Increasing Longevity in Brazil Underscores the Importance of Investing in Private Pension Schemes
by Eduardo Freitas
Brazil’s Social Security sector has undergone several transformations since it was implemented in the distant year of 1821, when the country still was a Portuguese colony. The existing models date back to 1923, when the country’s railway companies created a Retirement and Pensions Fund to cover their employees. Today, Brazil has three main pension schemes: the General Pension Scheme, managed by the National Social Security Institute and run by the government, to which all formally employed workers are entitled; the Special Public Servants’ Regimes; and Supplemental Pension Plans.
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