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Brazilian Social-Security Income Deficit

Can they still cover the cost?

by roger chartierRoger Chartier -author of

The tax income in Brazil as it stands right now is not covering the debt for their social-security program.

In 2009, the world was marveling at the success of the INSS system of Social-Security in Brazil, but not right now.

The total deficit will be around R$38 billion by the end of this year.
(The "Real" is about half a dollar of US money.)

     Brazil -

In June of 2012 they saw a 5.1% deficit and July at 9% was worse than June.

As the economic situation gets tighter, things are getting more nervous for the folks paying out from the INSS (Brazilian Social-Security).

 Brazilians don't want to worry about money coming in.


Brazil Spends Reals

Brazilian money - www.Social-Security.bizThe government program for the people spends about R$60 Billion a year in their Social-Security program and about R$40 billion in government employees pensions.

Employed individuals are required to submit monthly to the program. Their required submission is between 8% and 11 % of income to INSS. The employer has to submit 20% as calculated over payroll.

Brazil spends almost twice what a similar EU country would spend on INSS and government pensions.

The secretary of INSS in Brazil, Antonio Rolim said that things might pick up money wise in the second half of the year, and it could work out a bit better than expected but nobody is sure of that.

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