What is FGTS and how do I know if I have a balance per application?

Workers registered with the CLT have the right to Severance Indemnity Fund (FGTS), a fund held by the government that can be withdrawn on some specific occasions, such as in cases of unfair dismissal, in the purchase of a property, among other situations.

Workers pay an established amount to the FGTS monthly, based on each individual’s gross salary — the bosses are responsible for depositing the money in the employees’ FGTS account, until the 7th of each month.

Thus, the money is accumulated and, depending on the situation, can be used by the worker.

What is FGTS?

The Time and Service Guarantee Fund was created in 1966 by the Federal Government in order to protect workers who are dismissed without just cause. The fund is a right of every worker with a formal contract, however, it is retained in accounts at Caixa Econômica Federal and can only be withdrawn under conditions established by law.

App FGTSFonte:  Google Play Store

At the beginning of each month, employers deposit 8% of employees’ salaries in Caixa accounts opened for the FGTS. In addition to those hired by the CLT, the right to FGTS is also valid for domestic, temporary, rural, intermittent, single workers, seasonal workers and professional athletes.

In addition, the fund may have several accounts, such as an active one referring to the worker’s current job and another inactive one referring to his previous job. In addition, the accounts yield up to 3% per year.

When is it possible to withdraw the FGTS?

The FGTS money can be accessed and withdrawn by the worker in some specific situations. Check the list below:

  • Unjustified dismissal by the employer;
  • Termination of the contract for a determined period;
  • Termination for bankruptcy, death of individual employer, domestic employer or contract nullity;
  • Termination of the contract due to reciprocal fault or force majeure;
  • Retirement;
  • Personal, urgent and serious need, resulting from a natural disaster caused by rains or floods that have reached the worker’s area of ​​residence, when the emergency situation or the state of public calamity is thus recognized, by means of an ordinance of the Federal Government;
  • Suspension of Temporary Work;
  • Death of the worker;
  • Age equal to or greater than 70 years;
  • HIV carrier – AIDS/AIDS (worker or dependent);
  • Malignant neoplasm (worker or dependent);
  • Terminal stage due to serious illness (worker or dependent); Permanence of the worker holding the linked account for three uninterrupted years outside the FGTS regime, with leave from 07/14/1990;
  • Permanence of the linked account for three uninterrupted years without credit of deposits, whose removal of the worker has occurred until 07/13/1990;
  • Serious Illnesses – mental alienation, severe heart disease, blindness, radiation contamination, Parkinson’s disease, ankylosing spondyloarthrosis, advanced stage of Paget’s disease, leprosy, severe liver disease, severe nephropathy, irreversible and disabling paralysis and active tuberculosis (worker or dependent).

Another form of FGTS withdrawal was made available in 2019, the birthday withdrawal: those who adhere to the option can withdraw a part of the balance annually – only up to two months after the worker’s birthday. Another option is the possibility of using the FGTS balance to make a bank loan at Caixa. That is, those who decided to carry out the birthday withdrawal can also choose to withdraw all the money at once.

How can I check my balance through the app?

Workers who fit the aforementioned characteristics can check the FGTS values ​​through Caixa’s official website, at branches, by phone (0800 726 0207) or through the FGTS App available for Android and iOS smartphones — and if you are a bank customer, you can also access the information through your digital account.

Through the application, it is possible to view the balance of each account, deposits and withdrawal options via birthday withdrawal and loan.

How to check the balance through the app:

  • First you need to download the app from the Google Play Store or App Store;
  • Open the application and select the option “Register”;
  • Fill in all the requested data: CPF, full name, date of birth, e-mail and register an access password;
  • The password must be numeric, with six digits. For those who already used the Application, you can repeat the same password number you used before;
  • After entering the data, click on the “I’m not a robot” button;
  • You should receive a confirmation message at the email address provided. Access it and click on the link that was sent;
  • After registering, open the app and enter the “CPF” and “Password” registered;
  • After Login, some additional questions about your working life will appear;
  • After answering the questions, you must read and accept the conditions of use of the app;
  • Okay, now just check your balance and other information about your FGTS accounts.

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