THE ISSUE OF POPULATION AGING AND THE CRISIS OF THE PENSION SYSTEM: ENSURING THE FUNDAMENTAL RIGHT TO SOCIAL SECURITY IN BRAZILIAN SOCIETY

Abstract

The objective of this article is to demonstrate the impact of population aging on the pension system and to analyze the historical evolution of social security in Brazil to understand the need for pension reform in respect of the principle of financial and actuarial balance. The research is justified by the increase in the elderly population, the increase in life expectancy, and the low birth rate which, as a consequence, generate a reduction in the number of economically active people and an increase in the number of inactive people, as well as due to the pension crisis caused by the mismanagement of pension fund institutions in Brazil. Using the deductive method with a bibliographic-documentary methodology, it is concluded that the pursuit of financial and actuarial balance in the Brazilian social security system is essential; however, it cannot conflict with the fundamental right to a dignified retirement that guarantees many other social rights such as health, housing, and food, for example. Therefore, the adoption of public policies focused on family planning and the rights of the elderly needs to be prioritized.