The Brazilian Pension Funds Authority (PREVIC) approved amendments to the six benefit plan regulations administered by Portus Instituto de Seguridade Social, completing a settlement reached at the Federal Public Administration Mediation and Conciliation Chamber (CCAF/AGU) and advancing steps toward ending the entity’s 14-year intervention. The revised rules provide for an annual adjustment of future benefits and the payment of the pecúlio death benefit and the abono anual annual bonus, which had been suspended under the 2020 deficit equating plan. The amendments were formalised through PREVIC Ordinances Nos. 391 to 396 and align with sponsors signing debt composition terms covering BRL 1.46 billion to be received, partly upfront and partly financed over up to 12 years. Most financial effects have already been passed through to participants, including the 2024 annual bonus, a 12.81% benefit adjustment from April 2024 and a 4.77% adjustment in January 2025; the remaining pecúlio payments for deaths since June 2020 are expected in the coming weeks. PREVIC’s board extended the intervention until 30 June to allow completion of outstanding payments, finalisation of sponsor signatures and appointment of provisional directors and council members who will run the next ordinary election and support a return to normal operations. Once requirements are met, Portus can exit intervention without waiting for the extension’s end date, after which it will need to run a selection process for new directors under Complementary Law 108/2001.

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