Our lawyers Ana Luiza Moerbeck and Thiago Araújo published an article in Revista Consultor Jurídico (ConJur) on the role of the Federal Court of Accounts (TCU) in relation to Closed Supplementary Pension Entities (EFPCs).

In recent decades, the model for supervising EFPCs has been structured on the basis of a functional duality: direct technical supervision, carried out by the National Superintendence of Supplementary Pension Funds (Previc), known as first-order control, and external control, exercised by the TCU over entities at the federal level, called second-order control.

However, the boundary between first and second order control soon became blurred. And, progressively, this understanding was revised within the TCU itself, which began to reject the idea of functional precedence between the bodies, affirming that there is no relationship of subordination between the actions of Previc and the TCU.

According to Ana Luiza and Thiago, this change paved the way for the expansion of the TCU’s activities over EFPCs, especially in cases where there is an injection of public funds or a relevant interest of the Union in the governance of these entities, which occurs in funds sponsored by state-owned companies.

To read the full analysis, access: https://www.conjur.com.br/2025-ago-04/o-mindset-do-tcu-na-fiscalizacao-de-fundos-de-pensao/