FGTS profit, who is entitled?

FGTS Profit is also known as FGTS results distribution, and is a modality that allows the distribution of part of the profit obtained by the FGTS among workers who have balances in the fund's linked accounts.

Let's learn more about this subject, such as who is entitled and how it can be withdrawn.

What is FGTS?

Before we begin, let's go over what the FGTS is and its importance for Brazilian workers.

The FGTS, or Severance Pay Guarantee Fund, is a right guaranteed to Brazilian workers whose main objective is to create a type of financial reserve.

This reserve can be withdrawn in situations such as unfair dismissal, retirement, purchase of a home, serious illness, among other specific cases provided for by law.

This reserve is made by your employer, who must deposit 8% of your salary into a specific account each month. These deposits are made into an account managed by Caixa Econômica Federal.

And everything related to your FGTS, transactions, deposits and withdrawals can be consulted in the Fund's specific application or in Caixa Econômica Federal's Internet Banking.

In short, the FGTS is a fundamental and mandatory right for Brazilians, providing a certain level of security with a financial reserve used in important and necessary moments.

What is FGTS Profit?

The Service Time Guarantee Fund, or FGTS, is an investment fund that brings together the benefits paid to Brazilian workers.

And all this money is deposited in a common fund of Caixa Econômica Federal, being managed by the bank, as well as some other benefits. 

And since it is an investment fund, it would clearly yield profits for its contributors. According to information, in 2022 the FGTS profit was R$12.7 billion, which was distributed among more than 200 million people.

This income will be accumulated until it is distributed to workers, as a form of additional income to their FGTS accounts.

The distribution of FGTS profits began in 2017, and the intention is for it to be annual, but it depends on the income generated, whether it was positive or not.

Who is entitled?

However, not everyone is entitled to FGTS Profit; distribution is proportional to the balance of each account and occurs in accordance with specific rules established by the FGTS Board of Trustees.

Generally, workers who have a positive balance in their FGTS accounts on December 31 of the base year are considered.

Whether the accounts are active or inactive, as long as they have balances, the worker will receive a proportion of the FGTS profit.

Is it possible to calculate the profit?

And if you want to know more or less how much you will receive from the FGTS Profit, you need to remember that the return is related to the index of each year, which may vary.

So since it is something that is not yet defined, we will have to wait until December 2023 to know what the index will be for the year. Then you can do the math based on the amount you have in your account and the index.

Continue following the information released by Caixa Econômica and the government to better understand when the profit distribution will be made.

How to withdraw FGTS profit?

The FGTS profit is an additional amount, which may or may not be annual, to the amount you already have in your FGTS account.

This means that it will not be very different from the balance you already have in your account, so you will only be able to withdraw it in accordance with the rules of the Severance Pay Guarantee Fund itself.

So how do you withdraw your FGTS?

So to know when you can withdraw your profit, you need to know how to withdraw all the funds from your FGTS account.

And for this, there are 14 different situations in which the FGTS can be withdrawn. The first and most common of these reasons is dismissal without just cause, by the employer.

Other situations include the death of a worker, retirement, termination due to bankruptcy or mutual fault.

If the individual has been hit by some type of natural disaster, the country is in a state of public calamity or for very urgent reasons, he or she may also withdraw his or her FGTS balance.

There are still 8 reasons why it is possible to make the withdrawal, so continuing our list, when the worker or one of their dependents is terminally ill, has cancer or has the HIV virus, they will also be eligible.

FGTS can be used as part or full payment for real estate, helping workers realize their dream of owning their own home. Or to supplement payments on real estate financing.

From the age of 70, workers can withdraw their FGTS, even if they are still employed.

Another situation that was also instituted is the withdrawal in the form of anniversary withdrawal, in which the worker can withdraw a part of his balance annually, from the month of his birthday until the date stipulated by Caixa Econômica.

How to check the profit?

If you don't know whether you have received your FGTS profit or where it will be deposited, there is no reason to despair. We will help you!

To do this, you can check your profit and find out when you will receive it and whether it has already fallen.

And to make the query, use the FGTS application, which is available for Android or iOS, and can also be accessed via Caixa internet banking.

There you can register or access the account you already have. There you can check your statement to track your deposit and check your balance.

And if you want to keep a close eye on things without having to log into the app, simply request that Caixa send you an SMS about deposits into your account.

To stay informed about when you will receive your FGTS profit and how much the percentage is, keep an eye on and follow the information that the Federal Government and Caixa Econômica release.