Everything you need to know about FGTS

Why was the FGTS created?

In addition to serving as a type of savings for many taxpayers, through the FGTS, the employee has the opportunity to build equity, a credit guarantee that can be used in special circumstances, such as the acquisition of the much dreamed of own home, in the planning of a comfortable retirement or even in unpredictable situations that may occur when there is dismissal without just cause or in case of some serious illness.

The employee can use the FGTS resources for housing in cases of acquisition of new or used properties, construction or even the amortization or settlement of debts arising from a real estate financing agreement.

In this way, the FGTS became one of the main and most important sources of real estate financing in the country, benefiting the Brazilian people, especially the less privileged and lower-income population.

So far we know the origin and purpose of the benefit, now let's see what happens to all the money collected at Caixa Econômica Federal:

What is FGTS money used for?

Looking closer, we understand that the FGTS accounts of all employees are at Caixa Econômica Federal. The sum of all these accounts converges into a single one. Thus, when the government mentions the use of FGTS resources, it refers to this single account.

When it comes to the development of the country, the importance of resources from this fund goes beyond just the benefits of decent and affordable housing, as it is also responsible for financing various sanitation and infrastructure works around the country, generating and expanding improvements in quality of life. of Brazilian citizens by providing access to safe drinking water, sewage collection and treatment, public lighting and other essential services!

In this way, in addition to contributing to national development, the money in the FGTS account of each employee at Caixa is moved frequently. In any case, regardless of how the government invests the FGTS resources, every employee has the right to use the money deposited in their account in certain situations.

More specifically, we have a question:

Who is entitled to the benefit?

• Employees registered under CLT are entitled to FGTS
• rural collaborators
• intermittent workers
• Temporary service providers (people who work in the urban environment hired by a company to provide services for a certain period)
• Independent workers (people who provide services to several companies, however they are under a union contract and, therefore, do not constitute an employment relationship, such as stevedores)
• Professional athletes (such as players of sports such as volleyball, soccer, etc.)
• Domestic workers (mandatory since 10/1/2015)
• Harvesters (people who operate in rural areas and work only during the harvest period)

At this point, we have already greatly refined our knowledge about the FGTS, and to conclude, in sequence, see:

How to check the FGTS balance?

Employees can check their FGTS balance in several ways.

Web site: You can consult your information related to the FGTS after registering and creating a password on the Caixa Econômica Federal website. For this, you will need access to your NIS/PIS number. You can find them on your Citizen Card, Work Card or even on the FGTS printed statement.

Follow the detailed step-by-step below:

1º You must inform the NIS/PIS number and then click on “register password”;

2º Read the regulation and click on “I accept”;

3º To continue, fill in your personal data;

4º Create a strong password that contains up to eight digits;

Once this process is completed, all you have to do is log in and you will be able to access your account information.

Application: Using the same password created earlier, you can check the information in the FGTS application that is available on the App Store and Google Play. You can also register the password directly through the application.

See how:

On the initial screen of the application, you must click on “First Access”;

After that, read the terms and agreement and click on “accept”;

You must inform your NIS number and click on “Continue”;

After that, fill in the form and click “Next”

After creating the password, click on "register" and that's it. You will be able to use and monitor your account through the application.

SMS and email: On your cell phone, you can receive every month via SMS various information about your available balance, transactions and deposits made to your account.

It is also possible to receive this information by email. In this case, the electronic message with statement will be forwarded monthly and should replace the paper statement, which is normally sent every two months by mail.

What is FGTS?

The Fundo de Garantia do Tempo de Serviço, or more popularly known as the FGTS, began with the aim of protecting workers who were dismissed without just cause, by opening an account linked to the employment contract.
At the beginning of each month, employers deposit into accounts opened at Caixa, on behalf of employees, the amount corresponding to 8% of each employee's salary. In the case of learning contracts, the percentage is reduced to 2%.