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The PREVI Savings Fund Portfolio (Capec – Carteira de pecúlios) is a plan where the benefits are paid in a single lot and which works as life insurance. Developed exclusively for Banco do Brasil and PREVI employees, the Capec Plan is based on a simple distribution system, i.e., contribution amounts are reviewed annually according to yearly actuarial calculations to estimate management expenses and benefit payments for the next 12 months.
The vast majority of Benefits Plan 1 participants is already enrolled in Capec and PREVI has encouraged the enrollment of PREVI Futuro Plan participants. The increase in enrollment would help keep low contribution amounts for everyone and maintain Capec as the plan that charges one of the lowest monthly fees, without discriminating against age range, as most companies do.
With the launch of the campaign “Capec preserving what is most important: life”, and calls made by Customer Service, 2,143 participants enrolled in the Pension Fund by Death. 95% of these new participants belong to the PREVI Futuro Plan and 35% chose Plano Júnior, 18% chose Plano Pleno, 11% chose Plano Senior, 8% chose Plano Master, and 28% chose Plano Executivo. There was also a significant number of enrollments in two pension funds Disability and Spouse, which amount to, respectively, 823 and 434 new plans. Capec concludes 2009 with 112,240 participants, and 166,998 total active plans.
New Table
In May 2009, all benefit value ranges were readjusted in 9.09%. The contribution amounts of all pension funds were also readjusted, but mostly in lower percentage than the benefits: 5.95%, which corresponds to the INPC variation from February 2008 to January 2009.
Profitability in 2009 was 11.55%, higher than the interbank discount rate (9.93%) and the actuarial target (10.10%). Capec’s profitability is different from that of other plans because the investments concentrate on fixed income, since resources must show liquidity and must be immediately available for pension fund payments. The portfolio’s composition privileges investments made in LFT and NTN-B, respectively 39.58% and 21.68% of the total sum invested.
Payments
In 2009, Capec paid R$ 137.811 million to 2,979 beneficiaries.
PREVI Participants – December 2009
Capec Participants – December 2009
Note: There are 7,567 participants, related to pensioners, Bacen and Socapec, which add up to 112,240 Capec participants.
ENROLLMENT X CANCELLATION (YEARLY)
