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Pension System at Crossroads: Between Frail Solidarity and Financial Appropriation

In: Social Policy Dismantling and De-democratization in Brazil

Author

Listed:
  • Fernanda Pernasetti

    (Instituto de Pesquisa e Planejamento Urbano e Regional da Universidade Federal do Rio de Janeiro (Ippur/UFRJ)
    Centro de Estudos Estratégicos da Fundação Oswaldo Cruz (CEE-Fiocruz))

Abstract

The chapter discusses the dismantling of Brazilian social security, debating the reform processes that shaped public pensions and paved the way for the advancement of private pensions in Brazil. It presents a double explanatory hypothesis: firstly, it takes into account the ambiguities that surround the historical approach to social security in Brazil, distancing it from a solidary conception, and weakening popular resistance to the dismantling. Secondly, it argues that successive pension reforms have been functional in the advancement of the financialization of the economy. Both hypotheses converge to a reflection on how the dismantling of social policies built a cyclical mechanism that links social security, public money, and financialization, leading to reforms that openly favor rentier accumulation.

Suggested Citation

  • Fernanda Pernasetti, 2023. "Pension System at Crossroads: Between Frail Solidarity and Financial Appropriation," Societies and Political Orders in Transition, in: Sonia Fleury (ed.), Social Policy Dismantling and De-democratization in Brazil, chapter 0, pages 105-132, Springer.
    • Handle: RePEc:spr:socchp:978-3-031-35110-5_5
    DOI: 10.1007/978-3-031-35110-5_5
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