Brazilian Pension Funds Authority (PREVIC), through its Licensing Directorate, has authorised the creation of a new closed supplementary pension entity, Horizon Prev, following an application by Companhia Jaguari de Energia, part of the CPFL Energia group. The licensing review found the applicant met the legal requirements, including Complementary Law 109/2001, National Council for Complementary Pensions Resolution 40/2021 and PREVIC Resolution 23/2023. The stated plan is to concentrate six existing pension plans in the new entity, with an expected end-state social assets base above BRL 3.5 billion and 8,700 participants and beneficiaries. Horizon Prev has up to 180 days to begin operations. PREVIC noted that any subsequent requests for incorporation, transfer of management or migration of plans into Horizon Prev will be assessed in a next phase focused on protecting participants’ and beneficiaries’ assets, and participant and beneficiary associations may seek to join that administrative process under the criteria set out in PREVIC Ordinance 85/2025 and PREVIC Resolution 23.

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