The Brazilian Pension Funds Authority (PREVIC) issued a clarification following reports about the Central Bank’s liquidation of Banco Master, stating that the closed supplementary pension system has no investments or positions in Banco Master and therefore has not been affected. It added that pension assets are preserved and monthly benefit payments continue normally within the closed supplementary pension funds sector. PREVIC said its technical audit team checked its database of monthly investment statements, which consolidates official information on transactions conducted by pension plans managed by Entidades Fechadas de Previdência Complementar (EFPC); the regime comprises 265 private pension funds. Any investments in Banco Master were attributed instead to public-sector pension arrangements for civil servants operated by states and municipalities (Regimes Próprios de Previdência Social, RPPS), which are overseen by the Ministry of Social Security’s Secretariat for the Special and Complementary Regimes (SRPC). PREVIC also reiterated that its supervision of the closed supplementary pension regime operates under CNPC/MPS resolutions and National Monetary Council investment guidelines, including Resolutions 4.994/2022 and 5.202/2025.
Brazilian Pension Funds Authority (PREVIC) 2025-11-19
Brazilian Pension Funds Authority clarifies closed pension funds have no exposure to Banco Master liquidation
The Brazilian Pension Funds Authority (PREVIC) clarified that the closed supplementary pension system is unaffected by the Central Bank's liquidation of Banco Master, as it holds no investments in the bank. PREVIC confirmed pension assets are secure and benefit payments continue as usual, with any Banco Master investments linked to public-sector pension arrangements overseen by the Ministry of Social Security. PREVIC's supervision follows CNPC/MPS resolutions and National Monetary Council guidelines.