The Americas

Brazil's government proposes setting retirement age at 65

  • Brazil's President Michel Temer, right, talks with Economy Minister Henrique Meirelles, during a presentation meeting of security reforms to National Congress leaders, at the Planalto Presidential Palace, in Brasilia, Brazil, Monday, Dec. 5, 2016. (AP Photo/Eraldo Peres)

    Brazil's President Michel Temer, right, talks with Economy Minister Henrique Meirelles, during a presentation meeting of security reforms to National Congress leaders, at the Planalto Presidential Palace, in Brasilia, Brazil, Monday, Dec. 5, 2016. (AP Photo/Eraldo Peres)  (The Associated Press)

  • Brazil's President Michel Temer smiles during a pension plan proposal to National Congress leaders, at the Planalto Presidential Palace, in Brasilia, Brazil, Monday, Dec. 5, 2016. Brazil's government is proposing fixing the minimum retirement age at 65 as part of an overhaul to a pension system. (AP Photo/Eraldo Peres)

    Brazil's President Michel Temer smiles during a pension plan proposal to National Congress leaders, at the Planalto Presidential Palace, in Brasilia, Brazil, Monday, Dec. 5, 2016. Brazil's government is proposing fixing the minimum retirement age at 65 as part of an overhaul to a pension system. (AP Photo/Eraldo Peres)  (The Associated Press)

  • CORRECTS TO PENSION REFORM FROM SECURITY REFORM - Brazil's Economy Minister Henrique Meirelles smiles during a pension plan proposal to National Congress leaders, at the Planalto Presidential Palace, in Brasilia, Brazil, Monday, Dec. 5, 2016. Brazil's government is proposing fixing the minimum retirement age at 65 as part of an overhaul to a pension system. (AP Photo/Eraldo Peres)

    CORRECTS TO PENSION REFORM FROM SECURITY REFORM - Brazil's Economy Minister Henrique Meirelles smiles during a pension plan proposal to National Congress leaders, at the Planalto Presidential Palace, in Brasilia, Brazil, Monday, Dec. 5, 2016. Brazil's government is proposing fixing the minimum retirement age at 65 as part of an overhaul to a pension system. (AP Photo/Eraldo Peres)  (The Associated Press)

Brazil's government is proposing fixing the minimum retirement age at 65 as part of an overhaul to a pension system many say is unsustainable.

Currently, Brazilians have the option of retiring based on the number of years they have worked, and many retire in their mid-50s.

President Michel Temer presented the pension plan to congressional and union leaders Monday night. The proposal goes to Congress on Tuesday.

Brazil is suffering a deep recession, and the government hopes a pension reform will alleviate pressure on public finances and help stimulate growth.

In announcing the plan, Temer said: "Reforming social security today is the only guarantee of ensuring a social security system in the future."