Petrobras will disburse R$4 billion to cover the gap in the employee pension fund left by Bolsonaro

The resources will be used to cover a deficit of R$8.5 billion calculated in fiscal year 2021.

Felipe Moreira the information – Petrobras will disburse R$4.012 billion to cover a R$8.5 billion shortfall provided by one of its private pension plans for its employees, the Petrobras Scheme-Renactuados (PPSP-R).

According to the state-owned company, the gap was found in fiscal year 2021 and included in the 2021 Deficit Equalization Plan (PED2021). However, R$8.5 billion refers to what was calculated in December last year.

PED2021 aims to strengthen the foundations for the PPSP-R equity reconfiguration, by imposing an extraordinary contribution from Petrobras and its participants, in addition to the extraordinary contribution of the deficit equalization plan, referring to the result of fiscal year 2018 (PED2018), which began in 2020, with the aim of Rebalancing the plan’s assets and liabilities,” the statement read.

And the oil company informed that an amount of 4 billion Brazilian riyals will be paid in monthly installments, during the entire period of the plan, whose useful life is estimated at 93 years. As security, the state-owned company agreed to provide a promissory note for the amount owed.

Follow up on recommendations

Finally, the memo notes, “The operation is beneficial to Petrobras by balancing the pension plan and providing greater postemployment security for its employees, as PED2021 seeks to rebalance the plan’s assets and liabilities.”

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