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21/02/2024 | Fonte: SONHO SEGURO

Private pension: sector grows 8.8% in 2023, to R$170 billion

Source: Safe Dream. Denise Bueno. L Fenaprevi.

Amount corresponds to the total of premiums and contributions for the year. Deducting redemptions, the net value was R$42 billion, an increase of 28.4%, the highest result since the pandemic

Consolidated results for 2023 indicated that open private pension plans continue to grow in Brazil. According to the most recent report produced by the National Federation of Private Pensions and Life — Fenaprevi, the sector reached R$170.1 billion in (gross) funding in the period, registering an increase of 8.8% over 2022.

Redemptions grew at a slower pace than in previous years, closing the year at R$127.2 billion. Discounting redemptions from the total collected, there was a net inflow of R$42.9 billion, an expansion of 28.4% compared to 2022 and the best result in recent years.

Assets in private pension plans increased by 14.2% in 2023, and already total R$1.4 trillion, that is, the equivalent of 13% of the national GDP.

“The result is encouraging and consolidates the trend towards recovery in post-pandemic net funding. There were around 225 thousand new entrants in 2023, which is still modest considering the coverage deficit of the Brazilian population and the relevance of the product in our society, which is rapidly aging”, analyzes Edson Franco — president of Fenaprevi.

He explains that, in a way, the numbers reinforce executives’ confidence in 2024, but points out that the biggest challenge remains the same: bringing protection to more people. “Despite socioeconomic issues, it is possible to increase the level of family income protection with existing products and services through financial education, communication and awareness work among Brazilians”, he concludes.

VGBL: 90% of the collection was in this type of plan

The study also monitors the results by type of pension plan contract. In 2023, R$153 billion were collected in VGBL (Vida Gerador de Benefício Livre) plans, equivalent to 90% of the sector’s total revenue. The PGBL plans (Free Benefit Generating Plan) received 8.2% of applications, or R$14 billion, while the remaining R$3 billion was invested in Traditional plans, representing 1.8% of the total collected.

The country has 14 million plans

The year 2023 ended with 14 million private pension plans. Of this total, 62% were VGBL, 22% PGBL and 16% Traditional. At the same time, only 2.8 million are collective plans, signaling the industry’s growth potential in the national job market.

In terms of participants, there are already 11 million people who have some type of private pension plan in the country. Of these, 8.8 million are in individual plans, which is when the person themselves takes the initiative to contract private pensions. Another indicator that shows the possibility of this market advancing further in the coming years.

Link: https://www.sonhoseguro.com.br/2024/02/previdencia-privada-setor-cresce-88-em-2023-para-r-170-bilhoes/


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