Brazil’s retirement income system comprises a pay-as-you-go social security system with higherreplacement rates for lower income earners; and voluntary occupational corporate and individual pension plans which may be offered through insurance companies or pension trusts.

The overall index value for the Brazilian system could be increased by:  introducing a minimum access age so that the benefits are preserved for retirement purposes

  • increasing coverage of employees in occupational pension schemes through automatic membership or enrolment, thereby increasing the level of contributions and assets
  • introducing a minimum level of mandatory contributions into a retirement savings fund
  • increasing the state pension age over time
  • introducing arrangements to protect the pension interests of both parties in a divorce
  • enabling individuals to retire gradually whilst receiving a part pension

The Brazilian index value increased from 53.2 in 2015 to 55.1 in 2016 primarily due to an improvement in the net replacement rate and an increase in the assumed retirement age.

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