Our partner Flavio Martins Rodrigues spoke to Valor Econômico in an article about a normative instruction recently published by the Federal Court of Auditors (TCU) that improves and delimits the agency’s inspection routine of private pension funds sponsored by state entities.

According to the newspaper, the measure establishes that the TCU can inspect entities with securities management that present actuarial deficits that can be equated – in other words, when members and the sponsor are called upon to make extraordinary contributions in order to balance the deficit.

In Flavio’s opinion, the Court should only act on Previc, the Secretariat for the Coordination and Governance of State Companies (Sest) and state sponsors, without interfering directly in pension funds.

“The funds are private in nature and were created precisely to separate the pension responsibility of the sponsors, operating independently. The TCU’s intervention could create an unwanted link between the sponsors and the pension plans, bringing legal and administrative risks that should be avoided,” he said.

Read the full article here.