O regime de previdência dos servidores públicos: Implicações distributivas com base na instituição de um teto nos valores dos benefícios e da criação da FUNPRESP [The Brazilian public servants pension system: distributional implications based on the introduction of a ceiling value on pension benefits and the establishment of FUNPRESP]

The Brazilian public pension system comprises two branches: Regime Geral (RGPS) for private sector workers; and Regimes Próprios (RPPS) for public servants in all government levels. The Federal Law 12.618/2012 created a ceiling on the value of the federal civil servants benefits and established a complementary pension fund for them. These changes have potential distributional implications, which are analyzed in this paper. We use a factor decomposition of the Gini coefficient for household per capita income distribution, as measured by the 2011 PNAD, with emphasis on the pension income component. We conclude that the benefits that exceed the maximum value paid by RGPS are highly regressive and the creation of a ceiling on all benefits improves the distributional aspects of public spending on pensions, but no major impacts on the Gini coefficient are obtained.