Rio de Janeiro Court of Accounts launches R$6.5 bn audit of state pension fund

The Tribunal de Contas do Estado do Rio de Janeiro (TCE‑RJ) has opened an extraordinary audit covering about R$6.5 billion of investments made by the Rio de Janeiro state pension fund (Rioprevidência). The court gave the fund five days to explain R$118 million invested in late December 2025 in three funds managed by institutions that were not accredited to operate with the autarchy, as well as a further R$99.4 million placed through the broker Mirae Asset.

The investigation focuses on the involvement of Banco Genial, Mirae Asset and Banco Digimais, following an earlier expansion of the audit in June that already scrutinised the fund’s exposure to Banco Master after the TCE‑RJ rejected the 2025 accounts of the former governor. The audit seeks to verify the legality and accounting treatment of these large allocations.

The TCE‑RJ’s decision, issued on 15 July, is part of a broader effort to ensure the technical, financial and reputational standards required by the National Monetary Council for entities receiving public pension resources.