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The Brazilian Pension System: Recent Reforms and Challenges Ahead

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  • Marcos Bonturi
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    Abstract

    Brazil’s public pension expenditure is about 9 per cent of GDP, above the OECD average. Given that OECD countries are generally not only wealthier, but also significantly older, Brazil’s pension expenditures are clearly excessive, draining resources away from other areas, such as much needed social investment in health and education. Beyond its fiscal impact, the Brazilian pension system is also unjust. About half of total pension expenditure is paid to former civil servants, which account for only 5 per cent of total retirees. Given the demographic challenges Brazil is likely to face in the next decades, authorities have started to implement a series of reforms. The general regime available to private sector workers underwent major changes in 1999, which will help ensure its long-term actuarial and financial balance. However, problems remain concerning the growth of the informal economy, the weight of non-pension benefits financially imputed to the regime and the mechanisms for ... Le système de pensions brésilien : Réformes récentes et défis à venir Les dépenses publiques au titre des pensions au Brésil représentent environ 9 pour cent du PIB, pourcentage qui dépasse la moyenne de l’OCDE. Si l’on tient compte de la jeunesse de la population brésilienne et de son moindre niveau de revenu par rapport à la moyenne des pays de l'OCDE, ces dépenses sont clairement excessives et c’est autant de ressources qui ne vont pas à d’autres affectations, comme l’investissement dans la santé et l’éducation, pourtant fort nécessaire. Au-delà de son impact fiscal, le système de pensions brésilien est aussi injuste. Environ la moitié des dépenses publiques au titre des pensions est versée aux anciens fonctionnaires, qui ne constituent pourtant qu’environ 5 pour cent de l’ensemble des retraités. Tenant compte des pressions démographiques que le Brésil aura vraisemblablement à effronter dans les décennies à venir, les autorités ont commencé à introduire une série des réformes. Le régime général, applicable aux travailleurs du secteur privé, a subi ...

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    File URL: http://dx.doi.org/10.1787/251552114651
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    Bibliographic Info

    Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 340.

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    Date of creation: 23 Aug 2002
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    Handle: RePEc:oec:ecoaaa:340-en

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    Keywords: ageing; fiscal federalism; civil servants; replacement ratios; social security; pension system; fiscal adjustment; Brazil; pension reform; vieillissement; fonctionnaires; ajustement fiscal; taux de remplacement; sécurité sociale; fédéralisme fiscal; Brésil; système de pensions; réforme des pensions;

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    Cited by:
    1. Gerhard Glomm & Juergen Jung & Changmin Lee & Chung Tran, 2009. "Public Sector Pension Policies and Capital Accumulation in Emerging Economies," Discussion Papers 2009-10, School of Economics, The University of New South Wales.
    2. Glomm, Gerhard & Jung, Juergen & Tran, Chung, 2009. "Macroeconomic implications of early retirement in the public sector: The case of Brazil," Journal of Economic Dynamics and Control, Elsevier, vol. 33(4), pages 777-797, April.
    3. Bernardo Lanza Queiroz & Moema Gonçalves Bueno Figoli, 2011. "Population aging and the rising costs of public pension in Brazil," Textos para Discussão Cedeplar-UFMG td438, Cedeplar, Universidade Federal de Minas Gerais.
    4. Gerhard Glomm & Jürgen Jung & Changmin Lee & Chung Tran, 2005. "Public Pensions and Capital Accumulation: The Case of Brazil," CESifo Working Paper Series 1539, CESifo Group Munich.

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