Brazil's National Council for Complementary Pension Plans (CNPC) unanimously approved amendments to its procedural rules for the formalisation of pension fund statutes, benefit plan regulations and adhesion agreements, with a focus on how benefits are updated when a price index is used. The meeting also approved the CNPC’s meeting calendar and regulatory agenda for 2026-2027. The changes amend CNPC Resolution No. 40/2021 to increase stability, predictability and legal certainty around benefit update criteria, particularly where an inflation index is adopted. The amended framework authorises the Brazilian Pension Funds Authority (PREVIC) to issue a normative act listing indices that meet the requirement of adequately reflecting changes in the prices of goods and services consumed by the population. The proposal was drafted by PREVIC and underwent a public consultation process led by the Ministry of Social Security’s Secretariat for Own and Complementary Pension Regimes. Possible adjustments to CNPC Resolution No. 50/2022 were discussed but deferred after the ANAPAR representative requested additional time to review the matter, which is expected to return for deliberation at the CNPC’s next meeting in 2026. The 2026-2027 regulatory agenda prioritises continued work on “procedures and specific criteria for calculating and treating the results of benefit plans”, an area currently governed by CNPC Resolution No. 30/2018.

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