Regulatory Alerts2023-11-23
Added · Updated
Compilation of Pension Fund Control Regulations - Modifications based on Law No. 20.130 of May 2, 2023
The Financial Services Superintendence modifies the calculation of the Special Reserve for Pension Savings Fund Administrators, setting the applicable percentage at 0.20% of each subfund starting December 1, 2023, and establishes the regulatory framework for the new Voluntary Pension Fund. The resolution defines the Voluntary Pension Fund's applicability of existing articles, profit distribution bases, and specific annual nominal and real profitability calculation methods. It also updates the composition of the Pension Savings Fund, specifying the transfer of assets from the Accumulation Subfund to the Growth Subfund, and revises the rules for quota variations, profitability rates, and primary market investment conditions.
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