Retirement Age: Pension System

retirement age: He said the approval of the pension reform investors are eagerly awaiting is practically certain as Brazil's financial situation gives it little choice. ; The government expects to raise 20 billion from privatizations this year, Economy Minister Paulo Guedes said in a separate interview with Bloomberg TV in Davos, according to The Japan Times. In addition, reform of the pension system would help slash the budget deficit from around 7 percent of GDP to zero this year. Plans to sell a large number of state-owned companies are nearly ready, and a proposal to be sent to Congress will bring substantial cuts to pension outlays and establish a minimum retirement age, Bolsonaro said on Wednesday in Davos, Switzerland, in an interview with Bloomberg News Editor-in-Chief John Micklethwait. There's an awareness in Brazil that the reforms are vital for the federal entities to continue operating, Bolsonaro said. If not, the Left will return and we won't know Brazil's destiny, maybe it'll become more like the regime that we have in Venezuela. Brazil has to work out. (news.financializer.com). As reported in the news.