Pensions and retirement plans—Brazil—Q&A guide

The following Pensions practice note provides comprehensive and up to date legal information covering:

  • Pensions and retirement plans—Brazil—Q&A guide
  • 1. What are the main statutes and regulations relating to pensions and retirement plans?
  • 2. What are the primary regulatory authorities and how do they enforce the governing laws?
  • 3. What is the framework for taxation of pensions?
  • 4. What is the state pension system?
  • 5. How is the state pension calculated and what factors may cause the pension to be enhanced or reduced?
  • 6. Is the state pension designed to provide a certain level of replacement income to workers who have worked continuously until retirement age?
  • 7. Is the state pension system under pressure to reduce benefits or otherwise change its current structure in any way on account of current fiscal realities?
  • 8. What are the main types of private pensions and retirement plans that are provided to a broad base of employees?
  • 9. Are employers required to arrange or contribute to supplementary pension schemes for employees? What restrictions or prohibitions limit an employer’s ability to exclude certain employees from participation in broad-based retirement plans?
  • More...

Pensions and retirement plans—Brazil—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to pensions and retirement plans in Brazil published as part of the Lexology Getting the Deal Through series by Law Business Research (published: February 2021).

Authors: Pinheiro Neto Advogados—Cristiane Ianagui Matsumoto; Lucas Barbosa Oliveira

1. What are the main statutes and regulations relating to pensions and retirement plans?

The General System of Social Security is a part of the Brazilian social security system. Unlike the healthcare system, it requires contributions to or participation in its funding. The legal bases of the General System of Social Security are:

  1. the Brazilian Federal Constitution (article 201);

  2. Law No. 8,212/91 (funding);

  3. Law No. 8,213/91 (benefits); and

  4. Decree 3,048/99 (which governs Laws Nos. 8,212/91 and 8,213/91).

The General System of Social Security is maintained by the federal government, states, federal districts and some municipalities for civil servants. The legal provisions governing these regimes are based on article 40 of the Federal Constitution.

Private pensions and retirement plans are mainly regulated by article 202 of the Federal Constitution and by Supplementary Laws Nos. 108/2001 and 109/2001.

2. What are the primary regulatory authorities and how do they enforce the governing laws?

The National Social Security Institute, a federal independent agency, has the jurisdiction to implement governmental actions in the General System of Social Security (the state pension system) regime and the duty to grant and maintain those benefits,

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