Step by Step: How to Withdraw FGTS
Learn why and how to withdraw your balance from the guarantee fund service, as well as tips on how to make the most of it
The Service Time Guarantee Fund (FGTS) is a Brazilian worker's right that allows the withdrawal of an amount deposited by the employer throughout the working period.
FGTS withdrawal can be made in different situations, such as unfair dismissal, purchasing your own home, retirement, among others. In this article, we will detail the step-by-step instructions for withdrawing the FGTS, regardless of the situation.
Reasons to Withdraw FGTS
Before starting the FGTS withdrawal process, it is important to understand the situations in which it is allowed to withdraw the money and whether you fit into any of them. The main reasons for withdrawing the FGTS include unfair dismissal, termination of the contract by agreement between employee and employer and retirement.
The purchase of your own home, the settlement or amortization of housing financing, serious illnesses and workers or dependents with cancer, in addition to workers or dependents with HIV, death of the account holder, situations of natural disasters and also the inactive account, after three years no deposit credit, are other reasons.
Necessary documents
Adverts
The required documentation may vary depending on the withdrawal situation. However, in general, you will need the following documents: your identity document (General Registry); the individual registration (CPF); your work card and proof of residence.
Also the PIS/PASEP number (Social Integration Program/Public Servant Asset Formation Program) and some documentation that proves the situation that allows the withdrawal (for example, letter of resignation, medical certificate, proof of retirement, contract of purchase and sale of property, among others).
Before the Loot
First, access the Caixa Econômica Federal website, the bank responsible for managing the FGTS, to obtain more details about the withdrawal procedures.
And remember to check if your account balance corresponds to the amount you want to withdraw, which can also be done on the Caixa website, at official branches or through the FGTS app.
Adverts
You can also choose the method of your withdrawal, among several available, to best suit your situation. The main options are the Termination Withdrawal, the Birthday Withdrawal, the Serious Illness Withdrawal, the Home Purchase Withdrawal and the Retirement Withdrawal. There are some specifications like the anniversary option, which is irrevocable for two years after choosing it.
Requesting FGTS
After choosing the withdrawal method that suits your situation, it's time to request the withdrawal. The process varies depending on the chosen modality. To withdraw withdrawal, you must go to a Caixa branch or a lottery box. In the case of serious illnesses, it is also necessary to appear in person with a medical report that proves your condition in detail and for the purchase of your own home and retirement withdrawals, it is also necessary to present the documentation in person.
Birthday Withdrawal can be made through the website. After logging in or showing up at a branch, request the withdrawal and follow the process to ensure that everything goes as expected. You can check the status of the order on the Caixa website or contact the bank.
Receiving the Value
Once your request is approved, the amount of your FGTS will be released according to the withdrawal method chosen. You can receive the money in your current or savings account, in cash at a Caixa branch or at a lottery outlet, depending on the modality. If you choose to go to an agency, take your identity documents, already mentioned in the article, and your PIS/Pasep number.
After going through all the necessary procedures and having your withdrawal request approved, the most anticipated phase has arrived: receiving the FGTS amount. However, do not end the process here. When receiving money, it is essential to manage it intelligently. By making well-informed and considered financial decisions, you will be investing in your own financial well-being and that of your family.
Managing Money
Before spending the money, it is prudent to create a financial plan. Assess your immediate needs, such as paying off debt or covering essential expenses, but also think long term. Consider investing part of the amount in savings or another low-risk investment to ensure financial security in the future.
If you have outstanding debts, considering paying them off, based on the withdrawal amount, is also an excellent idea. High-interest debt, such as credit cards or loans, can be prioritized to avoid interest accruing over time.
Extra Tips
It is very important to have a financial reserve for emergencies. Keep a portion of your withdrawal amount in an easily accessible account to cover unexpected expenses, such as health problems, home repairs or temporary unemployment. If you do not have significant debts and already have an emergency fund, considering investing the money, in a well-educated manner, could be an excellent decision.
Investing in education is one of the best ways to ensure a stable financial future. You can use part of the withdrawal amount to take courses, training or invest in qualifications that can improve your professional prospects. Also consider using part of the FGTS value to make a dream come true, such as traveling, purchasing an item of sentimental value or investing in a hobby that brings personal satisfaction.
Conclusion
The FGTS is an important right for Brazilian workers, and knowing how to withdraw it is essential. Make sure you understand the rules and procedures for withdrawal, have the necessary documentation on hand and choose the withdrawal method that suits your situation. Don't forget that Caixa Econômica Federal is the institution responsible for managing the FGTS and can provide guidance and support during the process.
And if you're not sure about the best way to use your FGTS money, we highly recommend consulting a financial professional. A certified financial planner can help you create a personalized plan based on your goals and financial situation.
* You will remain on the same page