At the third regional meeting of the Mixed Parliamentary Front for Strengthening Closed Supplementary Pension Entities (EFPC) in São Paulo, the Brazilian Pension Funds Authority highlighted the scale of Brazil’s closed pension fund segment and linked recent sector confidence to governance and PREVIC’s risk-based supervisory approach. PREVIC director-superintendent Ricardo Pena said the segment has more than eight million people linked to it, including participants, beneficiaries and dependants, and argued that the sector’s differentiated risk-based supervision has supported safer outcomes than a purely rules-based approach. In the context of negative news involving Banco Master, he said that 12 EFPC had investments in the institution as of last year, but that the foundations withdrew once information emerged about a sale and merger, citing strong governance alongside PREVIC’s structured inspection, monitoring and oversight. He also presented São Paulo as a high-concentration market, with 96 EFPC, 734 benefit plans, 1,680 sponsoring employers, more than 1.1 million people with pension plans and BRL 320.3 billion in pension reserves, and referenced federal measures he associated with sector development, including a tax regime, automatic enrolment, strengthening PREVIC and encouragement of green assets. The parliamentary front was launched in August with signatures from more than 200 deputies and senators from 18 political parties, and the São Paulo event followed earlier regional meetings in Paraná and Minas Gerais.

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