When is the exceptional withdrawal due up to 1000 BRL worth?

Refunds began last Wednesday, the 20th, and will be allocated according to the taxpayer’s date of birth. The government estimates that about 30 billion R$ will be freed up to 42 million R$ Brazilian workers.

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Withdraw an amount up to R$1,000 from the Severance Compensation Fund (FGTS) according to the taxpayer’s birthday and will be available through December 15, according to Federal Revenue.

The government estimates that R$30 billion will be freed up for some 42 million workers. In the capital of Brazil, according to Codeplan data, in March there were about 547,000 registered workers. Anyone with an FGTS account of any type, active or inactive, can make an exceptional withdrawal.

When is it worth withdrawing?

Specialists explain the situations in which it is worth withdrawing funds from the FGTS. According to Ricardo Teixeira, MBA Financial Management Coordinator at FGV, you should only withdraw when a person has the greatest need for money.

FGTS is created when a worker needs it [dos valores] For being unemployed or on retirement, to ensure a greater period of rest. “You shouldn’t quit unless you are unemployed,” says the coordinator.

However, given the financial difficulties many Brazilians are currently facing, experts say withdrawal is useful when the goal is to get rid of some debt. “We always prioritize whoever has the highest interest rate,” Teixeira says.

The Master in Economics Ciro de Avelar also understands that, given the current scenario, withdrawing the amount may be the best option in some cases.

“In this sense, the romantic view of the FGTS equilibrium must be broken. It is better to use the R$1,000 for subsistence for the family or to pay a bill than to leave the resource that he owns. [na conta]in a high inflation scenario,” says Ciro de Avillar.

However, care must be taken. Experts warn that the best way to recover and use the value of an exceptional withdrawal is purchases that do not bring new debts.

In order not to make mistakes, it is necessary to plan in advance and make sure that your expenses are adequate, advises Ciro de Avelar. The expert stresses the importance of considering both your future income and what you will need to spend on commitments in the coming months.