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Industry: Email Alert RSS FeedBrazil close to retirement rule reform
Pensions & Investments, June, 1998 by Kepp, Michael
Michael Kepp RIO DE JANEIRO, Brazil - Brazil's Congress is close to passing long-awaited social security reform. With all provisions of this amendment voted on - including one that links retirement payouts to age and length of contributions - Brazil's lower house of Congress is almost certain to pass the entire amendment in a final, second-round vote, perhaps early this month.
If that timetable is met, President Fernando Henrique Cardoso will sign social security reform legislation by the end of the month. The key reform provision passed by the Chamber of Deputies - the lower house - links payouts for those now in the system to age as well as length of contribution. The bill would hold off full benefits for men until they turn 53, women would have to be 48....
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