March 20, 2019 / 8:30 PM / a month ago

Net savings in Brazil military pension bill seen at $2.77 bln in a decade

BRASILIA, March 20 (Reuters) - Changes to the pensions and pay grades of the Brazilian military will generate net savings of 10.45 billion reais ($2.77 billion) over the next decade, the Economy Ministry said on Wednesday.

The net savings will result from 97.3 billion reais in savings for the pension system, and 86.9 billion reais in extra public spending as a result of changes to salaries and career paths, the ministry said in a statement. (Reporting by Marcela Ayres and Ricardo Brito; Writing by Jamie McGeever; Editing by Sandra Maler)

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