FGTS stands for “Fundo de Garantia do Tempo de Serviço,” which is a mandatory savings account for employees in Brazil. It was created in 1966 to protect workers in case of unfair dismissal and to provide financial resources for workers during retirement.
FGTS contributions are made by employers and amount to 8% of the employee’s salary, which is deposited into a separate account in the worker’s name. The funds in the account are available to the employee in certain circumstances, such as termination of employment without just cause, retirement, or in the case of serious illnesses.
Employees are not allowed to withdraw the funds in their FGTS account at will. However, they are entitled to receive the balance of the account when they retire, after a certain period of time has passed, or in specific circumstances, such as to purchase a home.
Advantages for you worker:
Track your FGTS in a simple way. Check the total balance of your FGTS accounts, check deposits made by your employer, print your statements and, if you prefer, you can still opt for your Cash-Birthday.
All FGTS withdrawals in the app:
All withdrawals provided for by law are available in the app and, if you need or are entitled, you can request in the App.
Link Download App: https://play.google.com/store/apps/details?id=br.gov.caixa.fgts.trabalhador