The future of social security in Brazil: is there a way without solidarity?

Abstract

Brazilian Social Security System is based in intergeneracional solidarity. It means that today’s taxpayers maintain active pensions and need future taxpayers to sustain future pensions. There is no individual investment account and the actuarial health of the system depends on economic and populational growth to maintain itself. Economic crisis, socio- political context, gave rise to successive reforms intended to hinder access and reduce the amount of paid benefits. When the pandemic hit Brazil, and workers needed to activate social security to ganrantee income in the face of non-essential activities block, they found a bleack scenario in a dismantled protective system.