Fusesc

What Fusesc does

Fusesc (Fundação CODESC de Seguridade Social) is a closed supplementary pension entity (EFPC - Entidade Fechada de Previdência Complementar) founded in 1978 and headquartered in Florianópolis, Santa Catarina, Brazil. The entity manages defined benefit and defined contribution pension plans for employees and retirees of its sponsor companies, primarily Banco do Brasil (which acquired the original sponsor CODESC, the Banco do Estado de Santa Catarina), BADESC (Santa Catarina's state development bank), and SIM (state information entity, with 40+ years of partnership). Fusesc holds over R$ 3 billion in assets under management and paid more than R$ 171 million in retirement and survivor benefits in 2021. The entity is regulated by PREVIC (Superintendência Nacional de Previdência Complementar) and recognized as one of the most efficient closed pension entities in Brazil, ranking among the top 15% of performers in 2022.

The core product portfolio comprises three pension plans: Plano de Benefícios I (defined benefit), Plano Multifuturo I (defined contribution with variable income), and Plano Multifuturo II (defined contribution with enhanced contribution flexibility). Supporting services include Crédito Consciente Fusesc (participant loans), a self-service portal accessible via web and WhatsApp, the Programa A Escolha Certa financial education program, the Fala Fusesc podcast series, and a Benefits Simulator launched in 2024. In 2025, Fusesc executed its first surplus distribution from Plano Multifuturo I, and the entity operates a multi-channel participant engagement strategy including Encontros Regionais (regional in-person events reaching 600+ participants across Santa Catarina cities), podcast content, Instagram, and WhatsApp messaging.

Fusesc is structured as a non-profit foundation governed by a Deliberative Council and Fiscal Council with sponsor and participant representation. Its business model relies on mandatory and voluntary pension contributions collected via sponsor payroll deduction, investment portfolio returns on plan assets, and interest income from participant loans. Administrative costs were reduced 17% over three years, reflecting operating efficiency. Loading fees on plans have been eliminated ('FUSESC ZERA TAXA DE CARREGAMENTO DOS PLANOS'), enhancing participant value. The go-to-market motion is entirely sales-led through direct sponsor relationships rather than open-market distribution, and the entity has no parent company, no subsidiaries, and no external funding rounds, operating as a self-sustaining participant-owned pension structure.

Name

Fusesc

Legal name

Fundação CODESC de Seguridade Social

Website

https://fusesc.com.br

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1–10 employees

Short description

Fusesc (Fundação CODESC de Seguridade Social) is a Brazilian closed supplementary pension entity (EFPC) managing R$ 3 billion+ in assets to provide retirement, disability, and survivor benefits to employees and retirees of sponsor companies including Banco do Brasil, BADESC, and SIM.

Ownership category

akta.pro rank

Product category

Supplementary Pension Funds

NAICS

Pension Funds (525110), Pension Funds (52511), Insurance and Employee Benefit Funds (5251)

SIC

Services-Membership Organizations (8600), Life Insurance (6311)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industries

Retirement Income Planning & Decumulation Advisory (FSAEABAD), Retirement Plan Participant Advice & Managed Accounts (FSAEABAF)

Keywords

• Closed pension funds
• Supplementary pension plans
• Defined benefit pensions
• Defined contribution pensions
• Pension participant loans

Headquarters

HQ city

Florianópolis

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Pension Contributions: Fusesc generates revenue through mandatory and voluntary contributions from active participants (participantes) and sponsor companies. Contributions are pooled into investment portfolios to fund future pension benefits.
2. Investment Returns: Returns from the investment portfolio of pension plan assets contribute to the overall financial health and ability to meet benefit obligations.
3. Loan Operations (Crédito Consciente Fusesc): Fusesc offers credit loans to participants and retirees, generating interest income from these financial products.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Fusesc – Fundação CODESC de Seguridade Social is a closed supplementary pension entity (EFPC – Entidade Fechada de Previdência Complementar) founded in 1978 that establishes and maintains pension benefit plans for employees and retirees of its sponsor companies, including Banco do Brasil, BADESC, and SIM. It manages defined benefit and defined contribution plans (Plano de Benefícios I, Plano Multifuturo I, and Plano Multifuturo II), pool participant contributions into investment portfolios, and pay monthly retirement, survivor, and disability benefits. Supporting offerings include a participant loan product (Crédito Consciente Fusesc), investment management reporting, and the A Escolha Certa financial education program.

Product overview

Fusesc is a closed private pension entity (EFPC) offering a portfolio of defined contribution pension plans. The core offerings include Plano de Benefícios I, Plano Multifuturo I, and Plano Multifuturo II, which provide retirement savings accumulation with employer sponsorship. Supporting services include a Benefits Simulator for projections, Crédito Consciente Fusesc loan products, investment management with profitability reporting, and the Programa A Escolha Certa financial education program. The entity also provides self-service portal access via multiple channels (WhatsApp, chat, email).

Differentiator

Problem solved

Functional benefit

Brands

• Programa A Escolha Certa: Financial education program for participants
• Plano de Benefícios I
• Plano Multifuturo I
• Plano Multifuturo II
• Crédito Consciente Fusesc
• Fala Fusesc
• Fusesc Comunica

Products and services

• Plano de Benefícios I Defined benefit pension plan offered by Fusesc that provides retirement, disability, and survivor benefits to participants of sponsor companies (Banco do Brasil, BADESC, SIM).
• Plano Multifuturo I Defined contribution pension plan allowing participants to accumulate retirement savings with employer matching contributions and variable income features.
• Plano Multifuturo II Supplementary defined contribution pension plan with enhanced flexibility for participant-driven contribution adjustments and variable income.
• Crédito Consciente Fusesc (Empréstimos) Loan product offering credit to Fusesc pension plan participants and retirees at competitive rates, including a loan simulator and contract execution services.
• Gestão de Investimentos Investment management services covering pension portfolio profitability reporting, published investment policies, financial statements, and real estate offerings made available to plan participants.

Quantifiable outcome

• Reduced administrative costs by 17% over 3 years
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• CELOScoreStrategic or Co-development PartnerFusesc and CELOS celebrate a strategic partnership to strengthen pension services. This collaboration aims to enhance and expand services offered to participants.
• SESCminorStrategic or Co-development PartnerFusesc signed a cooperation agreement with SESC (Serviço Social do Comércio) providing benefits to participants and retirees.
• Banco do BrasilcoreStrategic or Co-development PartnerPrimary sponsor company whose employees and retirees participate in Fusesc pension plans. Fusesc maintains regular engagement with Banco do Brasil leadership including board meetings and director appointments.
• BADESCcoreStrategic or Co-development PartnerState development bank of Santa Catarina acting as a sponsor company for Fusesc pension plans.
• SIMcoreStrategic or Co-development PartnerState information entity serving as sponsor company. Fusesc celebrated 40 years of partnership with SIM and participates in SIM's 40th anniversary events.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Postalis: Closed pension fund of Correios employees. Comparable EFPC structure offering multiple benefit plans, loans to participants, and PREVIC-regulated operations.
• Petros: Closed pension fund of Petrobras employees, one of Brazil's largest EFPCs. Directly comparable as a sponsor-tied EFPC offering multiple benefit plans, investment management, and loan products to participants.
• Real Grandeza: Closed pension fund associated with Furnas/Eletrobras. Comparable EFPC structure managing multiple benefit plans with similar sponsor-concentration dynamics and regional operating footprint.
• Previ: Brazil's largest closed pension fund, serving Banco do Brasil employees. Directly comparable EFPC structure with defined benefit and defined contribution plans, sponsor-concentrated membership, and PREVIC oversight.
• Banesprev: Closed pension fund serving Santander/Banespa employees. Comparable EFPC offering defined benefit and contribution plans with similar loan and educational service portfolio.
• Capef: Caixa de Previdência dos Economistas, a closed pension fund serving Caixa Econômica Federal economists. Directly comparable EFPC operating multi-plan structure under PREVIC supervision.
• Itaipu (Fundação Itaipu): Closed supplementary pension entity serving Itaipu Binacional employees. Comparable EFPC model with multi-plan structure, participant loans, and regulated by PREVIC.
• Funcef: Closed pension fund of Caixa Econômica Federal employees. Comparable EFPC structure with multiple defined benefit and contribution plans, participant loans, and educational programs.
• Valia: Closed pension entity serving Vale employees. Directly comparable EFPC offering defined contribution plans, loan programs (Crédito Consciente Valia analogue), and participant education services.

Broad incumbents

• Brazilprev: Open pension entity (EAPC) jointly owned by Banco do Brasil and Principal Financial. Comparable in product suite (PGBL/VGBL retirement plans) but operates in the open market rather than as a closed sponsor-tied EFPC like Fusesc.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzJ5iKdG1e4pYLY5kxMpV8Q
• Instagraminstagram.com/fusescoficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fusesc