Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322150 
Year of Publication: 
2025
Series/Report no.: 
Texto para Discussão No. 3123
Publisher: 
Instituto de Pesquisa Econômica Aplicada (IPEA), Brasília
Abstract (Translated): 
This article explores the potential of the Complementary Pension Scheme (RPC) as a means to increase private savings and ensure secure retirement in the context of an aging population. Using the Lee-Carter method, it is projected that 1.4 million Brazilians could join the RPC by 2030, with significant growth among women, who are expected to account for 66% of contributors. A second focus of this article was to explore the international complementary pension market to identify products that could be adapted to the Brazilian context to provide security against longevity risk. Despite the relevance of existing products in the Brazilian RPC, the availability of lifetime products is scarce and under-promoted, reflecting a conservative stance by financial institutions. Retirement security is a global challenge, requiring dynamic solutions from governments. The Lifetime Income for Advanced Age product, capable of providing a fixed and lifelong income starting from a pre-specified date, is proposed as a solution to enhance the well-being of the population. However, implementing this strategy in Brazil requires the combination of different products and more complex financial planning, demanding greater knowledge of available products or the assistance of consultants, which can make the process costly and restrictive.
Subjects: 
complementary pension scheme
private savings
demographic transition
JEL: 
J32
D14
J11
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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