This study aims to quantify the safety loading on the standard actuarial liability of Brazilian Supplementary Private Pension Plans - EFPCs, for entities of different sizes, thus emphasizing the effect of the "number of insureds" variable on the established level of contingency loading, in view of the desired solvency chance. By means of an exploratory study, including bibliographic and experimental research, safety loading rates were determined for several insurance arrangements. The study results show that the loading rates of EFPC liabilities sharply decrease as the number of insureds increases, for each stipulated solvency level Moreover, the need for high loading rates pose important difficulties for small and medium firms - PMEs to undertake a private pension plan by themselves. Finally, some alternatives and suggestions are presented in order to permit PMEs to sponsor a pension plan in already functioning EFPCs: improve, stimulate and disseminate flexible pension arrangements, to be operated by multisponsored EFPCs, to cover insureds of different sectors and firms ana with distinct insurance needs.
Pension Fund; Actuarial Science; Finance; Small and Medium Firms; Brazilian Supplementary Private Pension Plan System; Solvency
