Brazilian Pension Funds Authority (PREVIC) has put into effect its 2026 Annual Inspection and Monitoring Programme (PAF), setting out a risk-based supervisory plan that will directly inspect 111 closed pension entities while maintaining indirect monitoring across the full population. The programme calibrates supervisory intensity to each entity’s segment and risk indicators and provides that all entities will be inspected at least once every seven years. Under PREVIC Resolution 23/2023, larger entities (S1) and those exposed to serious risks are subject to permanent supervision, S2 entities to periodic rotating supervision, and S3 and S4 entities to rotating diligence-based supervision. For 2026, the plan includes permanent inspection for 10 S1 entities, periodic supervision for seven entities, diligences for 24 pension funds, special monitoring for 15 entities, and 55 entities subject to an internal fiscal action procedure (AFI). The PAF also sets thematic supervision priorities for 2026 covering cybersecurity, EFPC election processes, and entities’ communication and transparency, using standardised inspection manuals and producing supervisory feedback and periodic audit and management reports. Indirect supervision within the PAF includes monitoring of compliance, risk indicators, atypical operations, specific situations, and other information sources. PREVIC plans to begin an experimental artificial intelligence system to detect atypical operations, which is in the final stage of development, and the programme also covers the treatment of complaints and representations and the oversight of intervention and liquidation regimes through guidance, technical notes, reports and supervision of work performed by special administrators, interveners and liquidators.

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