AFP: SBS adjusts rules to improve evaluation and disability pension procedures

The Superintendence of Banking, Insurance and AFP (SBS) modified the standards on benefits linked to the Disability Evaluation System (SEI) of the Private pension system (SPP). Within the AFP services, disability coverage is part of the social protection scheme linked to the loss of capacity for job.

A situation of loss of capacity for employment generates the activation of pension insurance, that finances disability pensions, as appropriate.

In that sense, it details the SBSthe objective of the standard is to have an updated regulatory model, which mitigates the operational, legal and quality of information and services, for the benefit of the affiliates – and of their family group – that suffer from a disease or have suffered a common accident.

The norm, published today in legal norms, incorporates three main changes:

• Governance standards for the functioning of medical committees, which allow policies on the ruling of a disability situation, requested by an affiliate, be comprehensive and involve the entire organization. That is, one Best Organization of Medical Committeesto ensure that disability decisions are clearer and fair.
• Risk management for the processes that the committees develop, updating the approach and orienting it, mainly, to the quality of services. That is, one Better risk managementfocusing on the quality of the service that affiliates receive.
• Delimitation of the responsibility of the AFPs, as well as the committees, regarding the orientation and information and dictation and foundation service, respectively. That is to say, greater clarity in the responsibilities of the AFP and the medical committeesdifferentiating who should inform and who should make decisions about disability

The objective is to improve the evaluation of disability cases. If an affiliate, due to a disease or accident, loses its ability to work, its pension insurance can be activated to grant a disability pension. This pension will serve to compensate, at least in part, the income that it can no longer generate.