal of this amount work?

Finally, let's talk a little more about the conditions for withdrawing FGTS profits.

If you have ever had the opportunity to withdraw your FGTS, you know that workers need to meet some special conditions. And this also applies when we talk about this profit. Below, we have listed some requirements that allow you to withdraw the amount:

Dismissal without just cause; 

Termination by agreement between employer and employee; 

Buying your own home; 

Complementary payment for property purchased through a consortium; 

Complementary payment for property financed by the SFH (Housing Finance System); 

Termination due to the end of a fixed-term contract; 

Termination due to mutual fault (employer and employee) or force majeure; 

Termination due to retirement; 

In case of natural disasters; 

If a casual worker, employed through a professional association, is suspended for a period equal to or greater than 90 days; 

Workers aged 70 or over; 

Workers or dependents with HIV; 

Workers or dependents diagnosed with cancer; 

Workers or dependents who are in the terminal stage due to a serious illness; 

Employees who have not worked with a formal contract for three or more consecutive years; 

Conclusion

So, are you already aware of what FGTS profits mean and what they represent for the worker's life?

Now that you know about this benefit, I bet you're even more excited to receive this amount, right?

This is because, no matter how small the amount resulting from these FGTS profits, I believe that any amount will give you a boost and will help you close the month in the black or even allow you to carry out that personal project, such as a trip, a renovation or acquiring something you've been wanting.

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