Three years after its launch, in 2020, the FGTS Anniversary Withdrawal has been providing workers with a unique chance to access the resources contained in the Length of Service Guarantee Fund. This option allows beneficiaries to withdraw up to 50% of the balance of active and inactive accounts, annually, based on the account owner’s birthday. In the midst of a scenario of constant transformation, it is necessary to keep an eye on it: the government plans to start implementing new rules for this modality from 2024. And these changes have the capacity to significantly impact the way workers will be able to access and use their FGTS resources. As such, there needs to be careful monitoring of the proposed changes.
What lays ahead? Future changes to the FGTS Birthday Withdrawal
The FGTS Anniversary Withdrawal, created in 2020, is about to undergo significant changes from 2024. Given this, do you know what will change?
- Total Balance Withdrawal: One of the most significant points presented is the proposal that workers who choose the Birthday Withdrawal option can also withdraw the full FGTS whenever they wish. This means that current limitations on withdrawing a percentage of your available balance may no longer exist.
- Retroactive Validity: The new rules will also apply to workers who have already subscribed to the Birthday Withdrawal modality and who, at this moment, have part of their balance blocked. These individuals, following future changes, will have the option of withdrawing the FGTS in full, if they wish.
- Impediment of Returning to the Birthday Withdrawal Modality: According to the planned changes, when making a total withdrawal of the FGTS balance, the worker may be unable to return to the Birthday Withdrawal. The creation of a definitive decision seeks to avoid fluctuations between different withdrawal methods.
It should be noted, however, that these changes are subject to approval and voting in the National Congress before they can come into force. Therefore, it is important that all workers follow future government decisions related to this issue.
How does Birthday Withdrawal work today?
Currently, the FGTS Anniversary Withdrawal offers workers the option of redeeming a portion of the balance available in the Length of Service Guarantee Fund, following a calendar determined by the FGTS. Each worker can withdraw a percentage of their balance and an additional fixed installment. “These values are made available from a specific date. However, withdrawal is not mandatory, allowing the worker to decide when and how much they want to withdraw from their resources”, explains Juliana Inhasz, financial specialist. However, if the worker does not withdraw within a period of time after the availability date, this portion will return to the beneficiary’s FGTS reserve, where it will again be blocked for withdrawal. The Birthday Withdrawal can be received at other banks, as long as the account has the same ownership as that registered at Caixa Econômica Federal. This data is relevant for all workers, as it allows strategic planning in relation to the Birthday Withdrawal. It is important to remember that healthy financial planning involves information. Therefore, stay tuned to the rules and news about the FGTS Anniversary Withdrawal and, thus, make well-informed choices for a more peaceful future!