Summary:
Jorge Bravo to lead a new task force focusing on pension sustainability.
Group to propose concrete reforms including the review of the TSU.
Task force includes representatives from various government ministries.
Final report with recommendations expected within 12 months.
New Task Force Established
The Portuguese government has initiated a new task force that will start its activities on January 31. This group will be led by economist Jorge Bravo and includes representatives from various ministries, as well as former Liberal Initiative deputy Carla Castro.
Key Objectives
The main aim of this group is to develop concrete proposals aimed at ensuring the sustainability of the Social Security system. The discussions will cover crucial topics such as the review of the Social Security Contribution Rate (TSU), early retirement rules, and the expansion of complementary pension schemes.
Focus Areas
According to an official dispatch, the task force will:
- Deepen analysis of long-term sustainability of the Social Security system.
- Propose strategic action lines and feasible proposals that align with best practices from both national and European contexts.
- Address demographic and economic challenges in the future.
Proposed Reforms
Among the initiatives being considered are:
- Revising the TSU.
- Conducting an integrated analysis of the sustainability and equity of public social protection systems, including contributory and tax-financed systems.
- Developing complementary mechanisms for retirement.
- Reassessing early retirement policies to encourage longer active working lives and increase contribution volumes.
Composition of the Task Force
The task force, led by Jorge Bravo from Nova IMS – University of Lisbon, will consist of nine other members, including various experts from the ministries of Social Security, Finance, and other related institutions. The group is expected to submit a final report with proposals within 12 months of its establishment, including a detailed execution plan and performance indicators.
Progress Reports
Six months after commencing their work, the team will provide a progress report on the development of complementary retirement regimes and the reassessment of early retirement policies.
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