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Discover In Which Situations You Can Withdraw Your FGTS, Such As Dismissal Without Just Cause, Acquisition of Your Own Home, and New Options Like Anniversary Withdrawal and Amortization of Housing Financing Debts.
The FGTS (Guarantee Fund for Length of Service) is an important labor right, but many people do not know exactly when and how they can access this money.
Although the fund is best known for its use in cases of dismissal without just cause or acquisition of one’s own home, it can also be accessed in various other situations, such as in cases of serious illnesses or natural disasters.
Additionally, with the creation of the anniversary withdrawal, workers can now withdraw part of the FGTS annually, a new possibility for those seeking more flexibility in using the resource.
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In this article, we will explore all the FGTS withdrawal options and detail the amortization of housing financing debts, one of the most common ways to use this fund to ease financial life.
When Can I Withdraw FGTS?
The FGTS was created to protect workers in various situations, providing a financial reserve that can be used in specific cases.
See below the situations in which it is allowed to withdraw your FGTS balance:
1. Dismissal Without Just Cause
One of the main reasons workers can access their FGTS is dismissing without just cause.
When the company decides to terminate the employment contract without a serious reason, the employee is entitled to withdraw from the fund, in addition to other severance payments.
2. Acquisition of One’s Own Home
The FGTS can be used to assist in the acquisition of a property, whether for the purchase of one’s own home or to pay down the outstanding balance of a real estate mortgage.
This is one of the most popular ways to use the fund, as it can significantly reduce the amount of payments or even pay off part of the financing.
3. Amortization of Housing Financing Debt
In situations of financial difficulty, you can use your FGTS balance to amortize a housing financing debt.
This option allows you to reduce the amount of payments and even pay off part of the outstanding balance, especially in cases of default.
4. Serious Illnesses
If the worker or their dependents are diagnosed with serious illnesses, such as cancer, it is possible to withdraw the FGTS.
This helps ensure greater financial tranquility while treatment is ongoing.
5. Natural Disasters
In situations of natural disasters, such as natural disasters, where the worker needs immediate financial assistance, the FGTS can also be released.
This measure aims to provide quick and effective support to those facing extreme difficulties.
6. Three Consecutive Years Without Formal Employment
If the worker is three consecutive years without a formal job, they can request to withdraw their FGTS.
This occurs due to the lack of regular deposits by an employer.
7. Death of the Holder
If the FGTS holder passes away, their legal heirs may request to withdraw the available balance.
This benefit ensures that the fund is directed to the family, helping to minimize financial difficulties during times of loss.
8. Retirement
Upon retirement, the worker is also entitled to the full withdrawal of their FGTS.
This is a guaranteed right that can help supplement retirement income.
9. Termination Due to Mutual Fault or Force Majeure
When the employment contract is terminated due to mutual fault (error from both the employee and employer) or due to force majeure (unforeseeable circumstances that prevent the continuity of work), the worker is entitled to withdraw from the FGTS.
10. Anniversary Withdrawal
Recently introduced, the anniversary withdrawal allows workers to withdraw part of their FGTS balance every year, in the month of their birthday.
This withdrawal is optional and offers more financial flexibility, but to do so, it is necessary to opt for this modality.
11. Suspension of Casual Work for More Than 90 Days
Casual workers, that is, those who do not have a fixed employment relationship with a company, can withdraw their FGTS if they are more than 90 days without work.
This withdrawal helps ensure a financial reserve for those who depend on intermittent work.
12. Aged Over 70 Years
From 70 years of age, workers can withdraw their FGTS balance, regardless of any other factors.
This measure aims to provide extra security to those in retirement.
13. End of Fixed-Term Contract
When the employment contract has a fixed term and ends without the possibility of renewal, the worker can withdraw their FGTS.
Anniversary Withdrawal: A New Option for Flexibility
Introduced in 2020, the anniversary withdrawal allows workers to withdraw part of their FGTS each year in the month of their birthday.
This modality was created to provide more financial freedom to workers, allowing them to better plan their finances.
The amount released depends on the balance of the FGTS account and the percentage table defined by Caixa Econômica Federal.
Therefore, it is important to evaluate the financial situation and choose the best option, considering job stability and the need to access the fund in case of termination.
Amortization of Housing Financing Debt
One of the most advantageous possibilities for using the FGTS is to amortize or pay off housing financing debts.
If you have a mortgage for your own home, you can use the FGTS balance to reduce the amount of payments or even pay off part of the outstanding balance.
This procedure can be done once every two years and helps relieve finances, especially in cases of default.
The amortization with FGTS can be requested directly from Caixa Econômica Federal, and the amount will be applied to reduce the outstanding balance, potentially resulting in lower payments or even paying off the mortgage.
This resource is an excellent way to maintain your home and reduce the burden of debts, without having to turn to other forms of credit.
The FGTS is a valuable resource for workers in various situations of professional and personal life.
Knowing when and how to use it can help relieve debts, buy one’s own home, or even ensure greater tranquility during retirement.
With new options like anniversary withdrawal and the possibility to amortize housing financing debts, workers have more flexibility and control over this resource.
However, it is essential to be aware of the rules and choose the best option according to current financial needs.
Source: Jornal Contábil
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