04 Pension funds more active on social media
Long focused on older audiences, pension entities’ social networks have recently begun “speaking” to the young

08 Investment policies remain conservative this year
In an uncertain short-term interest rates scenario, pension funds stick to fixed income...

04 Pension funds more active on social media
Long focused on older audiences, pension entities’ social networks have recently begun “speaking” to the young

08 Investment policies remain conservative this year
In an uncertain short-term interest rates scenario, pension funds stick to fixed income instruments, achieving well-adjusted risk-return levels

13 Advocating for the industry for nearly half a century
ABRAPP’s General Manager and former Presidents share memories and struggles to protect rights and promote sector development

18 Active listening, non-intrusive supervision and
respect for the regular act of management Interview with Ricardo Pena

22 Raising the bar on responsible investing
LAB and CDP can help establish taxonomy and boost Environmental, Social and Governance reporting by pension funds

27 Strategic Planning: vision for the next decade
Six major projects, 20 key activities and 77 actions have been assigned to multidisciplinary Working Groups, Technical Commissions and Committees

31 The Return of the Ministry of Social Security
The team put together by Minister Carlos Lupi comprises well-known experts, having pleased industry stakeholders

33 Statistical Data

The year of 2023 promises to be the beginning of a new era for Brazilian non-profit occupational pension plans. After all, a central-leftist government, more concerned with social welfare, has just been elected, bringing immediate, significant changes.

An important point was the re-creation of the...

The year of 2023 promises to be the beginning of a new era for Brazilian non-profit occupational pension plans. After all, a central-leftist government, more concerned with social welfare, has just been elected, bringing immediate, significant changes.

An important point was the re-creation of the Ministry of Social Security, whose policy role had been diminished after it was relinquished to a mere secretariat under the Finance ministry structure at the beginning of Jair Bolsonaro’s term, in early 2019.

In the supervisory agency (PREVIC - National Superintendence of Complementary Pension Provision), a new - and yet very experienced - Superintendent has taken office with the firm purpose to “turn the key” of the system, a subject he addresses in an exclusive interview featured in the present issue.

Ricardo Pena had previously held the same post at the supervisor. However, he now returns to the position after becoming a private plan member himself and leading, for nearly 10 years, the pension entity (Funpresp-Exe) created in 2013 for new public servants of the Executive Branch, who are subject to the same Social Security benefit cap as private sector workers. The experience has made him less bureaucratic and more empathetic to the causes of the sector, he claims.

When it comes to investments, we feature two very interesting pieces. The first one deals with pension funds’ investment policies for the present year. As the SELIC (basic interest rate of the economy) remains high, at about 13,75%, federal government bonds have been the most prominent asset class in institutional portfolios. However, there are also high-yield allocations in Private Equity Funds - know in Brazil as FIPs - that are worth becoming acquainted with.

Still in the investment sphere, we highlight the advances made in the ESG arena, such as the work carried out by a number of public and private entities to develop a Brazilian taxonomy, as well as the performance and latest actions of the Carbon Disclosure Project, that has been active in the country since 2006.

On the institutional side, we lay out the main points of ABRAPP Group’s Strategic Planning for 2023 and 2024, whose actions and projects envisage a 10-year prosperous period, in addition to the Association’s numerous initiatives throughout its 45 years of existence, a period filled with struggles and victories in favor of the occupational pension system.

Hope you enjoy the reading!

Flavia Silva
Editor-in-Chief