Brazil's next president faces pension reform pressure as aging population strains fiscal accounts

Brazil's next president will inherit a pension reform challenge less than a decade after the last overhaul, as population aging and fiscal deterioration put pressure on the system, which accounts for nearly half of primary expenditures. The article highlights the need for automatic minimum-age adjustments tied to life expectancy, but the political feasibility remains uncertain. This matters because pension sustainability is central to Brazil's fiscal credibility and market confidence.