World Bank2013-08-122013-08-122000-06-19https://hdl.handle.net/10986/14998The study consists of two volumes, the first volume contains a detailed summary of the report findings, and policy implications, and, the second volume, the Policy Report, contains discussions on policy recommendations for each of the components of the Brazilian social security system. An overview on the dimensions of the social security challenge, reviews the system components, revealing unsustainable fiscal imbalances, and administrative weaknesses in both the unreformed General Regime for Social Security (RGPS), and the Pension Regime for Government Workers (RJU), with large tax-related distortions, and labor market inefficiency. Thus the goals of Brazil's reforms are to reduce fiscal deficits, lower actuarial imbalances, increase equity and redistribution, reduce collateral inefficiencies, and facilitate growth of funded pensions. The study implies there is no recourse for the country, but to lower the high, uniform replacement rates (experience suggests that rates higher than 40-70 percent, cannot be sustained) and, spells out that the key to effective reform of social security, is widening the debate to include potential winners from these changes, particularly the private sector, the young, and the poor. Policy recommendations suggest, that the adverse equity effects of RGPS reforms, should be widely publicized to generate political support for deeper RJU reform.en-USCC BY 3.0 IGOSOCIAL SECURITY SYSTEMSPOLICY REFORMFISCAL CONSTRAINTSADMINISTRATIVE CONSTRAINTSPENSION COVERAGEPENSION FUNDS ADMINISTRATIONPENSION TAXATIONLABOR MARKET POLICYFISCAL DEFICITSEQUITY FUNDSPRIVATE SECTOR PARTICIPATIONPOVERTY ALLEVIATION MECHANISMSPOLITICAL POWER ACCOUNTINGASSETSBENEFIT FORMULACAPITAL MARKETSCOLLATERALCONSENSUSCONSTITUTIONCONTRIBUTION RATECONTRIBUTION RATESECONOMIC STABILITYEQUITYFEDERAL GOVERNMENTFISCALFISCALFISCAL ADJUSTMENTFISCAL BALANCEFISCAL BURDENFISCAL DEFICITSFISCAL REASONSFISCAL YEARFUNDED _ ~~~~~~~~~~~~~~~~~~PENSIONSFUNDED COMPONENTFUNDED PENSIONSFUNDED SCHEMESGOVERNMENT EXPENDITURESGOVERNMENT OFFICIALSHUMAN RESOURCESINFORMAL EMPLOYMENTINTERNATIONAL MONETARY FUNDINVESTMENT RETURNSJUDICIARYLABOR COSTSLABOR MARKETLAWSLEGISLATURELEVIESMETROPOLITAN AREASMUNICIPAL GOVERNMENTSMUNICIPALITIESMUTUAL FUNDSNEW ENTRANTSPAYROLL TAXPAYROLL TAXESPENSION DEBTPENSION FUNDPENSION FUNDSPENSION LIABILITIESPENSION PLANPENSION PLANSPENSION REFORMPENSION SCHEMESPENSION SYSTEMPENSION SYSTEMSPENSIONERSPENSIONSPILLAR SYSTEMPRIVATIZATIONPRIVATIZATION PROCEEDSPUBLIC DEBTPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC FINANCINGPUBLIC RESOURCESPUBLIC SPENDINGREGULATORY AGENCYREPLACEMENT RATEREPLACEMENT RATESRETIREESRETIREMENTRETIREMENT ACCOUNTSRETIREMENT AGERETIREMENT AGESRETIREMENT BENEFITSRETIREMENT PLANSSAVINGSSOCIAL ASSISTANCESOCIAL ASSISTANCE EXPENDITURESSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL SECURITY AGENCYSOCIAL SECURITY BENEFITSSOCIAL SECURITY REFORMSOCIAL SECURITY TAXESSOCIAL SERVICESSTATE ADMINISTRATIONSTATE GOVERNMENTSUBNATIONAL GOVERNMENTSTAX BURDENTAX INCENTIVESTAX RATESTAX REVENUESTAX TREATMENTTAXATIONTRANSPARENCYWAGESWorld Bank10.1596/14998