Rioprevidência announces reversal of funding resources for benefits
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The Single Social Security Fund of the State of Rio de Janeiro (Rioprevidência) released this Tuesday (9) a measure that allocates surplus resources from the fund that covers its expenses for the payment of social security benefits.
The Single Social Security Fund of the State of Rio de Janeiro (Rioprevidência) released this Tuesday (9) a measure that allocates surplus resources from the fund that covers its expenses for the payment of social security benefits. The municipality also announced that it is adopting more conservative investment criteria.
The body is responsible for managing and guaranteeing the payment of pensions for state public servants in Rio de Janeiro and was recently cited in the Master Case for suspected irregular purchases of billions in letters of credit.
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According to Rioprevidência, with the new rule, at the end of each month, the amounts in the Administrative Fund that exceed 150% of the municipality's expenses in the previous 12 months will be reverted to the payment of retirement and pensions.
The measure was approved by the institute's executive board on the 2nd and the expectation is that around R$ 100 million will be allocated to this new destination by the end of this year. The rule will be submitted to the Rioprevidência Board of Directors, which has an ordinary session scheduled for the end of June.
The CEO, Felipe Derbli, states that, in addition to reinforcing the payment of benefits, the measure will function as a mechanism to limit expenses for the future.
The executive board also decided that the Administrative Fund's investments will follow more conservative, short-term and greater liquidity criteria. The authority's objective is to have greater security in the application of the fund's resources, preventing higher risk investments.
“There is no sense in submitting Rioprevidência’s administrative funding resources to long-term investments, which are naturally more risky”, stated Felipe Derbli.
Applications on Master
On May 26, the Federal Police carried out the eighth phase of Operation Compliance Zero, with the purpose of investigating the involvement of former governor Cláudio Castro in the irregular application of around R$3 billion from the Rio de Janeiro civil servants' pension fund in Letters of Credit and Banco Master funds.
According to a partial report from the PF, between October 2023 and July 2024, Rioprevidência contributed R$970 million in Financial Bills from Banco Master. The information was received by STF minister André Mendonça, rapporteur of the Master Case.
Subsequently, from December 2024 to October 2025, in the face of regulatory obstacles, new contributions were made to funds structured by the same group, in the order of R$2.01 billion.
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