According to deputy Romero Albuquerquedependents and servants of the chef have been paying, since April, a loss caused by unsuccessful investments. They would have generated, according to the parliamentarian, a million-dollar debt for more than 50,000 people in the state-owned Social Assistance and Security Foundation.
As the parliamentarian says, the Deliberative Council of FACHESF would have approved sacrificing the pensions of pensioners, active participants and their dependents, in order to mitigate the financial hole, which reaches around R$ 800 million.
Albuquerque says that over the next 17 years, there will be a deduction of approximately 20% on the benefit of all those assisted. “There are cases in which the discount reaches R$6 thousand reais”, informs the deputy.
The terms of equating the division between retirees and pensioners and the sponsor chef, according to the deputy, were approved without any transparency. In addition, a new equation would already be foreseen for 2023, the may will again sacrifice the supplementation of retirement.
Fachesf is a closed supplementary pension entity that manages the civil servants’ pension fund. Equity is made up of monthly contributions from active, inactive and sponsor Chesf, so that, given retirement, the amount received corresponds to the salary in the period in activity.
“Unfortunately, these servers, today, live with uncertainty, as there are not enough resources to pay the benefit in the long term. Furthermore, due to the lack of dialogue and transparency, they were not allowed to adapt to the new financial reality”, Albuquerque points out.
According to the congressman, the employees claim that the actuarial deficit is paid, for the most part, by the sponsor Chesf, which controls Fachesf. According to them, they would be responsible for events that directly contributed to the debt.
It appears in the analysis of the servers that errors such as the decision not to equate successive deficits annually and the insufficient return on investments are directly linked to the situation. “The division of the loss as it is being done, with most of it being borne by retirees and pensioners, is only advantageous for Chesf itself”, the deputy evaluates.
The report tried to contact the communication of Chesfwho responded on Wednesday:
Chesf hits Romero Albuquerque
The full response of Fachesf’s Executive Board follows:
Due to the news published on Jamildo’s Blog, on the morning of 06/28, the Chesf Foundation for Assistance and Social Security – Fachesf clarifies that:
1) There is no threat of interruption in the payment of supplementary retirement to its Participants. All measures to maintain Fachesf’s financial health are being taken and there are no data or facts that point to the risk of non-compliance with its obligations.
2) Claims that current deficits were caused by unsuccessful investments are untrue. Fachesf follows an Investment Policy that values the execution of resources in a judicious manner and in accordance with current legislation. The results obtained are compatible with the best market practices and can be verified when compared with the performance of other open or closed entities.
3) Notably in the last two years, there has been a sharp increase in the IGP-M (index used for the annual readjustment of Fachesf’s retirement benefits), compared to the IPCA. This mismatch had a strong impact on the Foundation’s results, being one of the main reasons for the deficit in the Defined Contribution Plan – CD. It should be noted that an actuarial deficit – as well as a surplus – is an inherent condition of any pension plan of a lifetime nature.
4) The 19.37% discount on the benefit is being made to a group of 2,237 retirees and pensioners of the Defined Contribution Plan – CD, with equal participation of the sponsors (Chesf and Fachesf), as required by law. This extraordinary contribution serves precisely to guarantee the sustainability of the Plan and the fulfillment of its obligations in the future. It is worth noting that the monthly retirement benefit paid by Fachesf, in June/2021, was readjusted by 37.04% and, in June/2022, by 10.72%, both according to the IGP-M, as determined by the current Regulation of the Plan .
5) Fachesf, throughout the entire process, gave full transparency and publicity to the matter, making actuarial reports and other documents available on the Foundation’s website. In order to encourage dialogue and promote debate on the issue, a series of lives (online meetings) were and continue to be held, in addition to the publication of notes, emails, messages and communications addressed to the Participants involved.
6) For exactly 50 years, Fachesf has been honoring its commitment to pay the benefits of around 9,000 Retirees and Pensioners on time. As the administrator of pension and health care plans, the entity’s services directly benefit approximately 30 thousand people, including retirees, pensioners, active contributors and their dependents.