FGTS profit will be paid in 2022, see dates and who to receive

FGTS (Employee Guarantee Fund) profit is one of the benefits that workers who work on an official contract receive. In addition to the right to the FGTS itself, workers also have the right to receive a monetary correction of funds kept in accounts linked to the employment contract.

How does FGTS earning work?

Many people wonder why the balance of the guarantee fund is subject to monetary correction considering that the balance of the worker is still there, so that he can withdraw in some rules of the FGTS.

However, this transfer of FGTS dividends has been in place since 2017 and occurs based on the net profit obtained by applying an annual cash correction to the fund.

This profit is obtained because while workers do not get refunds, the government can, by law, use the outstanding balance until workers come to withdraw to fund public policy projects.

As for the government’s use of the balance, it uses it for financing on three points, which are infrastructure, sanitation, and even to get credit for home financing.

Thus, each year, the accumulated balance of the FGTS for workers on December 31 is subject to a cash correction that is passed on to the workers.

It should be noted that with the correction taking place on December 31, throughout 2022, even those who withdraw from the escrow fund will still be eligible for the correction to be applied on the last day of 2021.

Who is entitled and when is it received in 2022?

As mentioned earlier, all workers with FGTS credit on December 31, 2021 are entitled to the Guarantee Fund earnings next year.

As for dividend release dates in 2022, the law that led to the transfer of profit, Law No. 13446/2017, specifies that the transfer always takes place in the same period, let’s see:

As indicated in Section 1 of Law 13,446, the transfer of FGTS earnings will be proportional to the account balance on December 31 of the base year and must occur by August 31 of the year following the year of result calculation.

Therefore, the profits of the Guarantee Fund will be paid in August, and must be distributed to all workers entitled to the allowance by the 31st of each month.

Since the correction will only be implemented on December 31, there is still no forecast as to how much it will pass to workers, or the percentage.