Chief Executive Officer - Rioprevidência · Chief Executive Officer Gustavo de Oliveira Barbosa...

CORPORATE GOVERNANCE

1st Quarter 2014 2

Chief Executive Officer

Gustavo de Oliveira Barbosa

Director of Administration and Finance

Luiz Cláudio Fernandes Lourenço Gomes

Director of Investments

Ciro Mauro de C. Giannini

Director of Social Security

Roberto Moisés dos Santos

Legal Director

Baltazar Rodrigues

Office of Corporate Governance

Alessandra Baldner Pontes

Almério Valente Bernacchi

Nathalia Tosto Meyer Oliveira

Vivian Campos Laia Franco


1st Quarter 2014 3

Single Social Security Fund for the

State of Rio de Janeiro

Rioprevidência was established under Law No. 3189 of

February 22, 1999, in the form of an Independent Public

Authority, for the purposes of managing the financial assets,

aiming to fund the payment of remuneration, pensions and

other social security benefits. Following the legal

requirement of Constitutional Amendment No. 41 of

December 19, 2003, Law No. 5109 of October 15, 2007

ordered the termination of the Instituto de Previdência do

Estado do Rio de Janeiro - IPERJ, transferring the authority,

management and payment of social security benefits to

Rioprevidência as provided under the state law, which

provides the pension system for civil servants in the State of

Rio de Janeiro and their dependents. On December 11,

2007, Law No. 5154 amending Annexes II and III of Law.

5109/2007. With the publication of State Law No. 5260, on

June 11, 2008, the own single Legal Regime for Social

Security of the Members of the Judiciary, Prosecutors, Public

Defenders Office, the Accounting Court and Statutory Public

Servants of the State of Rio de Janeiro, leaving

Rioprevidência to manage this pension system. On

December 18, 2008, with the publication of State Law 5352,

items have changed related to setting and updating

remuneration, pension through the death of the policyholder

and during imprisonment.

http://alerjln1.alerj.rj.gov.br/CONTLEI.NSF/c8aa0900025feef6032564ec0060dfff/f1051b4b5f2b485f0325680900665684?OpenDocument&Highlight=0%2C3189

http://alerjln1.alerj.rj.gov.br/CONTLEI.NSF/c8aa0900025feef6032564ec0060dfff/8ca9aff12c1a06888325737c005e9781?OpenDocument

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1st Quarter 2014 4

1. INSTITUTIONAL ............................................................................ 8

1.1 - PERSONNEL MANAGEMENT .......................................................... 8

1.2 - RIOPREVIDÊNCIA COST MANAGEMENT ..................................... 12

1.3 - INTERNAL AUDIT AND COMPLIANCE ......................................... 17

1.4 - INSTITUTIONAL IMAGE ............................................................. 20

1.5 - LEGAL ........................................................................................ 23

2. INVESTMENT MANAGEMENT ........................................................ 26

2.1 CASH FLOW ................................................................................. 26

2.2 - FINANCIAL INVESTMENTS ........................................................ 30

2.3 - FUND ASSETS ............................................................................ 35

2.4 - BUDGET ..................................................................................... 36

2.5 - REAL ESTATE PORTFOLIO .......................................................... 39

3. RETIREES AND PENSIONERS ....................................................... 43

3.1 - NUMBER OF RETIREES AND PENSIONERS ................................. 43

3.2 - SUMMARY OF BENEFIT PAYROLL FOR ALL STATE RETIREES AND

PENSIONERS ..................................................................................... 43

3.3 - COMPREV CORE ......................................................................... 45

4. 4. SERVICE CHANNELS................................................................. 50

4.1 - CUSTOMER SERVICE (SAC) ........................................................ 50

Toll free number - 0800 285 8191 ..................................................... 50

4.2 - OMBUDSMAN ............................................................................. 51

4.3 - AGENCIES, SERVICE OUTLETS, POUPA TEMPO AND MOBILE

UNITS ................................................................................................ 52

4.- SCHEDULED APPOINTMENTS ........................................................ 53

5. BOARDS ....................................................................................... 56

5.1 - BOARD OF DIRECTORS- CONAD ................................................. 56

5.2 - FISCAL COUNCIL - CONFINS ..................................................... 56

6. RIOPREVIDÊNCIA CULTURAL....................................................... 58


1st Quarter 2014 5

6.1 - NUMBER OF PARTICIPANTS ...................................................... 58

6.2 - ACTIVITIES ............................................................................... 58

6.3 - AGE GROUPS OF PARTICIPANTS ............................................... 60

6.4 - PARTICIPANTS BY RESIDENCAL AREA CODE ............................. 60

6.5 - PARTICIPANTS BY GENDER ....................................................... 61

6.6 - COST ......................................................................................... 61

7. SCHOOL OF FINANCIAL EDUCATION ............................................ 63

7.1 - PARTNERS ................................................................................. 63

7.2 - NUMBER OF PARTICIPANTS AND EXPENSE ............................... 64

8. HIGHLIGHTS ................................................................................ 68

8.1 - The Rioprevidência School of Financial Education - lectures at

APPAI ................................................................................................ 68

8.2 - The Rioprevidência School of Financial Education holds an event

to celebrate its third anniversary ...................................................... 68

8.3 - The Rioprevidência School of Financial Education is three years

old with impressive numbers ............................................................ 69

8.4 - Rioprevidência has a Carnival block .......................................... 70

8.5 Rioprevidência offers up positions for public applications. .......... 71

8.6 Rioprevidência revamps its website ............................................ 72

8.7 Rioprevidência invites Financial Institutions to Register ............. 72

8.8 State Public Servant Health Care Plan- Membership starts .......... 72

8.9 Rioprevidência simulates evacuation from its headquarters ........ 73


1st Quarter 2014 6

PRESENTATION

Based on the period January to March 2014,

this report aims to provide information that

enables policyholders, beneficiaries and the

general public to follow the main activities of the

Fund, taking into account the basic principles of

corporate governance: transparency, fairness,

accountability and social responsibility.


1st Quarter 2014 7


1st Quarter 2014 8

INSTITUTIONAL 1.

1.1 - PERSONNEL MANAGEMENT

The management of Rioprevidência personnel aims to constantly develop its public servant

workforce, for those holding operational, technical and managerial positions, through

qualification and certification.

1.1.1 - Composition of the Workforce

In the Q1 2014, the State Authority's workforce totaled 413 employees. This is a 1.43%

decrease compared to Q4 2013, with 419 employees.

Chart 01

Number of Active Employees (Units)


1st Quarter 2014 9

Chart 02

Composition of the Workforce (Q1 2014)

1.1.2 - Age groups and education

Chart 04 Statement - Age Group

Q1 2014


1st Quarter 2014 10

Chart 03

Statement - Education Q1 2014

1.1.3 - Courses

Table 1 (Courses)

JANUARY FEBRUARY MARCH

- Withholding taxes and social contributions

(16h, 2 employees)

- Savings from bids and Management Contracts

(16h, 3 employees)

-Management of Management

Contracts

(16h, 1 employee)

- Financial Planning and Control

(24h, 2 employees)

- Cash Flow and Capital

Management

(24h, 2 employees)

-Financial Investment

Management

(24h, 1 employee)

- Access

(20h, 2 employees)

- Accounting, Special and Control Accounts

(21h, 2 employees)

-Budgeting and Accounting

(28h, 1 employee)

- Cost Accounting

(16h, 1 employee)

- Development of Interpersonal

Relationships

(7h, 11 employees)

- Questions about Debt

(3h, 1 employee)

Practical Course on Registration

of Length of Service and Contribution in Public

Administration

(16h, 4 employees)

-Contract Management and

Inspection

- Financial Equilibrium in Administrative Contracts

(21h, 1 employee)

- Development of

Interpersonal Relationships

(7h, 11 employees)

- Compliance, Prevention of

Money Laundering and Operational Risk Management

(20h, 1 employee)

- Contract Management and

Inspection

(8h, 4 employees)

- Preparation of Basic project and

term of Reference

(16h, 22 employees)

- Ipoffice 500v2 8.0 Basic

Training

(12h, 2 employees)


1st Quarter 2014 11

- Personnel Agent (32h, 15 employees) - Workshop to prepare Basic project and term of Reference

(30h, 18 employees) - Prepare official text

- Intermediate Excel (30h, 14 employees) (8h, 17 employees)

(18h, 13 employees) - Fire Brigade

(4h, 17 employees)

(16h, 6 employees) - Advanced Course on Administrative Contracts

(16h, 4 employees)

1.1.4 - Rioprevidência Payroll - Gross Value (active employees in the workforce and

retirees of the State)

As shown in Chart 01, the number of State Agency employees show a slight decrease in Q1

2014 compared to the previous quarter. Regarding payroll, from January to March/2014,

there was an increase of 0.31% in the Rioprevidência pensioner payroll and an increase of

1.45% in the Fund's assets, as shown in Table 02. The graph below shows the increase in

payroll under the accrual basis, between Q4 2013 and Q1 2014.

Chart 05

Rioprevidência Payroll

(Monthly Statement - Q1/2014 in R$)

By analyzing the total amount paid in Q1 2014, compared to the previous period, there was

an increase of 0.74% in the total payroll of the State Agency (actives and retirees), as shown

in the following table.


1st Quarter 2014 12

Table 2

Gross payroll (accrual accounting)

Q4/2013 (R$) Q1/2014 (R$)

∆%

Retirees 9.733.399,57 9.762.776,28 0,31%

Rioprevidência Assets 6.039.076,93 6.126.451,15 1,45%

Total 15.772.476,50 15.889.227,43 0.74% Source: CRH/ATE

1.2 - RIOPREVIDÊNCIA COST MANAGEMENT

1.2.1 - Increase in Total Cost of Fund

There was little variation in the total funding in the Q1.

Graph 6

Changes in total cost of Rioprevidência (R$)


1st Quarter 2014 13

1.2.2 - Changes in Costs Split into Personnel, Management and Infrastructure

Graph 7

Percentage and quantitative changes in the cost distribution

1.2.3 - Cost Distribution by Board

The following graphs show that the Social Security Board, responsible for all procedural

management of the Fund benefits and the Management and Finance Board, department

through Rioprevidência, is responsible for approximately 60% of the costs in Q1, 2014.

Table 3

January (R$)

Presidency DAF DIN DJU DSE Channels

Personnel 146,682.68 553,362.64 150,644.18 121,281.27 374,524.36 329,546.18

Management 33,471.45 143,594.43 32,851.18 31,722.15 88,149.88 64,523.64

Infrastructure 79,390.23 38,073.87 11,741.43 12,580.10 55,766.38 75,348.64

TOTAL 259,544.36 735,030.94 195,236.79 165,583.53 518,440.62 469,418.46


1st Quarter 2014 14

Graph 8

Rioprevidência Cost January/2014

Table 4

February (R$)


Personnel 150,779.55 572,381.84 172,706.85 126,595.89 408,262.77 337,192.48

Management 35,760.85 141,034.58 34,680.20 32,120.05 110,634.57 79,541.19

Infrastructure 81,949.00 38,386.58 11,837.86 12,683.43 55,213.63 85,903.74

TOTAL 268,489.39 751,803.00 219,224.91 171,399.36 574,110.97 502,637.41

Graph 9 Rioprevidência Cost

February/2014


1st Quarter 2014 15

Table 5

March (R$)


Personnel 152,430.17 570,117.20 153,731.19 129,666.15 378,925.46 331,971.05

Management 45,019.40 140,894.45 33,620.21 32,008.73 81,886.45 66,521.14

Infrastructure 79,954.69 37,167.13 11,461.80 12,280.50 54,307.43 84,538.44

TOTAL 277,404.26 748,178.78 198,813.21 173,955.38 515,119.34 483,030.63

Chart 10

Rioprevidência Cost March/2014

1.2.4 - Changes in the largest aggregate cost

The three largest Rioprevidência costs are publications, postal costs and its own

Rioprevidência payroll.


1st Quarter 2014 16

Chart 11

Changes in publication cost (R$)

Spending on publication did not change greatly in Q1 2014.

Chart 12 Changes in postal costs (R$)

Due to a problem in the billing postal system, October's invoices were accumulated in the

month of January/2014.


1st Quarter 2014 17

Chart 13

Changes in costs of Rioprevidência own payroll (R$)

Own payroll costs for the State did not change during Q1 2014.

1.3 - INTERNAL AUDIT AND COMPLIANCE

1.3.1 - Investigations

In Q1 2014, TEC and MP Agencies answered 43 investigations. Compared to Q4 2013, there

was one less investigation in the period January to March. The most demand in Q1 came from

TBI with 41 demands, of which 10 were related to requests to the retirement and pension

processes. Compared to the Q1 2013, there was a decrease of 2.27%. The following charts

show the amount of investigations in Q1 2014 compared to the previous quarter and

compared to the Q1 2013.


1st Quarter 2014 18

Chart 14

Number of Measures (Units)

Chart 15

Number of Measures (Units)

1.3.2 - Tenders

In Q1 2014, three more Rioprevidência tenders were made compared to Q4 2013. In the

completed tenders in the period January to March/2013, Rioprevidência made a saving of

5.53% through Electronic auction, as shown in the following table and a gain of 3.22% in

Public Bidding.


1st Quarter 2014 19

Table 6

Event No. Object Type Event Date Proposed Amounts Final Estimated

E-01/008/682/2013 Modernization File Electronic Auction 01/24/2014 R$ 11,904,516.25 R$ 11,240,000.00

E-

01/008/3879/2013

Disposal of the

property located at

Rua Presidente

Vargas, Nos. 989

and 993 - Centro -

RJ

Public Tenders 02/10/2014 R$ 8,050,000.00 R$ 8,050,000.00

E-01/008/10/2014

Permission to Use

Property located at

Rua Siqueira

Campos, 243 - Part I

(including and after

243) - Copacabana -

Rio de Janeiro - RJ

Public Tenders 02/25/2014 R$ 6,300.00 R$ 15,000.00

E-01/339031/2012

Contracting a

company

specializing in the

rental and

maintenance

services, parts

supply, for two (2)

microfilm

scanner/readers.

Electronic Auction 02/27/2014 R$ 108,000.00 R$ 108,000.00

E-

01/008/4660/2013

Disposal of the

property located at

Rua Regente de

Feijó, No. 49 -

Centro - RJ

Public Tenders 03/10/2014 R$ 2,180,000. 00 R$ 2,500,500.00

Table 7

Type Estimated Value - Total Final Proposal - Total Gains / Economic

Electronic Auction 12,012,516.25 11,348,000.00 5.53%

Public Tender 10,236,300.00 10,565,500.00 3.22%

1.3.3 - Documenting Processes

Internal Control and Audit Management along with the Directors and Consultants are

documenting procedures for each of the Fund’s departments, aimed at improving their safety

and efficiency.


1st Quarter 2014 20

Table 8

Until January 2014 Number % (Compared to total)

DSE 16 88%

DAF 24 54%

DJU 5 100%

DIN 17 94%

AES 7 100%

1.4 - INSTITUTIONAL IMAGE

1.4.1 - Website

Following the principles of transparency and accountability, Rioprevidência discloses corporate

information on its website. There is space reserved for internet users with links on public use,

news, an open channel with an Ombudsman and social security information. In Q1 2014, the

site had 80,514 single hits, which represented a decrease of 7.37% compared to Q4 2013.

The number of visits for the quarter rose 16.10% to 189,825 visits. It decreased 5.66%

compared to Q1 2013. It is important to clarify that the number of hits is calculated based on

the total site visits and not on the number of single visits. For a better understanding, more

detailed information on site hits is show in the following table.

Chart 16

Number of website visits


1st Quarter 2014 21

Chart 17 Number of website visits

Table 9

Information - Site Q4 2013 Q1 2014 ∆%

Number of single visitors 80,514 95,887 19.09%

Visits (number of visitor hits) 163,503 189,825 16.10%

Average hits per visitor 2.02 6.58 252.74%

Page views (number of pages accessed in visits) 329,851 430,696 30.57%

Average pages accessed per visit 2.02 6.67 230.20%

Bounce Rate 67% 63.40% -3.60

Source: GIN

Note: Bounce rate only refers to No. of homepage hits.

1.4.2 - Media

In Q1 2014, the Rioprevidência Communication department presented the results of 56

published articles about Rioprevidência. When comparing this with the number presented in

Q4 2013, it increased by 5.66%, decreasing 9.68% compared to Q1 2013.


1st Quarter 2014 22

Chart 18

Number of Media inserts (Units)

Chart 19 Number of Media inserts

January to March highlights: 100% digital for pension for State policyholders, the new

Rioprevidência tender and the Rioprevidência Carnival block.


1st Quarter 2014 23

1.5 - LEGAL

1.5.1 - Judgments Fulfilled (Pension Review) and Submitted to the Judiciary

From January to March 2014, the number of warrants issued to the judiciary to notify

compliance with court decisions reviewing pensions was 4.10% lower than in Q4 2013 and

13.10% higher than in Q1 2013.

Chart 20

Number of Judgments (Units)

Chart 21

Number of Judgments (Units)


1st Quarter 2014 24

1.5.2 - Relevant data on the assessment of Bidding Procedures, Contracts, Legal

opinions and Certificate Requests for Full Content

Table 10

Activities Q4 2013 Q1 2014 ∆%

(*) Approval of direct hires (bidding exemption/waiver) 10 12 20.00%

Pronouncements on bidding appeals or challenges 0 2 -

Approval of tender and contract drafts 40 24 -40.00%

Opinions issued by DJU 2 0 -

Certificate requests rejected 0 3 -

Source: DJU(*) The reformulation of PGE Statement No. 18, published on 04/25/2008, exempts the manifestation of the legal sector in cases exempt from bidding due to the value of up to R$ 8,000.00 (Article 24, I, Law No. 8666/93).


1st Quarter 2014 25


1st Quarter 2014 26

INVESTMENT MANAGEMENT 2.

Rioprevidência adopts best practices in investment management, with the approval of the

Annual Investment Plan, respecting the provisions of the National Monetary Council - CMN.

2.1 CASH FLOW

2.1.1 -Inflows

Inflows in Q1 2014 reached R$ 1,876,646 and represents a variation of 21.53% compared to

Q4 2013 and an increase of 12.35% over Q1 2013, according to the following tables.

Table 11

Inflows from funds (Cash flow from Financing) Q4 2013 Q1 2014 ∆%

R$ % R$ %

Employer Contribution 601,246,715 20.25% 1,724,184,340 73.60% 186.77%

Employee Contribution 383,180,709 12.90% 420,392,460 17.95% 9.71%

Royalties 537,629,465 18.11% 88,370,753 3.77% -83.56%

Royalties Special Part. (PEA) 925,396,484 31.17% - 0,00% -

Investment Income 23,218,242 0.78% 6,860,581 0.29% -70.45%

Comprev 21,781,173 0.73% 17,541,026 0.75% -19.47%

Property 9,002,857 0.30% 5,496,043 0.23% -38.95%

Other 464,834,147 15.65% 77,429,603 3.31% -83.34%

Transfer of Funds raised/Outstanding Debt

645,903 0.02% 435,504 0.02% -32.57%

Billing - Lic. W/Remuneration 2,391,688 0.08% 1,876,646 0.08% -21.53%

Total Inflows 2,969,327,383 100.00% 2,342,586,956 100.00% -21.11%

Source: Financial flows - ATE/GOP

The main variations in finance income in Q1 2014 compared to Q4 2013 were in Equity

Contributions, Royalties and Special Participations, Earnings and Investments and Other.

These variations are explained by:

- Employer Contribution: Due to cash difficulties, the Ministry of Finance needed to anticipate


1st Quarter 2014 27

employer contribution income.

- Royalties: Most funds from royalties were intended to redress the Union and pay the CEF

(Caixa Economica Federal) installment planned for 2014 for the Transfer carried out in 2013.

FEP funds - Special Petroleum Funds - were added to Royalties.

- Special participation: Part of gross revenues from special participation received in February

2014 was passed on to redress the Union, pursuant to the Assignment Agreement signed in

1999, settling the whole amount outstanding in 2014. The rest was used to settle the

payment to CEF for the amount of R$ 738.61 million, relating to the installment scheduled for

2014 for the 2013 Transfer.

- Investment Income: The decrease was due to lower cash availability.

- Other: a negative variation was seen since there was R$ 400 million of income in October

2013, the last installment from the CEF Transaction.

- The Royalty, PEA and Other amount was adjusted in Q4 2013 compared to the last report.

Table 12

Inflow of funds (cash flow from financing)

Q1 2013 Q1 2014 Δ %

R$ % R$ %

Employer Contribution 1,020,532,407 48.27% 1,724,184,340 73.60% 68.95%

Employee Contribution 345,196,839 16.33% 420,392,460 17.95% 21.78%

Royalties 440,236,081 20.82% 88,370,753 3.77% -79.93%

Royalties Special Part. (PEA) 224,060,888 10.60% - 0.00% -100.00%

Investment Income 4,107,108 0.19% 6,860,581 0.29% 67.04%

Comprev 15,456,419 0.73% 17,541,026 0.75% 13.49%

Property 3,198,775 0.15% 5,496,043 0.23% 71.82%

Other 58,396,303 2.76% 77,429,603 3.31% 32.59%

Transfer of Funds

raised/Outstanding Debt 1,224,322 0.06% 435,504 0.02% -64.43%


1st Quarter 2014 28

Billing - Lic. W/Remuneration 1,670,389 0.08% 1,876,646 0.08% 12.35%

Total Inflows 2,114,079,530 100.00% 2,342,586,956 100.00% 10.81%

2.1.2 - Expenses

The following tables show the composition of expenses for Q1 2014, compared to Q4 2013

and Q1 2013.

Table 13

Expenditure Q4 2013 Q1 2014 ∆%

R$ % R$ %

Net Payroll for Inactives 1,290,419,165 40.46% 1,354,407,134 51.11% 4.96%

Net Payroll for Inactives 381,794,517 11.97% 389,152,909 14.69% 1.93%

Net Payroll for Pensioners 509,411,662 15.97% 523,802,493 19.77% 2.82%

Net Payroll 13th Salary 355,965,058 11.16% 11,195,70 0.00% -100.00%

Net payroll Judicial and Other 4,864,249 0.15% 4,911,432 0.19% 0.97%

Total Net Payroll 2,542,454,650 79.71% 2,272,285,163 85.75% -10.63%

Income Tax 212,910,253 6.67% - 0.00% -100.00%

Social Security Contributions Inactives

78,760,351 2.47% 127,821,079 4.82% 62.29%

Consignments 325,240,616 10.20% 235,737,065 8.90% -27.52%

Total Gross Payroll 3,159,365,869 99.05% 2,635,843,306 99.48% -16.57%

Gross Payroll Rioprevid

Employees. 9,059,646 0.28% 5,019,959 0.19% -44.59%

Net Payroll 13th Salary Rioprevid. 571,276 0.02% 0 0.00% -100.00%

Proc. common shares and other 2,110,400 0.07% 1,644,672 0.06% -22.07%

Administrative Costs 18,228,784 0.57% 7,239,249 0.27% -60.29%

Capital Expenditure 362,902 0.01% - 0.00% -100.00%

Total expenditure 3,189,698,877 100.00% 2,649,747,187 100.00% -16.93%

Source: Flow from financing activities: DIN


1st Quarter 2014 29

The main variations between the financial expense between Q1 2014 and Q4 2013 were on

Net Payroll for Inactives and Pensioners, Income Tax, Social Security Contributions for

Inactives, Gross Payroll for Employees and Net Payroll for 13th salary. These variations are

explained by:

- Net Payroll for Inactives and Pensioners: The change reflects the increase in Public Safety.

- Income Tax: Due to cash difficulties, the Income Tax transferred to the Ministry of Finance

was deferred.

- Social Security Contributions for Inactives: Outstanding Prior period contributions have been

settled. Employee Contributions to the Pension Fund and the RJPREV Participant Contributions

are also included in this amount.

- Gross Payroll for RIOPREV employees: in December 2013, the accounting was aligned for

prior periods for the payment of social security contributions and Income Tax.

- Net Payroll 13th Salary: In December 2013 the second installment of the 13th salary was

paid.

Expenditure Q1 2013 Q1 2014 R$ % R$ % Δ %

Net Payroll for Inactives 1,202,895,589 50.73% 1,354,407,134 51.11% 12.60%

Net Payroll for Other Inactives 338,420,975 14.27% 389,152,909 14.69% 14.99%

Net Payroll for Pensioners 468,534,531 19.76% 523,802,493 19.77% 11.80%

Net Payroll 13th Salary ” 0.00% 11,195,70 0.00%

Net payroll Judicial, PYE and Other 1,068,538 0.05% 4,911,431,72 0.19% 359.64%

Total Net Payroll 2,010,919,633 84.80% 2,272,285,163 85.75% 13.00%

Income Tax - 0.00% - 0.00% -

Social Security Contributions Inactives

46,115,170 1.94% 127,821,079 4.82% 177.18%

Consignments 292,653,657 12.34% 235,737,065 8.90% -19.45%

Total Gross Payroll 2,349,688,460 99.09% 2,635,843,306 99.48% 12.18%

Gross Payroll Rioprevid Employees.* 4,354,103 0.18% 5,019,959 0.19% 15.29%


1st Quarter 2014 30

Net Payroll 13th Salary Rioprevid. 0 0.00% 0 0.00% -

Proc. common shares and other 1,127,310 0.05% 1,644,672 0.06% 45.89%

Administrative Costs *1 16,205,757,64 0.68% 7,239,249 0.27% -55.33%

Capital Expenditure 0 0.00% 0 0.00% -

Total expenditure 2,371,375,631 100.00% 2,649,747,187 100.00% 11.74%

* Value calculated on a Cash Basis. This amount includes amounts relating to: Employer Contributions, the Employer INSS, Supplemental Payroll and Prior Year Expenditure (PYE). *1 Total Administrative Costs of Rioprevidência

2.1.3 - Balance of Available Funds

The balance of available funds ended the Q1 2014 at R$ 181,165,043, representing a

decrease of 62.90% over the previous quarter.

Table 15

Balance of Available Funds

Q4 2013 (end of December)

Q1 2014 (end of March)

%∆

Amount (R$)

488,325,274

181,165,043

-62,90%

2.2 - FINANCIAL INVESTMENTS

2.2.1 - Allocation

From January to March 2013, the Fund's investments focused on shares classified as fixed

income pegged to DI (Interbank Deposit) or IRFM-1 (Fixed Income Market Index). The

strategy to allocate funds follows the criteria established by current legislation, the Annual

Investment Plan and Investment Committee.


1st Quarter 2014 31

Chart 22 Change in investing activities in Investment Funds (in millions)

Chart 23

Change in investing activities (R$ million)


1st Quarter 2014 32

Chart 24

Change in investing activities (R$ million)

2.2.2 - Risk

Rioprevidência's investments are concentrated in low market risk investment, since they all

have floating rate yields pegged to daily interest rate variations (CDI), as well as investments

pegged to IMA (the ANBIMA Market Index). With respect to credit risk, the Fund also acts

conservatively. Investments are backed by federal government bonds (over 90%) and

corporate bonds with low credit risk.

2.2.3 - Return

The Fund's asset portfolio is assessed monthly by the weighted average on the balance of

funds invested. Investment funds follow the variance in short-term interest rates used in the

market (CDI and IRFM-1), and repurchase agreements follow CDI.

The composition of Rioprevidência investments at the end of Q1 2014 is within the limits

established by CMN Resolution 3922/10 and the Annual Investment Plan.


1st Quarter 2014 33

Chart 25

Portfolio Monthly Yield/Actuarial Target (%)

Jan/Mar 2013/2014

Chart 26

Portfolio Accumulated Yield/Actuarial Target

Jan 2012 to Mar 2014 (%)

Then, the consolidated position of the portfolio by type of risk in the Q4 2013 and Q1 2014

and the position of the portfolio relating to CMN Resolution No. 3922/10, at the end of Q1

2014.


1st Quarter 2014 34

Table 16

Position of Portfolio by Type of Risk

Q4 2013

(Ending December) Q1 2014 (ending March)

(R$) (% of Total) (R$) (% of Total)

1 - Federal Government Bonds 98,269,428 24.7% 27,689,822 11.4%

1.1 - Fixed (LTN, NTN-F) 8,723 0.0% 44,139 0.0%

1.2 - Floating Rate (LFT - Selic, LTN with DI-1 Selic Op. Comp.)

98,260,705 24.7% 36,231,609 11.4%

1.3 - IPCA (NTN-B)

1.4 - IGP-DI (CFT - Own Portfolio)

0

0

0.00%

0.00%

0

0

0.0%

0.0%

2 - Private Securities (I) 38,480,897 9.7% 21,631,513 6.8%

3 - Fund Quotas (II) 488,084 0.1% 635,352 0.2%

4 - Treasury (III) 364,015 0.0% 222,170 0.0%

5 - Real Estate 260,537,622 65.5% 268,901,906 81.7%

Total Portfolio 398,140,046 100.0% 319,080,763 100.0%

Source: RIOPREVIDÊNCIA, Bradesco, Banco do Brasil. (I) Value of Bradesco Premium DI Fund Quotas that are allocated in private

securities with low credit risk. (II) Value in Fund Quotas: Bradesco Premium DI invested in other investment funds. (III) Funds held

in Treasury in invested funds. (IV) Refers to the value calculated on 03/31/2014.

Limit

PAI (% total)

Limit Res. No. 3922/10

Segment Type of Asset Value (R$) (%)

Fixed Income TPF 0 0.00% 100.0% Up to 100.0%

Fixed Income (I) FI/FIC RF or Pegged

0 0.00% 80.0% Up to 80%

Fixed Income (II) FI/FIC RF or

Pegged 58,543,141 0.07% 4.0% Up to 30.0%

Fixed Income FI/FIC RF or

Pegged (Private Credit)

0 0.00% 1.5% Up to 5.0%

Fixed Income Op. Committed to TPF

0 0.00% 2.8% Up to 15.0%

Total Fixed Income - 58,543,141 0.07% - -

Real Estate (IV) Land and Buildings

268,901,906 - - -

Total Assets (III)(Res. 3922/10) 84,192,080,782 - - -

Source: RIOPREVIDÊNCIA, Bradesco. (I) IMA or IDka Sub-Indices except sub index pegged to the interest rate on the first.

Glossary: (II) Any Fixed Income performance indicator. Includes value in TPF quotas - The Fund’s Government securities: Bradesco

Premium DI allowing the allocation of FI/FIC securities - Low credit Risk Private Investment Funds. PAI - Annual Investment Plan

(limits defined in PAI) (III) Total Asset Value of Rioprevidência on 03/31/2014. (IV) Refers to the value calculated on 03/31/2014.


1st Quarter 2014 35

2.3 - FUND ASSETS

2.3.1 - Composition of Assets

The total Fund assets in the Q1 2014 was R$ 84.20 billion, while the value achieved in Q4

2013 was R$ 84.60 billion, representing a decrease of 0.48%.

Table 18

Assets Q4 2013 Q1 2014 Δ%

(Ending December) (Ending March)

(R$) (R$)

CFT Exchanged 1,624,591,146 1,368,831,811 -15.74%

Royalties 79,339,283,461 79,250,842,654 -0.11%

Cash and cash

equivalent 488,544,258 210,665,906 -56.88%

Outstanding Debts 21,690,315 21,690,160 0.00%

Property 268,901,905 268,901,906 0.00%

ICMS installments 967,214,518 967,214,518 0.00%

FUNDES 1,108,750,856 1,119,732,749 0.99%

FREMF (I) 103,391,631 76,036,120 -26.46%

ERJ + BERJ Receivables 345,353,822 345,353,822 0.00%

Other 329,877,497 562,811,138 70,61%

Total Assets 84,597,599,408 84,192,080,782 -0.48%

Source: DIN/GOP

(I) Revenue from FREMF (Fund for Economic recovery in the Ri) began to be collected in

December 2010.

The repayment of the second transfer (2007) and third transfer (2011) installments of the

treasury certificates will be completed in December 2014, when this asset will be cleared. The

cash flow from FREMF financing was included into the assets of RIOPREVIDÊNCIA, through

Decree No. 42.755/2010 and subsequent amendments, to the limit of R$ 400,000,000.00

The same legal instrument was transferred to the State of Rio de Janeiro, for the same

amount, the cash flow forecast for 2011, 2013 and 2014 for the rights to royalties and special

participations. We forecast that the limit R$ 400,000,000.00 will be reached in November

2014, which progressively reduces this asset.


1st Quarter 2014 36

2.4 - BUDGET

The interest payment limit in 2013 by Rioprevidência was determined by Decree 43.911,

which provides for a budget and financial schedule and sets standards for budgeting for the

Executive Authority for the year.

2.4.1 - Revenue

The State Budget is set considering the inflow of funds. The tables below show the behavior

of the Revenue collected in Q1 2014, Q1 2013 and Q4 2013.

Budgeted Revenue (collected)

Q4 2013 (Cumulative total)


Δ%

R$ Participation R$ Participation

Royalties 472,893,934 15.96% 117,789,562 5.23% -75.09%

Special Participation:

988,117,359 33.35% 0 0.00% -100.00%

Employer Contribution

607,955,262 20.52% 1,718,135,19

7 76.36% 182.61%

Employee

Contribution 380,817,092 12.85% 327,822,067 14.57% -13.92%

COMPREV 21,781,173 0.74% 17,541,026 0.78% -19.47%

FUNDES / FREMF

transfers 60,923,009 2.06% 58,327,672 2.59% -4.26%

Proceeds from

Investing 23,272,570 0.79% 6,854,655 0.30% -70.55%

Other Revenue 407,346,064 13.75% 3,600,091 0.16% -99.12%

TOTAL 2,963,106,461.86 100.00% 2,250,070,2

69.44 100.00% -24.06%

The decrease in Proceeds from Royalties and Special Participation in Q1 2014 results from the

whole transfer to the Union, of the compensation payable by the State, as well as the

payment to CEF for the amount of R$ 738.61 million, for the 1st installment (2014) of the

Credit transfer done in 2013.


1st Quarter 2014 37

The increase of 182.61% in proceeds from employer contribution is due to the advance of

funds by the Ministry of Finance.

The decrease of 70.55% in "Proceeds from Financial Investments" comes from a reduction in

the daily balance of funds invested in the Q1 2014 relative to Q4 2013.

Table 20

Budgeted Revenue (collected)



Δ%

R$ Participation R$ Participation

Royalties 472,893,934 15.96% 117,789,562 5.23% -75.09%

Special

Participation: 988,117,359 33.35% 0 0.00% -100.00%

Employer Contribution

607,955,262 20.52% 1,718,135,197 76.36% 182.61%

Employee Contribution

380,817,092 12.85% 327,822,067 14.57% -13.92%

COMPREV 21,781,173 0.74% 17,541,026 0.78% -19.47%

FUNDES /

FREMF transfers

60,923,009 2.06% 58,327,672 2.59% -4.26%

Proceeds from Investing

23,272,570 0.79% 6,854,655 0.30% -70.55%

Other Revenue 407,346,064 13.75% 3,600,091 0.16% -99.12%

TOTAL 2,963,106,461.86 100.00% 2,250,070,269.44 100.00% -24.06%

In Q1 2014, this year's installment was paid on the Credit Transfer on the R$ 2.3 billion with

CEF in 2013, which led to low funds from oil proceeds.

With less funds from royalties and the special participation, the Ministry of Finance brought

forward the transfer of revenue from employer contributions for R$ 1.23 billion.

2.4.2 - Expenses

In Q1 2014 the committed expenses were R$ 3,198,887,546, an increase of 5.23% over Q4

2013. It increased 10.37% compared to Q1 2013.


1st Quarter 2014 38

Table 21

EXPENSES Q4 2013 Q1 2014

Committed Committed Settled Paid Δ%

Inactives 2,315,305,881 2,426,255,988.72 2,426,255,988.61 2,239,622,452.74 4.79%

Pensioners 706,854,191 730,924,268.81 730,924,268.79 674,626,356.45 3.41%

Own employees 7,767,060 8,386,433.54 7,767,085.73 6,351,779.54 7.97%

Agency Maintenance

253,988 25,444,552.21 6,071,204.89 5,477,652.81 9918.01%

Legal Rulings 2,052,836 2,649,951.67 2,555,150.51 2,507,928.83 29.09%

PYE 7,774,484 4,966,540.07 4,921,638.62 4,869,391.45 -36.12%

Construction Work and Facilities

-15,790 0.00 0.00 0.00 -100.00%

Other Expenses -21,785 259,810.97 9,994.46 9,994.46 1292.57%

TOTAL 3,039,970,866 3,198,887,546 3,178,505,332 2,933,465,556 5.23%

Source: DIN/GOP

The variation in the Inactive and Pensioner costs is due to the Security adjustment and the

ceiling increase.

The variation in "Agency Maintenance" stems from the cancellation, in Q4 2013, of committed

balances not expected to be settled in view of the end of the financial year. In Q1 2014

several IT projects started to be developed, which increased spending on this item greatly.

Table 22

EXPENSES Q1 2014 Q1 2014

Committed Committed Settled Paid Δ%

Inactives 2,159,235,927.9

7 2,426,255,988.7

2 2,426,255,988.6

1 2,239,622,452.7

4 12.37%

Pensioners 696,589,379.86 730,924,268.81 730,924,268.79 674,626,356.45 4.93%

Own employees 7,013,841.27 8,386,433.54 7,767,085.73 6,351,779.54 19.57%

Agency

Maintenance 13,651,226.58 25,444,552.21 6,071,204.89 5,477,652.81 86.39%

Legal Rulings 1,021,922.14 2,649,951.67 2,555,150.51 2,507,928.83 159.31%

PYE 20,687,505.69 4,966,540.07 4,921,638.62 4,869,391.45 -75.99%

Construction Work and Facilities

0.00 0.00 0.00 0.00 -

Other Expenses 238,161.33 259,810.97 9,994.46 9,994.46 9.09%

TOTAL 2,898,437,965 3,198,887,546 3,178,505,332 2,933,465,556 10.37%


1st Quarter 2014 39

2.5 - REAL ESTATE PORTFOLIO

2.5.1 - Portfolio Composition

Ending March 2014, Rioprevidência had 200 plots of land, 89 commercial properties and 33

residential properties in its real estate portfolio amounting to 322.

Chart 27

Composition of Portfolio Real Estate Q1 2014

2.5.2 - Value of Real Estate Assets

In Q1 of 2014, the carrying amount of the Fund's real estate portfolio increased by 2.21%,

closing at R$ 268 million, as shown in the chart below.


1st Quarter 2014 40

Chart 28

Value of Real Estate Assets

(R$ million)

2.5.3 - Funding

Q1 2014 closed with a total of R$ 509,048.07. Compared to Q4 2013, when the Fund raised

R$ 993,606.57, with a decrease of 48.77% in the funding.

Chart 29

Real Estate Portfolio Funding

(R$ thousand/month)


1st Quarter 2014 41

2.5.4 - Portfolio Management

The following table summarizes the main activities in Q1 2014 relating to the management of

the Rioprevidência real estate portfolio.

Table 23

Activities relating to real estate occupation Q4 Q1 Δ%

Published bidding notices for Real estate Occupancy 0 0 -

Preparation for Transfer/Permission/Termination 1 1 -

Notifications 6 34 466.67%

Attending to various queries 26 26 -

Enforcing Repossession Warrants 2 4 100%

Inspections Carried Out 117 148 26.50%

Activities related to Real Estate Disposal Q4 Q1 Δ%

Published bidding notices for Real Estate disposal 8 6 -25.00%

Deeds for Purchases and Sales 3 2 -33.33%

Revalue Property 6 3 -50.00%

Report analysis - 13 -

Approved reports - 5 -

Produced CEN reports - 5 -

Activities Relating to real estate regularization Q4 Q1 Δ%

Certificate request to notaries 31 19 -38.70%

Request for registrations and approvals to registries 1 3 200.00

%

Preparation of Transfer Terms 0 0 -

Request for Municipal Registrations 0 0 -

Billing Procedures and registration of outstanding debt Q4 Q1 Δ%

Issuing Bank payment slips for the monthly rental payments and

installments 77 2369 2976.62%

Instruction on the Process to Grant Debt Installment 0 3 -

Subscription in Outstanding Debt sent to SAG (State Attorney

General) 13 4 -69.24%

Procedures relating to taxes Q4 Q1 Δ%

Request lease payment certificate 6 43 616.67%

Request for Fire fee Waiver - CBMERJ 0 0 -

Procedures relating to ex IPERJ real estate mortgages Q4 Q1 Δ%

Number of completed processes to reduce mortgages 6 5 -16.67%


1st Quarter 2014 42


1st Quarter 2014 43

RETIREES AND PENSIONERS 3.

3.1 - NUMBER OF RETIREES AND PENSIONERS

In Q1 2014, the total number of retirees was 151.100 and pensioners was 99.187.

3.2 - SUMMARY OF BENEFIT PAYROLL FOR ALL STATE RETIREES AND PENSIONERS

In the period January to March 2014, there was a 3.77% increase in the retiree payroll

compared to Q4 2013. In the same period, the pensioner payroll increased by 1.82%.

Chart 30 Beneficiary Payroll for all Government Branches (in R$)

By analyzing the amounts of pension income (employer contribution, the contribution of

active, inactive and retired employees) in relation to the pension expense (Benefit payroll),

we saw a difference in Q1 2014 of R$ 2,163,862,868, i.e. collections only covered 28.15% of

the expenses for the period. In the table and graph below this relationship is shown.


1st Quarter 2014 44

Table 24 (Q1 2014)

Government

Branch

Employer contribution,

Active

Employee, Inactive and

Pensioner

Inactive and Pensioner

Payroll Income/Expense Difference in R$

(Income - R$) (Expense - R$) A/B (%)

A B

ALERJ 15,425,740.06 58,376,381 26.42% -429,500,640.94

TCE 27,568,611.43 70,081,795 39.34% -42,513,183.57

TJ 140,447,573.14 291,269,209 48.22% -150,821,635.86

MP 37,800,288.87 69,504,673 54.39% -31,704,384.13

EXECUTIVE 604,018,112.27 1,824,354,133 33.11% -1,220,336,020.73

Partial 825,260,325.77 2,313,586,192 35.67% -1,488,325,866.23

PENSIONERS 22,425,683.95 697,962,686 3.21% -675,537,002.05

Total 847,686,009.72 3,011,548,878 28.15% -2,163,862,868.28

Chart 31

Social Security Income x Social Security Expense

(R$ thousand)


1st Quarter 2014 45

3.3 - COMPREV CORE

3.3.1 - Amounts collected

From January to March 2014, with pension compensation, R$ 25,493,484.42 was collected.

When comparing the Q1 2014 financial results with the previous quarter's result - R$

21,616,576.53 - there was a 17.93% increase with a 1.59% increase compared to the same

period in 2013. The table below shows the behavior of this income.

Table 25

January/13

(R$)

February/13

(R$)

March/13

(R$)

January/14

(R$)

February/14

(R$)

March/14

(R$)

13,115,439.35 5,781,070.46 6,198,285.60 13,151,949.79 6,315,249.13 6,026,285.50

October/13

(R$)

November/13

(R$)

December/13

(R$)

January/14

(R$)

February/14

(R$)

March/14

(R$)

5,226,930.18 10,533,230.33 5,856,416.02 13,151,949.79 6,315,249.13 6,026,285.50

Source: GCO

Importantly, the financial income from COMPREV is accounted for on an accrual basis and not

on a cash basis. This means that the cash flow recorded in any given month effectively

becomes cash in the following month. The data below shows the production of the COMPREV

Core.

3.3.2 - Applications Sent and Approved

In Q1 2014, the number of applications submitted to INSS decreased by 4.06% and the

amount of approved documents increased 61.03% compared to the previous quarter.

Compared to Q1 2013 there was an increase of 17.91% in applications submitted and a

decrease of 8.99% for those approved. This number relies solely on the actions of INSS.


1st Quarter 2014 46

Chart 32

Number of Applications (Units)

Chart 33

Number of Applications (Units)


1st Quarter 2014 47

3.3.3 - Financial results by period:

Table 26

Period Flow taken from stock (calculated credit in the period 88-99) (R$)

Flow to transfer (Amount credited to Rioprevidência) (R$)

Total Credit (R$)

Credit (RO) Expense (RI)* Balance Credit (RO) Expense

(RI)* Balance

April/13 69,829.60 0.00 69,829.60 5,729,126.13 33,461.30 5,695,664.83 5,765,494.43

May/13 104,943.13 0.00 104,943.13 5,816,478.98 64,973.61 5,751,505.37 5,856,448.50

June/13 18,510.00 0.00 18,510.00 5,789,806.98 35,215.86 5,754,591.12 5,773,101.12

July/13 150,609.57 0.00 150,609.57 5,620,818.93 40,995.87 5,579,823.06 5,730,432.63

August/13 210,979.10 0.00 210,979.10 6,092,816.80 34,040.81 6,058,775.99 6,269,755.09

September/13 141,811.67 0.00 141,811.67 6,184,332.58 34,040.81 6,150,291.77 6,292,103.44

October/13 74,387.26 17,667.86 56,719.40 5,338,887.73 168,676.95 5,170,210.78 5,226,930.18

November/13 72,560.05 0.00 72,560.05 10,539,004.32 78,334.04 10,460,670.28 10,533,230.33

December/13 277,468.39 0.00 277,468.39 5,621,070.37 42,122.74 5,578,947.63 5,856,416.02

January/14 7,489,251.76 0.00 7,489,251.76 5,710,344.89 47,646.86 5,662,698.03 13,151,949.79

February/14 15,868.59 0.00 15,868.59 6,339,441.15 40,060.61 6,299,380.54 6,315,249.13

March/14 0.00 0.00 0.00 6,065,356.59 39,071.09 6,026,285.50 6,026,285.50

Source: COMPREV Core

(*) Started in November 2008, analysis of the RI module - payments for RGPS (Statutory Social Security) - offset by the receivable stock and flows.

RO: Credit in favor of Rioprevidência RI: Credit in favor of INSS


1st Quarter 2014 48

3.3.4 - COLLECTION FROM EMPLOYEES ON LEAVE

Chart 34

Collection from employees on unpaid leave


1st Quarter 2014 49


1st Quarter 2014 50

SERVICE CHANNELS 4.

4.1 - CUSTOMER SERVICE (SAC) Toll free number - 0800 285 8191

Customer Services received 24,218 calls in Q1 2014, where the item to understand the

processes was the most sought after by the policyholders. There was a 10.27% decrease

compared to Q4 2013 and a 64.17% increase compared to Q1 2013.

Chart 35

Number of calls attended per quarter (units) – Q4 2013 and Q1 2014.

Chart 36

Number of calls attended per quarter (units) –

Q1 2013 and 2014


1st Quarter 2014 51

4.2 - OMBUDSMAN

From January to March 2014, we attended to 1,355 people through the Ombudsman. The

main subjects queried were the review of pension and the stage of the process. There was a

9.43% decrease compared to Q4 2013 and a 61.48% decrease compared to Q1 2013.

Chart 37

Number of calls attended per quarter (units)

Chart 38

Number of calls attended per quarter

(Units)


1st Quarter 2014 52

4.3 - AGENCIES, SERVICE OUTLETS, POUPA TEMPO AND MOBILE UNITS

Rioprevidência has 23 Customer Service units as well as a mobile unit in its structure. They

are distributed as follows

- 13 agencies : five in the city of Rio de Janeiro and eight in municipalities within the interior

of the state: Central, Flamengo, Tijuca, Méier, DIP-PMERJ (São Cristóvão), Icaraí, Miracema,

Valença, Três Rios, Nova Friburgo, Petrópolis, Teresópolis and Campos.

- 6 service outlets: CBMERJ Méier, CBMERJ Centro, TCE, PCERJ, PGE and DPGE.

- 4 Rio ‘Poupa Tempo’ units: Bangu, São João de Meriti, São Gonçalo and Cantagalo.

- Mobile unit: visits locations without agencies or service outlets each month.

Among the services provided by Rioprevidência are:

- Process consultation;

- Update Address/Change Registration;

- Eligibility for pension;

- Pension quota in arrears;

- Revision of pension;

- Revision of pension quotas;

- Imprisonment Aid;

- Copy of paycheck and income tax;

- Request for existing balance and end pension;

- Declaration of dependence;

- Declaration of PASEP benefit.

In analyzing Q1 2014, Rioprevidência attended 8,299 calls. There was 0.49% decrease in

the number of calls compared to Q4 2013 and a 1.30% decrease compared to Q1 2013.


1st Quarter 2014 53

Chart 39


Chart 40


Services most requested in the agencies in Q1 2014 were copies of paychecks, an

understanding of the processes and registering changes.

4.4 - SCHEDULED APPOINTMENTS

Aiming to increase the effectiveness of the service, Rioprevidência has implemented

Scheduled appointments. This procedure intends to facilitate, expedite and give more

comfort to the policyholders so that a single visit to the agency resolves the request in most

cases.

It can also be scheduled through the Rioprevidência website as from June 2011, through

"Scheduling online".


1st Quarter 2014 54

4.4.1 - Current Scenario

The graph below shows the change in total service in branches and versus the number of

appointments scheduled in the same period.

Chart 41

% of scheduled appointments on total calls attended

NOTE: The total calls attended in this table does not include the mobile unit numbers.


1st Quarter 2014 55


1st Quarter 2014 56

BOARDS 5.

Chapter II OF Law 3189/99 establishes the Rioprevidência management structure comprising

the Executive Board and the Board of Directors. The law also provides for the performance of

the Fiscal Council to the Fund.

5.1 - BOARD OF DIRECTORS- CONAD

As expressly provided in the relevant legislation, CONAD Directors should meet at least

quarterly or hold special meetings convened by its Chairman or a majority of its members. In

Q1 2014, the 60th CONAD Meeting was held in March 2014. The next CONAD meeting will be

held in June.

5.2 - FISCAL COUNCIL - CONFINS

The next CONFIS meeting will be held in April.


1st Quarter 2014 57


1st Quarter 2014 58

RIOPREVIDÊNCIA CULTURAL 6.

6.1 - NUMBER OF PARTICIPANTS

In Q1 2014, Rioprevidência Cultural welcomed 2,575 participants in courses, events, tours,

excursions, activities on Saturdays, using the multipurpose and training room.

Table 27 (Q1 2014)

January February March TOTAL

Courses 252 300 339 891

Events 355 472 406 1,233

Training 0 0 0 0

Excursions 30 30 30 90

Saturdays 85 58 36 179

Multipurpose

Room 49 85 48 182

TOTAL 771 945 859 2,575

6.2 - ACTIVITIES

In Q1, Rioprevidência Cultural offered excursions, art activities, exhibitions, physical

activities, theater and regular courses and workshops.

6.2.1 - Excursions

Copacabana Fort;

São João Fort;

Açude Museum;

Chácara do Céu Museum;

Benjamin Constant House Museum;

Museum of the Federal Court

6.2.2 - Artistic activities

Choir;

Tea with music;

Musical Theatre Studio workshop;

Theatre;

Samba group;

Theatre Workshop for adults;


1st Quarter 2014 59

Music lesson: flute;

Art Troupe

6.2.3 - Exhibitions

Espaço Memória

6.2.4 - Physical Activities

Gymnastics;

Ballroom dancing;

Gypsy dancing;

Alexander Technique (Bodily Expression);

Belly dancing

6.2.5 - Courses

IT;

Guitar;

History of Art;

Oil and Acrylic Painting on Canvas;

English;

6.2.6 - Special Schedule

'Conhecendo a Obra' project;

'Conhecendo a Obra' project;

Children's play - Rapunzel;

A cara do Zé;

Nelson Rodrigues' Waltz No. 6;

The Book 'O vaso suspirado' by Francisco Pereira da Silva;

Show: Samba divas


1st Quarter 2014 60

6.3 - AGE GROUPS OF PARTICIPANTS

Chart 42

Q1 2014

0 to 50 years old Above 50 years old

6.4 - PARTICIPANTS BY RESIDENCAL AREA CODE

Chart 43

Q1 2014

0 to 50 years old Above 50 years old Zona Oeste Grande Rio


1st Quarter 2014 61

6.5 - PARTICIPANTS BY GENDER

Chart 14

Q1 2014

Male

Female

6.6 - COST

Table 28

January/14 (R$)

February/14 (R$)

March/14 (R$)

Personnel 7,298.00 8,545.38 10,843.30

Electricity/water/gas 1,476.69 3,343.21 2,257.37

Stewards/cleaning/reception 7,667.84 8,039.40 9,369.47

Microcomputer 3,800.55 3,800.55 3,800.55

General costs/Condominium/IPTU 0.00 1,207.66 867.42

Security 10,619.83 14,755.45 14,755.45

Telephone 325.79 285.77 380.71

Transport 105.56 211.21 105.56

Photocopying 297.86 196.11 297.86

Total 31,592.12 40,384.74 42,633.35


1st Quarter 2014 62


1st Quarter 2014 63

SCHOOL OF FINANCIAL EDUCATION 7.

The Rioprevidência School of Financial Education is a space for interaction and learning, with

the aim of building skills in economics and finance, teaching in a different way, helping people

to improve their decisions on consumption, savings and credit use, allowing responsible and

conscious management of income and assets. It is located at Rua Felipe Camarão, 83 – Vila

Isabel Esquina with Av. Manuel de Abreu - next to Rioprevidência Cultural and will attend to

every citizen, with the following audience in the segment:

- Young and school-age children in the final years of elementary school and throughout

high school, primarily students from state schools.

- Adults interested in taking part in the program, Public servants and their families,

University students, social project facilitators involved with the topics proposed by the

program.

- Senior citizens , Rioprevidência Retirees and pensioners, people attending Rioprevidência

Cultural and others interested in taking part in the program.

You can register for these via phone 2334-1846 and the School website at

(http://www.rioprevidencia.rj.gov.br/eef/index.html).

7.1 - PARTNERS

The School of Financial Education have signed partnerships with the following institutions:

CVM, DPGEs-RJ, Bovespa, ANBIMA, APIMEC and INI, to carry out the training.


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7.2 - NUMBER OF PARTICIPANTS AND EXPENSE

Table 29

Activities Jan/14 Feb/14 Mar/14

How to Invest in Shares - BOVESPA 2 0 0

Educate the family 0 0 3

Educating Master - BOVESPA 3 0 0

Questions about Debt - Rioprevidência/DIN 6 0 13

Organizing your finances - Family Budget in Excel 14 7 9

The Capital Market and CVM operations 7 0 6

Inside the Financial Market - ANBIMA 5 0 0

Bank indebtedness and Contracts -DPGE/NUDECON 3 8 0

Tesouro Direto (National Treasury) 7 0 0

Dr. Finance - Rioprevidência/DIN 4 9 6

Contact the Ombudsman - NUDECON 3 4 0

TOTAL 54 28 37

Table 30

Expense January/14 February/14 March/14

Electricity 640.41 652.81 695.72

Telephone 251.51 269.45 344.48

Water 78.11 355.44 91.61

Security 10,619.83 10,619.83 10,619.83

Cleaning 4,156.49 4,156.49 4,156.49

Receptionist 1,740.52 1,740.52 1,740.52

Rent 8,254.39 8,254.39 8,254.39

Personnel 10,325.66 6,181.56 7,884.77

Trainee 941.12 917.15 901.36

Benefits (Vt, Aa) 937.3 929.4 798.40

IT 6,646.01 6,646.013 6,646.01

Consumables 90,084 103.3 0


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Transport 517.76 407.1 38.54

Photocopying 83.52 115.02 115.02

Flights 1,699.84 1,363.83 0

Total 46,982.44 42,712.16 42,286.79

7.3 - AGE GROUPS OF PARTICIPANTS

Chart 45

Q1 2014

Up to 30 years old

31 to 40 years old

41 to 50 years old

51 to 70 years old

Above 70 years old


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7.4 - PARTICIPANTS BY NEIGHBORHOOD

Chart 46

Q1 2014

Centro

Maracanã

Tijuca

Vila Isabel

Grajaú

Copacabana

Jacarepaguá

Penha

Campo Grande

Other

7.5 - PARTICIPANTS BY GENDER

Chart 47

Q1 2014

Male

Female


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HIGHLIGHTS 8.

8.1 - The Rioprevidência School of Financial Education - lectures at APPAI

On March 29, the Associação Beneficente dos Professores Públicos Ativos e Inativos do Estado

do Rio de Janeiro (APPAI) welcomed the Manager of the Rioprevidência School of Financial

Education, Carlos Eduardo Batalha, for a lecture at the invitation of Professor Adenias

Gonçalves.

APPAI is a non-profit organization, which aims to meet the basic needs identified by its

membership body, promoting well-being and quality of life. For this, they provide, among

other benefits, lectures and workshops with themes inherent to Education, aimed at

members.

According to Michele Adum, the Director of Association, taking financial education to

Educational professionals aims to provide an opportunity to get in touch with issues that are

relevant to think about and improvement of their quality of life and professional practice.

"Many teachers do not know about the wonderful work done by Rioprevidência through the

School of Financial Education and see that it will be in the public interest to attend the

School", Michele said.

8.2 - The Rioprevidência School of Financial Education holds an event to celebrate

its third anniversary

On March 21, the Rioprevidência School of Financial Education held the "360 degree Financial

Education" Workshop to end the special week celebrating its third anniversary.

The event, which brought together about 70 people, began with a brief opening speech by the

CEO of Rioprevidência, Gustavo Barbosa. He spoke about the importance of school and the

three years that these activities had been carried out.

Then he opened the discussion panel, mediated by the manager of the School, Carlos Eduardo

Batalha. The following people took part in the debate: José Alexandre Vasco, a member of the

Securities Commission and the National Council for Financial Education; Luis Felipe Lobianco,

Securities Commission; Psychologist of the Financial Rehabilitation Program of the Court of

Auditors, Adriana Raeder; public defender for the Center for Consumer Protection, Alessandra

Bentes; a public defender and coordinator of Consumer Protection, Larissa Davidovich; and

from BOVESPA, Luiz Ernesto Leitão and Mauro Affonso Salema.

For about two hours, they dealt with various subjects relating to Finance and Financial

Education. At the end, there was a question time for the public.

"It is important to note that the school not only gives financial education to their students,

but there is also a sense of citizenship" Larissa Davidovich said.


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After the discussion panel, Lucia Borges was presentation, a former student of the School and

the author of many publications that are published regularly on the website, where she told

the public about some of these stories.

"I always say that the school is a little corner where you forget the outside world. Everything

here is excellent: teachers, facilities and the courses", Lucia said.

At the end of the event, Carlos Eduardo Batalha, gave the participants the "Friend of the

School" diploma and thanked all the help that the school has received from its partners. "The

event achieved its goal when it brought together seven professionals working towards the

financial education of the general public. In three years, we can see real growth of the

proposal to bring this issue to the people", the manager said.

8.3 - The Rioprevidência School of Financial Education is three years old with

impressive numbers

The Rioprevidência School of Financial Education has done activities for three years on March

22. Although it is new, the school has had some pretty impressive numbers, such as 565

courses, lectures and consultations carried out at in that time.

For these activities, 8,707 people have registered on the website for 12,422 vacancies, filling

around 70% of the vacancies. The total number of participants was 5,430, which indicates a

62% turnout among those registered.

External lectures organized by the School were attended by 6,084 people over the years, with

78% of them being state civil servants.

Adding up all the activities undertaken by the School in those three years, we reach the


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impressive number of 11,514 participants, more than half of them active and inactive

employees and retirees from the State of Rio de Janeiro.

These numbers represent the strength that the School has as the first free institution for

financial education in Brazil. These are the first three years with more ahead to help all those

needing to be educated or re-educated financially.

8.4 - Rioprevidência has a Carnival block

On February 27, the carnival block "Mostra o Fundo que eu Libero o Benefício" took place, as

organized by Rioprevidência employees. The party, which started at 18:00, took about 500

people to the corner of Rua da Quitanda and Rua Alfândega.

The hired band livened up the revelers to the sound of several songs, among them the

group's samba theme "Tá maluco? Respeita o Mostra o Fundo!"

"The group was very lively, and got everyone excited. Compared to last year, we can say that

this was much better, as well as having more people, we had a larger structure with chemical

toilets. However, we can already identify some flaws, which we will work to improve next

year", said Bianca Lopes, Protocol employee and block organizer.


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The employee Sergio Alves, Coordinator of Supplies, Goods and General Services (CSS)

agreed with Bianca in regards to the liveliness of the block. "I really enjoyed going, the band

was very good and the crowd was very lively. I think the fact of the block stayed in the same

place was important to focus on people", said the reveler employee.

8.5 Rioprevidência offers up positions for public applications.

The Notice for yet another Rioprevidência public tender. This time for 85 positions - 50

positions for pension assistants and middle managers and 35 for the post of higher-level

specialists in Social Security.

In addition to these 85 vacancies for immediate appointment, another 70 vacancies for 2015

were approved, 46 for pension assistants and 24 for Social Security Specialist. These jobs

make up a booking register.

The tests were given on March 30. Evaluations for Specialist vacancies will consist of 80

objective questions and an open-ended question, where the candidate must prepare an essay


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on a theme related to Social Security. In turn, the Assistant will have 70 objective questions.

People registered on the Ceperj Foundation website (www.ceperj.rj.gov.br) up to March 9.

Five per cent of vacancies were for people with disabilities and 20% for blacks and Indians.

The registration fee was R$ 80 for the assistant application and R$ 100 for the specialist and

can be paid at any bank branch, preferably at Bradesco. The notice for applications is

available on the Rioprevidência website, along with a message to the candidates. The

announcement can also be found on the Ceperj website. After applications had been received,

tests, answers and results were also made available on the website.

8.6 Rioprevidência revamps its website

The website design has completely changed, becoming more modern and easier to navigate,

not only for policyholders but for anyone interested in having better access to available

information.

The employee Ana Lucia Manhães, IT Management, was responsible for implementing the new

layout and said the main goal was to provide greater usability, making content more

accessible to policyholders. To accomplish this great change, she had the help of employees

Marcia Macedo, Bruno Maciel and the intern Daniel Carvalho Jr.

"I thought of a more friendly layout, easy navigation, where even policyholders who do not

have much contact with the internet are able to look around the content without much

difficulty and have the information at their fingertips", she said.

Go and check out the new look!

8.7 Rioprevidência invites Financial Institutions to Register

Rioprevidência invites financial institutions interested in registering, for the year 2014, with

the State Authority to receive investments in accordance with Rioprevidência Ordinance No.

244 of September 27, 2013.

The period to apply was up to February 6, 2014 and the application may be made in

writing at the Rioprevidência head office (Rua da Quitanda n°106 – Centro – Rio de Janeiro -

RJ – CEP 20091-005).

8.8 State Public Servant Health Care Plan- Membership starts

If you are an active, inactive or retired civil servant or military, for the State of Rio de

Janeiro, you can now join one of the health care plans: Unimed Rio, Amil, Assim, Seguros

Unimed or Uniodonto offered by the company Aliança Administradora de Benefícios de Saúde

S/A accredited by SEPLAG, and with the chance of prices below Market prices.

Public employees, external and contractors for a specified period (Temporary


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contracts), plus their legal dependents, according to National Health Agency rules, may also

purchase a health care or dental plan.

Membership opened on January 16, by Internet, over the phone 0800 254 2622 or Service

Outlet at the old Banerjão, in Rua da Ajuda, No. 5, Subsolo, Centro, Rio de Janeiro, on the

corner of Rua Nilo Peçanha.

To join on the Internet, go to www.aliancaadm.com.br/govrio and simulate your plan. If

you want to, also fill out a membership form and follow the instructions on the page on how

to proceed.

The terms of membership and agreement between SEPLAG and the company Aliança,

containing the minimum services to be offered are available on the site

www.rj.gov.br/web/seplag.

8.9 Rioprevidência simulates evacuation from its headquarters

On January 16, a simulated evacuation took place at the Rioprevidência Headquarters,

organized by the Fund's Accident Prevention Group. The activity began at 15:00 with

everyone taking part in the building. GPA members and the Brigade Fire went through the

floors of the building, helping everyone to safety.

GPA and Fire Brigade member, employee Lucas Hinterhoff, from the Ombudsman assessed

the activity: "For a first year, the result was satisfactory. It was important to train both the

fire brigades members and the public servants how to act in an emergency, but in addition, it

was also important to create a general awareness of risk situations. At the next meeting we

will discuss everything that went right and anything we can still improve on", said the

employee.


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Issue:

Office of Corporate Governance

Information:

Telephone: 2332-5757

Website: www.rioprevidencia.rj.gov.br

Address: Rua da Quitanda, 106 /

3rd floor, Centro, Rio de Janeiro.

Rio de Janeiro, RJ, CEP 20.091-005

Chief Executive Officer - Rioprevidência · Chief Executive Officer Gustavo de Oliveira Barbosa...

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