Last year in Brazil was marked by debate over how the pensions of the country’s population would be funded. This culminated in a failed attempt at reform, abandoned by the government before it even reached parliament (see article no. 10572). As a result, there has been growing interest in private pension plans. Numerous employers now offer to fund this added benefit in order to attract and maintain their best talent.
According to Brazil’s national private pension and life association (Fenaprevi), close to 26% of pension insurance contracts that were signed in 2017 were initially proposed by employees to staff. By offering the chance to benefit from such a scheme, human resources directors at many firms hope to attract and maintain certain staff members, in particular senior managers. Several firms have opted to include a minimum period of service clause in their offers, and so are using the benefit as...
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