Changes to Brazil's pension reform to cost 20pc of savings

BRASILIA: Changes to President Michel Temer's landmark pension reform proposal will cost about 20 percent of the savings originally envisioned by his administration, the lawmaker drafting the changes said on Tuesday.

Congressman Arthur Maia told reporters that he is proposing a minimum age of retirement of 65 years for men and 62 for women and reducing the retirement age for rural workers, teachers and police. The original proposal had set 65 years as the retirement age for all workers.