Retire at 55? In Brazil, It’s the Norm. But Can the Good Times Last?
In much of the world, workers would find it hard to imagine being able to retire at 55, earning 70 percent of their final salary for the rest of their lives.
But in Brazil, that has been the norm for decades, which helps explain the abundance of silver-haired joggers along Copacabana Beach in Rio de Janeiro at 11 a.m. on a recent weekday.
It also accounts for about a third of all government spending in Brazil, and contributed to a record budget deficit in 2016.
Read More: New York Times
