Portus Pension Fund Dispute Ends After 20 Years, R$ 1.15 Billion Settlement Approved

On a September 2 meeting, more than 300 Portus Pension Fund beneficiaries approved a proposal by Sindaport (São Paulo State Stevedoring and Port Services Union), putting an end to a 20-year dispute over labor rights. The meeting, led by President Everandy Cirino, was attended by the President of Santos Port Authority (APS), Anderson Pomini, and APS directors Júlio Cézar de Oliveira (Administration and Finance) and Beto Mendes (Operations), as well as union leaders.

The end agreement, which is the result of extensive efforts to prevent the liquidation of Portus, will provide R$ 1.15 billion to more than 8,000 retirees and pensioners across Brazil. Pomini emphasized that the decision reflects the strong support of President Lula and Ministers Silvio Costa Filho and Márcio França. “With support from Lula and the ministers, unions made a significant legal and political effort to honor those who built the Port of Santos. This funding will indirectly benefit over 40,000 people in Brazil, with 52% being low-income families,” Pomini said. He congratulated the retirees, Cirino, and the attending lawyers and union representatives.

The proposal will now undergo the standard federal approval process. Once completed, it will directly benefit retirees and pensioners, including 3,949 in the Santos region, 592 in Espírito Santo (Codesa), 1,417 in Rio de Janeiro (CDRJ), 324 in Pará (CDP), 574 in Bahia (Codeba), and 1,195 participants of PBP1 (Portus Pension Benefits Plan) in other states.

The agreement includes several key benefits: the payment of a previously unpaid 13th salary installment for 2020, a 12.41% increase in monthly payments starting March this year, and adjustments based on national indices beginning January 2025. It also reinstates life insurance and death pensions for those who stopped receiving payments from 2020 onwards and allows for member payroll loans.

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