Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on January 27, 2021, informs that the validation stage of the enrollment of Petros Plan 3 (PP-3) was concluded, totaling 2,176 approved requests.
The technical and administrative feasibility studies of the new plan were completed and the Petros’ Executive Board certified its feasibility in a meeting held on this date, allowing its implementation.
The new plan is expected to start operating in August 2021. PP-3 starts as one of the 10th largest defined contribution pension plan in Brazil, in terms of assets.
The plan was an exclusive option for voluntary and punctual migration of participants and assisted parties from the Renegotiated and Non-Renegotiated Petrobras System’s Petros plans (PPSP-R and PPSP-NR), both post-70.
The option for migration to PP-3 is irreversible and irrevocable and terminates any and all ties to the original plan. Although the option for PP-3 implies the waiver of all rights in the plan of origin, until the migration is effective, the participant will have to fulfill all obligations in the PPSP-R or in the PPSP-NR and also continues with all original rights safeguarded until the start of operations of the new plan.