November 23, 2017 / 12:48 AM / 24 days ago

Brazil government presents softer pension reform bill

SAO PAULO, Nov 22 (Reuters) - A new version of Brazil’s unpopular pension reform bill will require fewer years of contributions by private sector workers to receive a pension, according a draft of the legislation that the government hopes will win approval in Congress.

The new bill will require a minimum of 15 years of contributions from private sector workers but keeps the 25-year minimum for public servants, and all workers will need to work 40 years to retire on full pension. The new bill maintains the minimum retirement age of 65 years for men and 62 years for women, a key proposal for reducing the cost of the pension system. (Reporting by Ana Mano Editing by Sandra Maler)

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