The idea of creating a Social Security Foundation for CST's employees came up in 1981, as a means to strengthen the policy of valuing people - one of the first pillars of the company. At that time the law did not allow state companies to create new foundations; however, it permitted the affiliation to an existing one.
Therefore, in 1985, a contract was closed with the existing Cosipa Social Security Foundation (Femco). The document entitled CST's employees the right to supplementary pension benefits from March 1986.
It was only in 1988, with the end of the legal impediment that it became possible to create Funssest - on September 29. At the time staff amounted to 6,000 employees and only one Pension Plan, the current Plan I. In 1992, with the privatization of the company, CST started a new phase of rapid growth and modernization.
Funssest grew along. Two new defined benefit plans were created, Plans II and III, in 1995 and 1998, respectively, and a defined contribution plan, Plan IV was also created in 1998. Besides that, Funssest broadened its reach including assistance plans providing participants with a health plan (Plansaude), created in 1993, and a dental plan (Odontoplus) since 2000.
Throughout the years, Funssest has acted together with its participants, promoting gatherings that aim at socializing and learning about the private pension sector. This takes place in our annual parties for the retirees and meetings to clarify new procedures and medical assistance.
Through this integration with the participants, which is very often, Funssest gets suggestions that help constantly improve the services provided.
One of the suggestions recently fulfilled by Funssest was to improve the health plan cost. In September, 2009, we launched a participative plan to meet this demand. Another suggestion that has been implemented was to update this site on the internet. New services and features have been included, which will make it easier and more practical to use.
This is the profile Funssest presents itself today: an institution that offers benefits, integration, innovation and respect for those that work or worked with dedication to build a company such as ArcelorMittal Brasil.
For more information on plans and services go to FUNSSEST: www.funssest.com.br