The Brazilian Pension Funds Authority (PREVIC) endorsed an extrajudicial collective conciliation agreement between Portus Instituto de Seguridade Social and port authorities that will inject BRL 2.149 billion into the Portus 1 Benefits Plan (PBP1), benefiting around 7,900 members, retirees and beneficiaries. The agreement is intended to support the reinstatement of suspended benefits and improve retirement outcomes, including by reducing the level of extraordinary contributions. The settlement amount is set out as BRL 1.146 billion under a Debt Composition and Adjustment Term (TCD) and BRL 1.003 billion under a Financial Commitment Term (TCF) to be paid by sponsoring employers, and it also includes BRL 23.245 million paid by the federal government as successor to Condomar. In exchange, unions representing members and beneficiaries agreed that Portus will withdraw court actions against the sponsors, which is expected to significantly reduce ongoing litigation against the port administrations. PREVIC’s superintendent linked the resource injection to immediate improvements to the 2020 deficit funding plan, including lower total contribution percentages, adjustments to current benefits, and the resumption of annual bonus (abono anual) and pecúlio payments. The conciliation was conducted by the Federal Public Administration Mediation and Conciliation Chamber (CCAF/CGU/AGU) with PREVIC’s agreement, creating the conditions for the intervention in place since 2011 to end on 1 May 2025.

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