Withdraw FGTS in Advance: How to Do It and What are the Conditions

Many Brazilian workers have the option of withdrawing the Severance Indemnity Fund (FGTS) in advance. The FGTS is a mandatory savings that the employer is obliged to deposit in the employee's name.

This money can be used for a variety of purposes, such as buying a home, paying off debts, or financial emergencies. To withdraw the FGTS in advance, the worker must meet certain criteria.

In general, it is necessary to have worked for at least three years with a formal contract and not have any other loan in progress with the same fund. Furthermore, the maximum amount that can be withdrawn is limited to a certain percentage of the total FGTS balance.

Although withdrawing FGTS early can be an attractive option for many workers, it is important to remember that withdrawing this money can have long-term consequences.

For example, withdrawing money can reduce the amount available for withdrawal in the future, when the worker really needs it. Therefore, it is important to carefully evaluate the pros and cons before deciding to withdraw the FGTS early.

Understanding FGTS and Advance

What is FGTS?

The Service Time Guarantee Fund (FGTS) is a labor benefit that was created to protect workers in cases of unfair dismissal.

Every month, the employer must deposit an amount corresponding to 8% of the employee's salary into an account linked to the FGTS, which is managed by Caixa Econômica Federal.

In addition to unfair dismissal, the FGTS can also be withdrawn in other situations, such as retirement, property purchase, serious illnesses, among others.

How does FGTS anticipation work?

FGTS anticipation is a service offered by Caixa Econômica Federal that allows workers to withdraw part of their FGTS balance before the deadline established by law.

This withdrawal method is aimed at people who are facing financial difficulties and need money to pay debts or urgent expenses.

To request the FGTS advance, the worker must have at least R$ 1,000.00 in balance in the account linked to the fund and have an active employment contract.

In addition, you must download the Caixa Tem app and follow the instructions to make the request.

It is important to highlight that the FGTS advance is not a loan and, therefore, there is no interest or fees charged. The advance amount will be automatically deducted from the FGTS balance in the next installments.

Procedures for Withdrawing FGTS in Advance

Over the years, the Service Time Guarantee Fund (FGTS) has become one of the main sources of financing for Brazilian workers.

The FGTS is a financial reserve that can be used in times of financial difficulty, such as in the case of unfair dismissal, serious illness or to purchase your own home. However, with the COVID-19 pandemic, the federal government allowed workers to withdraw their FGTS in advance.

Requirements to Withdraw FGTS in Advance

To access the FGTS early withdrawal, the worker must fall into one of the following situations:

• Being unemployed;
• Have a suspended employment contract;
• Being an individual microentrepreneur (MEI);
• Have a reduction in working hours or salary.

In addition, you must have an available balance in your FGTS account to make the withdrawal.

Step by Step for Withdrawing from CAIXA WORKADOR

To make an early withdrawal of FGTS from CAIXA WORKER, simply follow the following steps:

1. Access the CAIXA website and log in with your NIS number (PIS/PASEP) and registered password;
2. Click on “FGTS” and select the “Emergency Withdrawal” option;
3. Confirm your address and click “Continue”;
4. Enter the bank account in which you wish to receive the withdrawal amount;
5. Wait for the withdrawal to be released and check the available balance in your account.

Using the CAIXA TEM Application

Another option to make an early withdrawal of FGTS is through the CAIXA TEM application. To do this, follow the following steps:

1. Download the CAIXA TEM app from your cell phone’s app store;
2. Log in with your NIS number (PIS/PASEP) and registered password;
3. Click on “FGTS Emergency Withdrawal” and enter the amount you want to withdraw;
4. Confirm the address and click “Continue”;
5. Select the option “Receive withdrawal code”;
6. Enter the code received at the CAIXA branch or at a lottery outlet.

With this information, it becomes easier for the worker to withdraw the FGTS in advance and use the money to face the financial crisis caused by the pandemic.