Fundos de pens？o no Brasil: uma análise dos fatores determinantes para sua expans？o na perspectiva dos seus gestores

private pension funds, of interest to millions of brazilians, are characterized by retirement plans limited to a certain group of people.this paper aims to identify the determinants for the extension of such private pension funds from the perspective of managers thereof. nineteen managers of pension funds and actuarial consulting firms in minas gerais, sao paulo and rio de janeiro were interviewed. such funds managed r$ 141.01 billion in 2008, representing 33.64% of the resources in the system in brazil. tthe data treatment used was the analysis of the semantic-pragmatic meaning (mattos, 2006), which seeks to understand the meanings of context assumed or involved in each response or emerging from the relationship of these responses. from the results, we highlight important considerations and proposals: the issue of pension awareness, new tax incentives, the use of part of fgts and flexible legislation to foster the growth of welfare in the country.