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Pension Calculator: How Old Will You Have to Work?

A tool created by the state , in partnership with the Brazilian Association of Financial Planners , allows you to calculate the time required to retire receiving the full benefit if the pension reform is approved. The calculator compares the current rule to the bill presented by the Federal Government.

To earn the full benefit under current rules , the employee must have at least 30 years of contribution. If they choose to retire through the points modality, men must have contributed at least 35 years, compared to 30 for women.

With the retirement , to fully receive these minimum times would be 40 years for them and 35 for them – including those in the transition rule.

The calculator developed by the state so far only works for private sector taxpayers (such as people with a formal contract). The tool does not take into account whether the worker acts in rural areas, is a teacher, civil servant or military.

There is a difference between the amount of the full benefit and the percentage of this benefit the worker receives. The calculator tells you when a worker will be able to retire receiving 100% of his full benefit, even if he can retire earlier and receive a lower percentage of his benefit.

Today, the value of the full benefit is equivalent to the average of the 80% higher salaries received by the worker. For example, if someone has contributed for 20 years to Social Security , but is paid $ 2,000 for four of them and $ 4,000 for the remainder, the calculation will only take into account the highest payment years. Payments made since 1994, when the Real became the currency of the country, are considered.

According to the rules proposed in the reform, the benefit will be calculated from all salaries received, also from the Real. Thus, as lower pay periods are not discarded at the time of doing the math, it is very likely that the worker will receive less than under the current rule if he has lower pay periods in his career.

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