FUNPRESP: the privatization of social security for federal public servants

Abstract:

This article aims to investigate the consequences of the creation of the Federal Public Service Complementary Pension Foundation (FUNPRESP) since Law nº 12.618/2012 and the modifications with EC nº 103/2019 federal executive servants. Such measures boosted the logic of privatizing social security for public servants. Based on information on the financial Investments of contribution from federal executive Workers, State resources and the normative acts implemented, this text will demonstrate the risks and insecurities of a social security system with an individual capitalization regime. It is therefore concluded that the establishment of FUNPRESP expresses yet another measure with the prospect of privatizing social security in Brazil, removing the rights of Workers and demonstrating the interests of the State and the financial capital of expropriation of public funds as a strategy for capitalism in deep crisis.

Keywords:
FUNPRESP; Public Fund; Capitalization; Social Security