Brazil Implements Pension Reforms

Businesswoman holding folders on stairs of office building, individual, woman

Reforms (Portuguese) to Brazil’s social security pension system passed congress and took effect on 13 Nov 2019. Presented to parliament on 20 Feb 2019, the legislation aims to overhaul the system’s financing and reduce pension spending by BRL$800 billion over a 10-year period. 

Notable reforms increase the minimum retirement age to 65 for men and 62 for women over a 12-year period, change employee contributions and the retirement formula, and lengthen minimum contribution periods. A Mercer report identifies six key areas where companies and pension funds are likely to see an impact.

Related Resources

Non-Mercer Resource

Mercer Law & Policy Resource

Other Mercer Resource

  • Adapting Your Organization to the Social Security Reform  (Portuguese and English)  (October 2019)
Rafael Goes
by Rafael Goes

Legal Adviser, Mercer Wealth

Regina Teixeira Recchia
by Regina Teixeira Recchia

Consultora Jurídica

Fiona Webster
by Fiona Webster

Principal, Mercer’s Law & Policy Group

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