Contributions to open private pensions in the country reached R$146.9 billion during the first nine months of 2024, according to the latest report prepared by the National Federation of Private Pensions and Life (Fenaprevi).
The amount represents an increase of 17.6% compared to the same period last year.
On the same basis of comparison, redemptions increased by 3.4%, totaling R$99.3 billion, and net inflow of R$47.7 billion, an increase of 64.6%. The values do not consider inflation for the period.
According to Fenaprevi, there are more than 14 million open private pension plans in Brazil, 80% individual and 20% collective.
“The scenario of recovery in employment and income contributed to the sector’s results. Added to this we have increased concern about aging and the need for more financial resources for longer”, explains Edson Franco, president of Fenaprevi.
The Vida Gerador de Benefícios Livres (VGBL) plans are the most popular for those who subscribe to private pensions. In total, there are 8.9 million plans contracted, responsible for 92% of total funding in the period, approximately R$135 billion.
This type of pension plan is aimed at those who are exempt or declare Income Tax using the simplified model.
The Free Benefit Generator Plan accounted for 22% of the contracts sold, raising R$9.1 billion, 6% of the total collected.
The modality is used by taxpayers who file their Income Tax declaration using the complete model, that is, who have more expenses to deduct.
The remaining 15% are traditional open private pension plans, which represent 2.2 million contracts and R$2.2 billion in contributions in the time period analyzed.
In September 2024, assets in private pension plans exceeded R$1.5 trillion.
