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Guedes Proposes to Vote On a Part of the Social Security Reform Still in 2018

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The future Minister of the Economy, Paulo Guedes, defended the vote, still this year by the National Congress, of a “portion of the current text” of the pension reform already approved in a special commission of the House Representatives.

Guedes also proposed that the discussion of his proposal on a new system, anchored in capitalization, begin next year. “It would be a positive balance for the coming government and for what goes in,” he said.

On Monday, President-elect Jair Bolsonaro proposed passing at least the minimum retirement age this year, which he estimated at 61 for men and 56 for women. In the proposal that is in the Chamber, the bands are of 65 and 62 years, respectively. Bolsonaro has mentioned that he will discuss the matter with President Michel Temer today Nov. 7th, in a meeting at Brazil’s Presidential Palace. Bolsonaro said that the reform will be the possible, the proposal that has voted (to be approved).

Asked about the political feasibility of approving the Social Security reform in 2018, Paulo Guedes said he believed that “politics will take place in new center-right bases.” “The votes [in the Congress] will cease to be individual, on the basis of the decision taken there, and will obey the guidance of the parties,” he said.

According to the economist, besides the Social Security, the new government, as soon as it assumes, intends also to dedicate itself to reduced bureaucracy, tax simplification and privatization — issues that will also have to be analyzed by the Legislative. The statements were given in the ordinance of the Ministry of Finance before Guedes met with Finance Minister Eduardo la Guardia, who will succeed.