The Board of Trustees of the Severance Pay Guarantee Fund (FGTS) approved this Thursday (8) the distribution of R$15.19 billion among workers who have accounts linked to the fund.
The value is 65% of the total profit recorded in 2023, which was R$ 23.4 billion.
According to the Board of Trustees, with this distribution, the profitability of FGTS linked accounts in 2023 will exceed the Broad National Consumer Price Index (IPCA) by 3.16 percentage points, the highest profitability since 2016.
All workers with a balance in their linked FGTS accounts on December 31, 2023 are entitled to receive the amounts that will be distributed.
How to calculate
The money is distributed proportionally to the balance of each worker’s account on December 31 of the previous year. To find out the portion of the profit that will be deposited, the worker must multiply the balance by 0.02693258. In other words, for every R$1,000 in balance, the shareholder will receive R$26.93.
The amount must be credited by Caixa by August 31st to the 218.6 million linked accounts entitled to distribution held by 130.8 million workers.
The amount received by workers goes directly to their FGTS balance and can only be withdrawn in cases provided for by law, i.e. serious illness, unfair dismissal, retirement and natural disasters. The FGTS balance can also be used to purchase residential property.
How to check your balance
Workers can check their balance in the fund using the FGTS app, available for Android and iOS phones. Those who cannot check the balance online should go to any Caixa branch and request a 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.
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 must have minimum correction by IPCAbut the correction is not retroactive to the account stock and is only valid from the publication of the result of the judgment.
If the result of the profit distribution, added to the yield of 3% per year plus TR, is lower than inflation, the Board of Trustees is obliged to define a form of compensation so that the correction reaches the IPCA.
Profit
The positive FGTS result in 2023, of R$23.4 billion, 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. The agreement was signed in August last year to continue the works in the port area, which began in 2010.
