Brazil set to increase pension payments by 7.7%


BRAZIL - Brazil's lower house of parliament has approved a 7.7% increase in pension payments for some of the country's pensioners but serious obstacles remain before it can go into effect, including a possible veto from president Luiz Inacio Lula da Silva.

This decision - if approved by the Senate - will apply to retired people whose pension is above the minimum salary of BRL510 (US$282.7). Right now, Brazilian men can retire after 35 years of contri...

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