A group of Brazilian experts prepared proposals for a new Social Security reform, after seven years of the last reform, implemented in 2019. The experts worked for ten months preparing the changes, which include raising the minimum retirement age to 67 years, equalizing men and women, and implementing a capitalization system in which half of the contributions would be directed to an individual account of the worker in a pension fund. The proposals also include raising the contribution for microentrepreneur individual (MEI) and reducing the Continued Benefit (BPC) to 60% of the minimum wage, with increases conditioned to the years of contribution.
The technical coordinator of the study was Paulo Tafner, president-director of the Institute for Mobility and Social Development. According to Tafner, the 2019 reform was incomplete and did not solve all the structural problems of the Brazilian social security system.
According to the 2022 Census data, the experts found that population aging in Brazil is happening faster than expected and at a rate higher than previous projections, which reinforces the need for new changes in the retirement system.
