Brazil re­tire­ment age may rise to 65

China Daily (Canada) - - BUSINESS -

Brazil’s Pres­i­den­tMichel Te­mer on Tues­day sub­mit­ted a bill to Congress that would raise the re­tire­ment age to 65. The draft bill, part of a pen­sion re­form plan, would ap­ply to all men un­der 50 and women un­der 45, fol­low­ing 25 years of con­tribut­ing to so­cial se­cu­rity. “Men over 50 and women over 45 will be in­cluded in a tran­si­tional sys­tem, un­der which they will be sub­jected to a 50 per­cent in­crease on their re­main­ing con­tri­bu­tion time,” ac­cord­ing to the govern­ment news web­site. Govern­ment fig­ures show the av­er­age age of re­tire­ment in Brazil is 58, among the low­est in the world. Those who have al­ready re­tired and are re­ceiv­ing a pen­sion will not be af­fected if the bill passes.

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