FGTS: billionaire profit will be distributed by Caixa – 06/07/2023 – Market

Caixa Econômica Federal must distribute, until the end of August this year, billionaire profit from the FGTS (Fund for the Guarantee of Severance of Service). The money will be credited to the workers’ account with a balance in the fund on December 31, 2022 and can only be used in situations provided for by law.

The total amount to be distributed depends on the bank’s profit in 2022, which is estimated at R$15 billion, and the percentage to be released by the FGTS Board of Trustees. The council gathers representatives of workers, government and companies.

In 2021, the board distributed 99% of the result of BRL 13.3 billion. As a result, workers received R$ 13.2 billion. The distribution index was 0.02748761. For every R$100 in the FGTS account on December 31, R$2.75 was credited.

The presentation of the results of the Fundo de Garantia and the debate on the distribution of profits takes place at a meeting of the Board of Trustees. The body has meetings scheduled for June 20 and July 25. Council representatives heard by the Sheet claim that the June agenda has nothing on FGTS profit, so the topic can be left for July.

In 2022, an election year, the definition of the distribution took place in July and the money was credited a few days after the council’s decision, by deliberation of the body, which opted to advance the credit to the citizens’ account. The money, however, does not easily reach the worker’s pocket, as it can only be withdrawn in situations such as unfair dismissal, retirement and home ownership.

In a note, Caixa stated that “information on the FGTS financial statements for the 2022 financial year will be disclosed on the Caixa and FGTS websites, as soon as they are resolved by the competent governance, including the FGTS Board of Trustees”.

In 2020, the fund’s positive balance was BRL 8.5 billion. Of this total, Caixa distributed R$ 8.1 billion, equivalent to 96% of the profit.

See the distribution of FGTS profit year by year

base year	payment year	Amount distributed (in BRL)
2021	2022	13.2
2020	2021	8.1
2019	2020	7.5
2018	2019	12.2
2017	2018	6.2
2016	2017	7.3

FGTS review should not impact distribution, says economist

Clóvis Scherer, economist at Dieese (Inter-union Department of Statistics and Socioeconomic Studies) and adviser to the representative of CUT (Central Única dos Trabalhadores) on the Board of Trustees, says he believes that the debate on profit distribution will be left for July.

According to him, the council has not yet met in 2023 and is resuming activities. The review of the FGTS, which is on trial at the STF (Federal Supreme Court), should not interfere with the decision on profit distribution, says the economist, but the matter will be debated by the council, since it may directly impact the Fund’s budget. Guarantee.

“There is a need to discuss and be prepared for different impact scenarios of the Supreme Court’s decision on the Guarantee Fund’s budget. Within the council, the question that will arise is: if the current criteria are changed, how to adjust the budget of the fund to a new reality of remuneration of linked accounts?.”

The FGTS review began to be judged by the STF on April 20. On the 27th, the trial was interrupted after a request for a view from Minister Kássio Nunes Marques. ADI (Direct Action of Unconstitutionality) 5,090, of 2014, questions whether the fund’s monetary restatement formula, which uses the TR (Referential Rate) plus interest of 3% per year, should be replaced by an index that reflects inflation.

In his vote, Minister Barroso defended that workers’ money in the fund should at least have the remuneration of savings. Currently, there are two formulas for the passbook. For deposits made up to May 3, 2012, the update is fixed, 0.5% per month plus TR, which equals 6.17% per year plus TR. For deposits made after that date, the remuneration is linked to the basic interest rate of the economy, the Selic.

Who is entitled to the FGTS profit?

All accounts linked to the FGTS, whether active or inactive, are entitled to receive the previous year’s profit. Payment is made by August 31 of each year, for those who had a balance on 12/31 of the base year. Profit appears separately on each of the worker’s accounts.

How is the payment done?

Distribution is carried out by Caixa, which manages the fund. The amounts are credited and, in the FGTS statement, the information “AC CRED DIST RESULTADO ANO BASE 12/XXXX (here will be informed the year to which the payment refers)” appears.

When to withdraw the amounts?

The worker will only be able to use this money if he fits into one of the withdrawal situations provided for in law 8.036/90 for the withdrawal of the FGTS, such as dismissal without just cause, retirement, purchase of a home and serious illness, for example. See the 16 FGTS withdrawal situations allowed by law.

How does the FGTS work?

The Severance Indemnity Fund was created in 1966 as a savings fund to protect workers in case of dismissal, illness or retirement. At the time, it was an alternative to the end of the stability of formal professionals.

The fund consists of an 8% monthly deposit on the worker’s salary. The deposit is made by the company to which it is contracted under the CLT (Consolidation of Labor Laws) regime.

The law also allows resources to be used for housing, which involves not only real estate financing, but also basic sanitation and urban infrastructure. Caixa still uses the amounts in microcredit operations.

There are 16 situations in which it is possible to withdraw money from the Guarantee Fund. One of them, the birthday withdrawal, created in 2019, is under debate by the Lula government. The measure guarantees the withdrawal of amounts on the occasion of the professional’s birthday, but ends with the withdrawal upon dismissal.

The value can be consulted in the FGTS application, through the fund statement. It is also possible to obtain a copy of the statement at Caixa branches. For each company where the worker was hired, there is an open linked account, it is necessary to observe the value in each account and add up how much there is, in all.

• Open or download the FGTS application (for the first access, you need to create a password)
• Click “Enter Application”
• The phrase “FGTS would like to use Caixa.gov.br to log in” will appear; go to “Continue”
• Enter your CPF and click “Next”
• Enter your password and go to “Login”; If you don’t remember, click on “Recover password”
• On the home screen, information regarding the companies you worked for will appear.
• The balance of values ​​for the current or last company appears at the top of the screen; it’s the first; click on it to see the movements
• To save the data, click on “Generate PDF statement”, just below the balance, and save it on your cell phone
• To see all the companies you’ve worked for, go to “View all your accounts” on the homepage
• Click on each of the companies to open the statement; on each screen, the total balance will appear