Brazil to Raise Pensions by 3 Billion Reais in 2010: Pimentel

By Iuri Dantas

Dec. 9 (Bloomberg) -- Brazil’s President Luiz Inacio Lula da Silva will sign a decree this month raising pension payments next year by about 3 billion reais ($1.7 billion), Social Security Minister Jose Pimentel told reporters in Brasilia.

Disbursements for 8.2 million people whose pension income exceeds the minimum wage will be adjusted by a formula equal to half the amount of gross domestic product growth last year plus 2009 inflation, he said.

To contact the reporter on this story: Iuri Dantas in Brasilia Newsroom at idantas@bloomberg.net

Sphere: Related Content