Savings review: STF extends deadline for agreement

The STF (Federal Supreme Court) extended for another 30 months the deadline for carrying out the collective agreement of the economic plans, which aims to compensate for the savings account losses during the Bresser, Verão and Collor plans.

Minister Ricardo Lewandowski, rapporteur for the process, indicated in his vote the impacts of the Covid-19 pandemic on the operationalization of the processes for joining the agreement, citing the existence of a significant number of potential beneficiaries.

Ana Selene, executive director of Febrapo (Brazilian Front for Savers), says that 400,000 people can still adhere to the agreement. “Covid prevented us from being able to reach a greater number of savers, because the vast majority are elderly people, who like face-to-face assistance and going to mutirões”, she explains.

Who can join the agreement?

Anyone who hasn’t filed a lawsuit by today has already missed the deadline”, explains Walter Moura, lawyer at Idec (Brazilian Institute of Consumer Defense). economic plan or class actions filed within 5 years of the final and unappealable decision of the class sentence, filed by December 11, 2017.

How to participate in the economic plans agreement?

Selene recommends looking for Febrapo in its service channels, such as WhatsApp, telephone and email. She says that the organization monitors the entire procedure, so that the person receives the amount within 15 days after signing the draft, as established in the terms of the agreement.

Adherence information is available on the website www.pagamentodapoupanca.com.br, the information portal for the economic plans agreement. In it, it is also possible to simulate the amount received in the agreement according to the specifics of each case.

Is it worth joining the agreement?

Moura recommends the agreement because of its speed and certainty of payment. “The shares are lucky. They may even pay more, but the problem is that you don’t know how long the banks will appeal and what the future of the decisions of the Superior Court of Justice and the Supreme Court will be.”

The lawyer says that Idec has been assisting people harmed by the economic plans for more than 30 years and that, even with several victories in court, the fight persists in individual actions. “Those who fight against banks throw stones at the cross. Banks have the capacity to fight, to belligerent, that no other entity has in Brazil.”

Selene also recommends the deal. “Waiting for the judgment is an expectation of law, it is not the right right. The agreement is certain, the person knows how much he will receive, how soon he will receive it.” For her, such speed compensates for possible financial losses. “There is indeed a discount, but nothing compared to waiting 30 years for someone who does not see his money in hand.”

Alexandre Berthe, a lawyer specializing in savings review processes, recommends always looking for a professional so that each case is analyzed in its specificities.

“Considering that the current agreement provides specific rules for the procedural phase and against which bank the process is being filed, the saver must seek a lawyer to analyze the specific case, under penalty of an erroneous assessment that could harm the saver”, he indicates.

Will stocks bounce back in 2023?

Berthe claims that the return on shares depends on the analysis of schedules and information that banks must provide to the STF, followed by an assessment of the next past. “It is prudent to wait for the presentation and analysis of the information, which should take place by mid-April 2023. Afterwards, the scenario can be evaluated”, he says.

Moura adds that some lawsuits should get under way again and suggests seeking a lawyer to find out the specifics of each process.