Leveraging tomorrow: A roadmap to maximize new participant enrollment in closed pension plans

Abstract

This technical manuscript proposes practical and strategic guidelines for private pension managers to increase the number of new beneficiaries enrolled in Closed Supplementary Pension Entities, non-profit institutions that manage private pension plans targeted at specific groups, such as employees of sponsoring companies and members of professional associations. By bringing together best practices in governance, communication, relationship management, and regulatory compliance, the manuscript proposes the adoption of strategies that encourage the entry of new participants and ongoing engagement, based on improved participant onboarding and retention processes. Given the low prevalence of supplementary pension plans among the Brazilian population, it is essential to adopt an approach centered on the participant experience, which goes beyond simply offering plans. This strategy should be complemented by the continuous promotion of financial and pension education, aiming to raise awareness about the importance of financial protection for the future. By strengthening individuals' understanding of the benefits and mechanisms of supplementary pension plans, an environment conducive to active engagement and sustainable participation is created. This helps to expand the participant base, increase the volume of contributions, and ensure the sustainability of the pension system, which is essential to address the demographic and economic challenges facing the country.