The worker has up to 90 days to withdraw funds

Christmas loot Separation Compensation Fund (FGTS) It can be accessed once a year by workers who choose this type of withdrawal. But be careful: you must withdraw within 90 days of the funds being available. After that, the amount goes back to the worker’s fund.

Read more: Unemployment Insurance and the FGTS Fine: Will Workers Lose These Rights?

In other words, according to the FGTS rule, a worker can withdraw money in the month of Christmas or, at most, until the last day of the second month. For example, if the worker was born in July, he has until September to make the withdrawal.

90 days to withdraw

Year after year, Christmas looting has been an additional option for Brazilians looking for more resources to deal with the constant increases caused by inflation. The FGTS becomes that option, to the point that the federal government is considering more ways to release some of the money to get the economy moving.

While the new rules haven’t been defined, Christmas loot remains an option. The first step is to sign up to show interest in this type of withdrawal.

But beware: Renovation continues in the following years. That is, if the worker does not change the method of withdrawal upon termination of the contract, then a part of the FGTS will be released every birthday month.

The amount that will be released depends on the total amount available in the FGTS account. For example, a worker with a total balance of R$1,450 will receive a 30% tax rate, plus an additional premium of R$150. In this example, the amount issued in the Christmas withdrawal would be R$585.00.

Many workers also doubt whether, by choosing to opt out of Christmas, they continue to enjoy the right to use the FGTS to purchase their homes. According to Caixa Econômica, yes!

The use of FGTS in purchasing this item has not changed by withdrawing the date of birth. Therefore, if you join this method, remember to stick to the 90-day deadline for withdrawal.