End of preview - This article contains approximately 136 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
LatinNews Regional Monitor: Brazil & Southern Cone - 2 October 2019
In brief: Pension reform slowly advances through Brazil’s senate
* Brazil’s federal senate has approved the base text of the pension reform in a first round of voting in the plenary, with 56 votes in favour and 19 against. Voting on proposed amendments is due to continue today (2 October). The session was adjourned after the senate rejected changes which would have established stricter rules for the payment of so-called ‘salary bonuses’ – a benefit paid to low-income workers in the formal sector. The senate’s approval of the amendment which rejects these changes shaves R$76.4bn (US$18.38bn) off the government’s planned fiscal savings, bringing these down to around R$800bn over the next decade. The reform must receive another three-fifths majority in a second vote in the plenary to be approved, with expectations that this process will be concluded between 10 and 20 October.
