The Board of Trustees of the Severance Pay Guarantee Fund (FGTS) will define, this Thursday (8), the distribution of the Fund’s profits among workers. Last year, the FGTS recorded record profit of R$23.4 billion.
Caixa Econômica Federal has until August 31 to credit the portion of FGTS profits shared among the shareholders. The money is distributed proportionally to the balance in each account in the worker’s name on December 31 of the previous year.
At this Thursday’s meeting, the Board of Trustees will define the portion of the record profit to be shared among employees. In 2023 and 2022, 99% of the profit was distributed to shareholders. In 2021, 96% of the positive result was shared.
Performance
According to the law, the FGTS yields 3% per year plus the reference rate (TR). Recently, the Supreme Federal Court (STF) decided that the fund should have minimum correction by the Broad National Consumer Price Index (IPCA), but the correction is not retroactive on the stock of accounts and is only valid from the publication of the result of the judgment.
If the result of the profit distribution, added to the 3% annual yield plus TR, is lower than inflation, the Board of Trustees is required to define a form of compensation so that the correction reaches the IPCA. The final FGTS yield in 2023 will only be known after the profit distribution.
The positive result of R$23.4 billion last year represents almost double the R$12.1 billion recorded in 2022. Of the total gain in 2023, R$16.8 billion comes from the recurring profit of the FGTS, resulting from the fund’s investments in public securities and in investments in housing, sanitation, infrastructure and health.
The remaining R$6.6 billion comes from the restructuring of the fund that finances the reconstruction of Porto Maravilha, in Rio de Janeiro. agreement was signed in August last year to continue the works in the port region, which began in 2010.
How to check your balance
The worker can check the FGTS balance through the FGTS applicationavailable for Android and iOS phones. Those who cannot check the statement online should go to any Caixa branch and request the statement at the service desk.
The bank also sends the FGTS statement in paper form every two months to the registered address. Anyone who has moved should go to a Caixa branch or call 0800-726-0101 and inform the new address.
