Capof

What Capof does

CAPOF (Caixa de Assistência e Aposentadoria dos Funcionários do Banco do Estado do Maranhão) is a Brazilian closed private pension entity (entidade fechada de previdência complementar, EFPC) founded on May 15, 1967, and headquartered in São Luís, Maranhão. Originally created and sponsored by Banco do Estado do Maranhão S.A. (BEM), CAPOF transitioned sponsorship to Banco Bradesco S.A. in February 2004 when Bradesco acquired BEM via public auction. Following Bradesco's Empty Sponsor Withdrawal (Retirada Vazia) approved by PREVIC in September 2023, CAPOF now operates without an active corporate sponsor and administers only the Plano Misto de Benefícios (PMB), a variable-contribution supplementary pension plan, after the Plano de Benefício Definido (PBD) was closed and migrated into PMB in January 2023.

The entity's core products are the PMB pension plan (covering retirement supplementation, disability retirement, death pension, sickness allowance, and death benefits), the Plano de Gestão Administrativa (PGA) for administrative cost management, and a participant loan program offering preferential rates (0.50% per month + IPCA, plus 1.50% admin fee and 3.00% FQM fee). Supporting services include investment management reporting, actuarial demonstrations, financial education content, and a participant self-service portal. Technology is described as standard actuarial and administrative systems with no proprietary AI/ML components. Distribution is entirely employer-based payroll deduction, augmented by a physical service office at Jaracati Shopping and the online participant portal.

Revenue mechanics are contribution-driven and non-commercial in nature: regular monthly contributions from active participants and sponsoring companies, calculated as percentages of participation salary, supplemented by investment returns on plan assets and financial charges on participant loans. With 8 employees and a closed legacy participant base (no new enrollments post-2023), CAPOF operates as a small, regulatorily-constrained administration entity under PREVIC oversight and Lei Complementar 108/2001 and 109/2001. The entity is governed by a Deliberative Council and Fiscal Council and has received ABRAPP Engagement Seals (Gold 2022, Silver 2023, Gold 2024).

Name

Capof

Legal name

Caixa de Assistência e Aposentadoria dos Funcionários do Banco do Estado do Maranhão

Website

https://capof.org.br

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

1–10 employees

Short description

CAPOF is a Brazilian closed private pension entity (EFPC) headquartered in São Luís, Maranhão, administering the PMB supplementary pension plan for legacy participants formerly employed by Banco do Estado do Maranhão and Banco Bradesco. It provides retirement, disability, and death benefits plus participant loans under PREVIC regulation.

Ownership category

akta.pro rank

Product category

Private Pension Administration

NAICS

Pension Funds (52511)

SIC

Life Insurance (6311)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industry

Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)

Keywords

• Private pension administration
• Supplementary pension plans
• Closed pension fund
• Pension benefit management
• Participant loan services

Headquarters

HQ city

São Luís

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Others

Revenue model

1. Participant Contributions: Regular monthly contributions from active participants (participantes) calculated as a percentage of their participation salary (Salário de Participação). Contributions include normal basic contributions for programmed benefits, risk contributions for risk benefits, administrative contributions, optional additional contributions, and extraordinary contributions for deficit coverage.
2. Sponsor Contributions: Monthly mandatory contributions from sponsoring companies (Patrocinadoras) calculated as a percentage of participants' participation salaries. Includes normal contributions for programmed benefits, risk contributions, administrative contributions, and extraordinary contributions.
3. Investment Returns: Returns generated from investment of plan assets and patrimony, which contribute to funding pension benefits.
4. Loan Interest Income: Financial charges on loans provided to participants and retirees, including 0.50% per month plus IPCA variation, 1.50% administration fee, and 3.00% Death Settlement Fund (FQM) fee.
5. Assisted Contributions: Contributions from retirees (assistidos) calculated as a percentage of their participation salary, deducted from their monthly benefit payments. Includes normal, administrative, and extraordinary contributions.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

CAPOF administers the closed Plano Misto de Benefícios (PMB), a variable-contribution supplementary pension plan providing retirement, disability, death pension, sickness allowance, and death benefit supplements to employees and retirees of its sponsoring companies. It also operates the Plano de Gestão Administrativa (PGA) for administrative cost transparency, an in-house personal loan program for participants at preferential rates, plus investment management, actuarial/Seguridade reports, and accounting disclosures.

Product overview

CAPOF operates as a closed supplementary pension entity (entidade fechada de previdência complementar) administering two core plans: the Plano Misto de Benefícios (PMB), a variable contribution pension plan currently closed to new adhesions, and the Plano de Gestão Administrativa (PGA), which manages administrative costs. Supporting services include a loan program for participants and retirees, financial education resources, investment management, actuarial services, and accounting information. The entity also provides a participant portal, blog with news, and various downloadable regulatory documents and reports.

Differentiator

Problem solved

Functional benefit

Products and services

• Plano Misto de Benefícios (PMB) Closed supplementary pension plan with variable-contribution characteristics offering retirement supplementation, disability pension supplementation, death pension, sickness allowance supplementation, and Pecúlio por Morte to participants and retirees of sponsoring companies.
• Plano de Gestão Administrativa (PGA)

Quantifiable outcome

• 95% participant adoption rate for PMB plan when introduced in 1999
• +1 more outcomes

Named customers2 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

Six partnerships are on record, tiered core and minor.

• PREVIC (Superintendência Nacional de Previdência Complementar)coreOthersRegulatory oversight body for Brazil's closed private pension sector. CAPOF is regulated and supervised by PREVIC under Ministry of Finance.
• ABRAPP (Associação Brasileira das Entidades Fechadas de Previdência Complementar)coreStrategic or Co-development PartnerBrazilian association of closed private pension entities. CAPOF is a member and has received multiple Selo de Engajamento Abrapp awards (Gold 2022, 2024; Silver 2023).
• UniAbrappminorStrategic or Co-development PartnerEducation platform by ABRAPP that consolidates financial and pension education content from member entities. CAPOF provides access to educational resources through its Financial Education section.
• FEBRABAN (Federação Brasileira de Bancos)minorGTM or Marketing PartnerCAPOF provides links to Meu Bolso em Dia, FEBRABAN's financial education portal, offering resources on debt control, savings, investments, and responsible credit use.
• INSS (Instituto Nacional do Seguro Social)minorOthersBrazil's national social security institute. CAPOF shares INSS calendars and information about pension benefits, and directs participants to Programa de Educação Previdenciária (PEP).
• PREVIC (Portaria Previc nº 837, September 2023)coreOthersApproved the Empty Sponsor Withdrawal Process (Retirada Vazia do Patrocinador) for Bradesco, closing the PBD plan and extinguishing its CNPB and CNPJ in September 2023.

Scale indicators6 records

Recent moves9 records

Expansion highlights3 records

Direct peers

• PETROS: Fundação Petrobras de Seguridade Social, one of Brazil's largest closed pension entities serving Petrobras employees. Comparable as a large corporate-sponsor EFPC administering defined contribution and benefit plans with similar actuarial, investment, and benefit-payment structures.
• Centrus: Fundação dos Economiários do Banco Central, closed pension entity serving Banco Central do Brasil employees. Comparable small-to-mid sized EFPC with focused participant base, actuarial management, and PREVIC oversight.
• PREVI: Caixa de Previdência dos Funcionários do Banco do Brasil, one of Brazil's largest closed private pension entities (EFPC). Direct peer operating in identical regulatory regime under PREVIC, serving employees of a sponsoring bank, with comparable pension plan, loan, and benefit administration services.
• Itausão: Closed private pension entity serving Itaú Unibanco employees, regulated by PREVIC. Directly comparable as a bank-sponsor EFPC with similar participant base characteristics, benefit structures, and regulatory framework.
• Real Grandeza: Fundação de Previdência e Assistência Social serving Furnas/Eletrobras employees. Comparable as a closed EFPC administering retirement, health, and welfare benefits with investment management and participant loan programs under PREVIC regulation.
• FUNCEF: Fundação dos Economiários Federais, a closed private pension entity serving Caixa Econômica Federal employees. Directly comparable as a bank-employee EFPC operating the Plano de Benefícios and administering retirement, death, and disability benefits under the same PREVIC oversight.
• VALIA: Fundação Vale do Rio Doce de Seguridade Social, a closed pension entity serving Vale employees. Comparable as a single-sponsor EFPC operating variable contribution plans with loan programs, investment management, and participant service portals.

Emerging players

• Fundação CESP: Closed pension entity serving CESP (Companhia Energética de São Paulo) employees. Comparable as a smaller single-employer EFPC navigating similar plan migration and sponsor-related challenges in Brazil's closed pension sector.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/capofma
• Instagraminstagram.com/capofma
• LinkedInlinkedin.com/company/capof

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

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 Capof