Petrobras Comments On New Pension Plan (PP-3)

(Petrobras, 18.Jan.2021) — Petrobras, following up on the release disclosed on 1 October 2020, informs that the Petros Deliberative Council and the company’s Board of Directors have approved a new version of the documentation for the opening of the Petros Plan 3 (PP-3) and migration process, after the conclusion by Petros of the adjustments requested by the National Private Pension Superintendence (PREVIC).  

The process will proceed for approval by the Secretariat for Coordination and Governance of State Owned Companies (SEST) and final approval by PREVIC. The expectation of approval by the inspection agencies is until February 2021. The start of operation is scheduled for the second quarter of 2021, since the new plan will also undergo a technical and administrative feasibility study, which can only be completed after the definition of the mass of participants who will have opted for PP-3.

PP-3 will be a private pension option exclusively aimed to voluntary and timely migration of participants and those assisted by Petrobras Renegotiated and Non-Renegotiated Petrobras System’s Petro plans (PPSP-R and PPSP-NR), both of them created after the 1970s.

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