Brazil's Bolsonaro proposes raising pension retirement age

Posted at 10:31 AM, Feb 20, 2019
and last updated 2019-02-20 10:31:41-05

RIO DE JANEIRO (AP) — Brazilian President Jair Bolsonaro is presenting a proposal to make Brazilians work longer before they can receive a pension as part of an effort to rescue the troubled retirement system.

The plan presented to Congress on Wednesday would increase the minimum retirement age to 65 for men and 62 for women.

Currently, many workers can retire in their early 50s.

Economists have long argued that Brazil's pension system isn't sustainable because people are living much longer after retirement.

As a congressman for 27 years, Bolsonaro often voted against proposals to reform the pension system.

He now says he was wrong to do that, and made pension reform a central pillar of his campaign last year.

Several attempts in recent years to curtail benefits have failed.