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Workers who choose Anniversary Retreat from the Layoff Compensation Fund (FGTS) You can anticipate the redemption of money to make a bank loan. The measure is a way to stimulate the country’s economy.
The FGTS annual withdrawal method went into effect this month. The initial idea of the government was to restrict the type of loan operation to three retirement-anniversaries, however, it decided to release the entire balance and let the parties involved, the client and the bank, freely negotiate the terms of the transaction.
How the loan will work
The new measure is to be approved by the FGTS Board of Trustees next week. After resolution, the worker may borrow funds up to the limit of the FGTS balance and must wait for the withdrawal schedule, on the anniversary date, to withdraw the money.
The amount of the credit granted will be blocked in the linked FGTS account and will be transferred by Caixa Econômica Federal once a year to the bank that granted the financing. This already happens with the anticipation of the Individual Income Tax. However, using the payroll limit in the public service, interest rates will be lower.
Additionally, it will be possible to use the funds from the birthday withdrawal as collateral for loans. However, in this case, the policyholder is responsible for paying the fees and, in case of default, the bank that granted the credit will receive the corresponding amount that will also be retained in the employee’s linked account.
How much can you redeem?
In the retirement-birthday modality, the worker can withdraw in cash, once a year, part of the balance he has in FGTS. The amount varies between 5% and 50%, the higher the value, the lower the withdrawal percentage.
The anticipation for financing will follow the same criteria. For example, if the worker has a balance of R $ 14,000, the percentage that can be withdrawn is 15%. This person may make an advance of R $ 9 thousand, paying three annual installments of R $ 3 thousand.
The amount blocked in the FGTS account will be just over R $ 12 thousand. But there will be no limits on the number of withdrawals to anticipate and everything will depend on the negotiation with the banks.
According to the draft of the new Resolution of the Board of Trustees, it will be necessary for the worker to authorize Caixa to pass its FGTS information to the bank that will grant the financing.
The term for Caixa to make adjustments to the system will be 60 days. Furthermore, it is important to note that quota holders who anticipate reimbursements for their birthday retreats will only be able to withdraw in cases of illness and retirement, for example. The remaining part of the balance will be discounted to pay the creditor bank.
See also: Caixa pays the new FGTS withdrawal method
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