Brazil’s Pension Reforms Move Forward

Connecticut Enacts Paid Family and Medical Leave

Reforms (Portuguese) to Brazil’s social security pension system have passed the house and senate and will take effect once promulgated by Congress. The legislation, presented to parliament on 20 Feb 2019, 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 the minimum contribution periods. A Mercer report (Portuguese) identifies six key areas where companies and pension funds are likely to see an impact. 

Related Resources

Non-Mercer Resource

  • Press Release (Portuguese) (Brazilian Government, 23 Oct 2019)

Mercer Law & Policy Resource

Other Mercer Resource

Felipe Bruno
by Felipe Bruno

Retirement Leader, Mercer Brazil

Principal, Mercer Wealth

Rafael Goes
by Rafael Goes

Legal Adviser, Mercer Wealth

Stephanie Rosseau
by Stephanie Rosseau

Principal, Mercer’s Law & Policy Group

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