Postalis: Correios employees go to court – 06/23/2023 – Panel SA

Adcap, the association that represents Correios professionals, filed a lawsuit against Postalis –a billionaire supplementary pension fund for employees– demanding reimbursement for accumulated losses.

The entity claims that the retirement system has not received adjustments since 2016 and already accounts for a deficit of R$ 12 billion.

In the action, the association calls for the accountability of public agents involved in the loss of earnings in recent years. It includes as defendants, in addition to Postalis, Sest (Secretary of the Ministry of Finance that coordinates state-owned companies), Correios, Previc (a body of the Ministry of Social Security that supervises supplementary social security entities).

Roberval Borges Correia, president of Adcap, states that, when a supplementary pension plan is unbalanced, it is necessary to adjust the company (sponsor) in the following year to avoid the expansion of the deficit.

“In the case of Postalis, this adjustment did not happen from 2016 to 2020. In 2020 it was approved [um programa de recuperação]but it should only be implemented in 2023. Therefore, there are seven years without the rebalancing”, says Correia.

In 2020, Postalis signed a Conduct Adjustment Term with Previc (National Supplementary Pension Superintendence), in which it committed to cover the gap from a PED (Deficit Equation Plan).

Since then, a long process of releasing the plan has begun and, according to the regulatory deadline, it should have already been completed. Approval needs stamps from Postalis, Correios, Sest and Previc —which has not yet happened.

Between 2020 and 2022, the fund generated a deficit of BRL 1.7 billion and now officials estimate that the delay in authorizing the plan will further increase the gap and, consequently, require new contributions from beneficiaries.

In a note, Postalis said it approved the PED in July 2021 and forwarded the process for approval by Correios and Sest. The return of the secretary of the Ministry of Finance happened only this year. On June 6, the PED was sent for approval by Previc. As soon as the Ministry of Social Security releases the equation, the plan will be implemented.

“Postalis is obliged to wait for these approvals and has already been warning that the delay increases the deficit of the plan”, he said.

Sest and Previc did not respond until the publication of this note

With Diego Felix

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