The Brazilian Pension Funds Authority (PREVIC) has approved the use of automatic enrolment for 24 benefit plans administered by 17 closed supplementary pension entities, supporting the implementation of automatic enrolment within Brazil’s closed complementary pension system. Automatic enrolment was established under National Council for Complementary Pensions Resolution No. 60/2024, and PREVIC updated PREVIC Resolution 23/2023 in 2024 to allow automatic licensing of the mechanism in plans run by closed entities. An ABRAPP survey conducted in April reported early take-up effects among entities that have implemented the model, with five of eight participants showing rising participation rates from 88% to 93% on average, described as a 6% increase, with the largest increase reaching 13%. New members enrolled automatically have 120 days to opt out, with contributions made during that period refunded.
Brazilian Pension Funds Authority (PREVIC) 2025-06-18
Brazilian Pension Funds Authority licenses automatic enrolment for 24 closed pension plans across 17 entities
The Brazilian Pension Funds Authority (PREVIC) approved automatic enrolment for 24 benefit plans managed by 17 closed supplementary pension entities, following updates to PREVIC Resolution 23/2023. This supports automatic enrolment under National Council for Complementary Pensions Resolution No. 60/2024. An ABRAPP survey indicated early positive effects, with participation rates rising from 88% to 93% on average among entities adopting the model.