Brazil: Retirement: Brazil’s Social Security Reform Brings Marked Changes to Employee Benefits
Article provided by Asinta’s Brazilian Partner SCIATH.
Touted in the press as a launchpad for the Brazilian economy, the country’s much anticipated pension reform bill was signed into law (an amendment to the country’s 1988 Constitution) by the senate on October 22, 2019. According to the Wilson Center, the law impacts 72 million people in both the private and public sectors. One of the most noteworthy changes is a minimum retirement age, increasing to 65 for men and 62 for women (up from 56 and 53 accordingly) over a 12 year period.
SCIATH offers you this news report in English which explains how the law impacts employee benefits specifically. It covers eligibility changes, pension value changes, as well as reducing/increasing factors. You can find this same report written in Portuguese here.