Brazil’s Temer Wants Proposal For Pension Reform Within 30 Days

Brazilian Interim President Michel Temer agreed with union leaders Monday to draft a blueprint for overhauling the creaking pension system within a month, as he seeks to restore confidence in Latin America's largest economy.

Temer, who took power last week when the Senate voted to suspend leftist President Dilma Rousseff, has vowed to plug a fiscal gap equivalent to more than 10 percent of economic output last year. Doing so will require sweeping changes to the burdensome pension system, such as raising the minimum age of retirement.