Brazil Pension Crisis Mounts as More Retire Earlier, Then Pass Benefits On
In Brazil, millions of people are retiring in their 40s or 50s with full pensions. Currently, the average age of retirees in the country is 54, and many of these people are collecting pensions that add up to over $100,000 a year. As a result, school and healthcare budgets have been dramatically decreased to combat the overwhelming money going toward pensions. There are additional issues with the pension system that allow spouses and children to go on receiving money long after the person who holds the pension dies.
See "Brazil Pension Crisis Mounts as More Retire Earlier, Then Pass Benefits On", Simon Romeo, October 20, 2015