Brazil’s Pension Reforms Move Forward | Mercer

Brazil’s Pension Reforms Move Forward

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Brazil’s Pension Reforms Move Forward
Brazil’s Pension Reforms Move Forward
Calendar01 November 2019

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. 

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