March 15, 2019 / 2:00 PM / a year ago

Brazil to seek more pension contributions from military officers

RIO DE JANEIRO (Reuters) - Brazilian military officers will have to contribute more into the social security system and for longer, Pension Reform Secretary Rogério Marinho said on Friday, outlining what can be expected in proposals to be put to Congress next week.

Marinho said the overhaul of military pensions, one of the most controversial elements in the government’s cornerstone policy to slash social security spending, are not finalized but will be delivered by March 20, the administration’s self-imposed deadline.

He also said that rules regarding military police and fire service pensions will be the same as the armed forces, which should help ease the burden on states’ finances. Representatives from more than 10 Brazilian states have met with Economy Minister Paulo Guedes seeking financial aid, Marinho said.

“If any group gets any special benefit, it will be necessary to show what it will cost, and that this will mean less investment in housing and health,” Marinho said at an event in Rio de Janeiro.

President Jair Bolsonaro presented his pension reform bill, which seeks to raise the minimum retirement age for men and women and aims to save around 1.2 trillion reais ($314 billion) over the next decade, on Feb. 20.

Proposed changes to military pensions were left for later, but even Bolsonaro’s allies are warning him against giving special treatment to the military because that will lead to demands for exceptions by other interest sectors.

Reporting by Rodrigo Viga, Anthony Boadle and Jamie McGeever; Writing by Ana Mano and Jamie McGeever; Editing by David Gregorio

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below