Brazil has a comprehensive social security system which funds both medical and dental care, as well as pensions for all workers - whether employed or self-employed- and their dependents.
All workers are obliged to contribute to the national social security system. A regular employee makes contributions of between 8% and 11% of his or her monthly salary, payable up to a maximum threshold. These payments are tax deductible. Foreign nationals who work in Brazil are also required to contribute to the social security scheme, and as such receive the same benefits as a Brazilian citizen.
As a contributor so the Social Welfare Fund, you or your dependents are eligible to receive social security benefits in the case of maternity, if you’re temporarily incapacitated in an accident, if you’re disabled, suffering from a long-term illness, if you die, or if you spend time in prison.
The social security payments you’ve already made in Argentina, Cape Verde, Chile, Greece, Italy, Luxembourg, Portugal, Spain or Uruguay will normally count towards your social security contributions in Brazil since there are reciprocal social security agreements between Brazil and those countries. However, the fact that you’re a citizen of one of those countries listed above does not waive your obligation to pay into the Brazilian social security system if you take up employment in Brazil.
Update 13/12/2010
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from Brazil or to Brazil for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
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When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.