Brazil’s retirement income system comprises a pay-as-you-go social security system with higher replacement 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 the level of coverage of employees in occupational pension schemes thereby increasing the level of contributions and assets
- introducing a minimum level of mandatory contributions into a retirement savings fund
- increasing participation of employees in occupational pension schemes through automatic membership of enrolment
- 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 primarilyy due to an improvement in the net replacement rate and an increase in the assumed retirement age.|
|The Brazilian index value increased from52.4 in 2014 to 53.2 in 2015 primarily die to a higher household saving rate and an upward revision in the proportion in growth assets.|
|The Brazilian index value fell slightly from 52.8 in 2013 to 52.4 in 2014 due to a number of small changes.|
|The Brazilian index value fell from 56.7 in 2012 to 52.8 in 2013 primarily due to a reduction in the net replacement rate and the revised tax question.|
|The Brazilian index fell from 58.4 in 2011 to 56.7 in 2012 primarily due to our introduction of the Worldwide Governance Indicators.|
|The Brazilian index fell slightly from 59.8 in 2010 to 58.4 in 2011 due to a decline in the household saving rate and a small fall in the sustainability sub-index related to several indicators.|