The Brazilian Pension Funds Authority (PREVIC) announced the conclusion of a mediation process that resulted in an agreement on how to allocate the special reserve (technical surplus) of Valia’s Plano Vale Mais, with participants and beneficiaries set to receive 50% of the amount as part of a benefits-plan review. The agreement was communicated during a 2 April meeting of PREVIC’s Chamber of Mediation, Conciliation and Arbitration and followed mediation conducted since August 2023 involving Valia and Aposvale, the association representing retirees, pensioners and employees of sponsoring companies. The excess reserve stood at BRL 420.5 million in December 2023, and PREVIC noted that distribution of a surplus is possible after three years of accumulation of the special reserve. Valia has consolidated the plan revision proposal and will submit it to PREVIC’s Licensing Directorate for consideration.
Brazilian Pension Funds Authority (PREVIC) 2025-04-08
Brazilian Pension Funds Authority concludes mediation on Valia’s Plano Vale Mais surplus, agreeing a 50% distribution from the BRL 420.5 million special reserve
The Brazilian Pension Funds Authority (PREVIC) concluded a mediation process, resulting in an agreement to allocate 50% of Valia’s Plano Vale Mais special reserve to participants and beneficiaries. The reserve, valued at BRL 420.5 million in December 2023, will be distributed following a benefits-plan review. Valia will submit the plan revision proposal to PREVIC’s Licensing Directorate for consideration.