Bolsonaro submits pension reform bill to lower house

Some $313 billion may be spared with the overhaul

Published in 20/02/2019 - 14:24 By Andreia Verdélio, Karine Melo, Ana Cristina Campos - Brasília

Joined by Economy Minister Paulo Guedes and Chief of Staff Onyx Lorenzoni Wednesday morning (Feb. 20), President Jair Bolsonaro handed over to the lower house the bill for the reform in Brazil’s pension system.

Bolsonaro and the accompanying officials were welcomed by lower house speaker Rodrigo Maia and Senate head Davi Alcolumbre.

Proceedings

First, the proposal is submitted to the Constitution and Justice Commission (CJJ) in the lower house, then to a special commission, also in the Chamber of Deputies, and subsequently to a plenary session, where the piece of legislation must be backed by at least three fifths of lawmakers (308 votes) in two rounds of vote.

Next, the bill is sent to the Senate, where it is also scrutinized by commissions before being brought to vote on the floor.

The text put together by the government sets a minimum retirement age at 65 for men and 62 for women, in addition to a period of transition.

Politicians and other members of the opposition rallied outside the president’s office in the lower house and spoke out against the reform.

Money spared

The revamp is expected to enable the government to spare approximately $313 billion over the course of ten years.

In the first four years, the government will refrain from spending $50.8 billion, if the legislation is approved in its original version.

In the coming ten years after the changes, the federal government will spare $192 billion with private enterprise workers and $46.6 billion with federal civil servants, as per official estimates.

Translation: Fabrício Ferreira -  Edition: Renata Giraldi / José Romildo

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