Temer: pension reform is fundamental for the country

Both gradual in pace and essential for the country, pension reform must be approved in 2018 in order to prevent a collapse of the whole system in three years' time. The warning came from President Michel Temer during a national radio interview on Monday (29 January). "Really, if we don't fix the pension system, two or three years from now it will not resist," he said.

"This is a very gradual yet fundamental reform for the country," Temer stated, adding that resistance to the reform is now in the past because "people understand what is happening." "Those who don't vote for pension reform are hurting the country, and hurting retirees," he said. The current bill provides for up to R$ 600 billion in savings of government revenue over the next ten years.

Temer added that one of the pillars of pension reform is the drive to end privileges, as the bill creates similar rules for private sector workers, politicians and senior civil servants. "We are applying the principle of equality," he concluded.