The Brazilian Pension Funds Authority (PREVIC) published its 2024 Management Report, outlining process changes in risk-based supervision and enforcement, including nationwide standardisation through internal manuals, updates to the handling of infringement cases, and ongoing development of licensing systems. The report also records an 88.4% increase in technology investment versus 2023 and the selection of 40 new staff expected to take up their posts in the first half of 2025. On regulation, the main output cited was Resolution PREVIC 25/2024 updating Resolution PREVIC 23/2023 after a public consultation that received 10,396 contributions; it is intended to speed licensing for closed pension entities (EFPC) seeking automatic enrolment of new participants and align sponsor withdrawal rules with CNPC Resolution 59/2024. PREVIC also developed two further proposals sent in 2024 for government analysis: an update to the sanctions regime (Decree 4,942/2003) and administrative process for assessing liability, and amendments to National Monetary Council Resolution 4,994/2022 on EFPC investment guidelines to meet Brazilian Securities and Exchange Commission Resolution 175/2022. Supervisory activity included direct inspections of 72 EFPC by Federal Revenue auditors working at PREVIC, covering 4.37 million participants, beneficiaries and dependants and BRL 967 billion in pension reserves, alongside 356 atypical-risk occurrences tracked across 110 EFPC and 158 complaints assessed; licensing authorised 10 new plans and 303 adhesion agreements and approved appointments and plan documentation changes, while development continued on a unified register combining CADPREVIC and CAND. The report notes PREVIC’s elected membership of the International Organisation of Pension Supervisors Executive Committee and that the 2024 policy proposals remain with the Civil House of the Presidency and the Ministry of Finance for analysis.

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