The coordinator of the working group created by the Government to study Social Security reform, Jorge Bravo, warned that the current funding sources of the contributory system are insufficient to cover all future liabilities of the system.
The warning comes following a study commissioned by the executive on the sustainability of Portuguese Social Security and the possible reforms needed to ensure pension payments in the future.
Jorge Bravo identified the existence of what he described as a "mathematical problem" in the system, suggesting there is an imbalance between the available financial resources and the commitments made by the Social Security system.
The study aims to support a potential reform of the system, seeking to find solutions to address the identified financing deficit and ensure the long-term viability of pensions in Portugal.
