Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 145

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 4
Chunk 145
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 or formalize operations through electronic signature represents 88% of the total.
 
Ø  Pension Plans
 4.B.30.02-01.05 Pension plans
 We have managed individual and corporate pension plans since 1981 through our wholly-owned subsidiary Bradesco Vida e Previdência, which is now one of the leading pension plans managers in Brazil, as measured by investment portfolio and technical provision criteria, based on information published by FENAPREVI and SUSEP.
 Bradesco Vida e Previdência offers and manages a range of individual and group pension plans. Our plans for individuals with higher contractual acceptance (in terms of contributions) are VGBL and PGBL and are not subject to income tax at source generated by the fund portfolio. The participants of these funds are taxed upon the redemption of quotas, and/or receipt of benefits.
 As of December 31, 2024, Bradesco Vida e Previdência accounted for 23.2% of the pension plans in terms of contributions, according to SUSEP. As of December 31, 2024, Bradesco Vida e Previdência accounted for 22.1% of all pension plan assets under management: 21.1% of VGBL, 20.8% of PGBL and 43.8% of traditional pension plans, according to FENAPREVI.
 Brazilian law currently permits the existence of both “open” and “closed” private pension entities. Open private pension entities are those available to all individuals and legal entities wishing to contract a plan by making regular contributions. Closed pension plan entities are those available to discrete groups of people such as employees of a specific company or a group of companies in the same sector, professionals in the same field, or members of a union. Private pension entities grant benefits on the basis of periodic contributions from their members, or their employers, or both.
 As of December 31, 2024, we managed open pension plans covering 3.2 million participants, with a total balance of R$347 billion in collateral assets.
 As per the rules of VGBL and PGBL plans, participants are allowed to make contributions either in installments or in lump-sum payments. Participants in pension plans may deduct the amounts contributed to PGBL of up to 12.0% of the participant’s taxable income when making their annual tax declaration. Under current legislation, redemptions and benefits are subject to withholding tax on the