August 24, 2009

PENSION PROBLEMS: THE “VIAGRA EFFECT.” “The widespread tendency in Brazil for men to remarry women several decades younger — called the ‘Viagra effect’ — is undermining the country’s pension system, researchers warned Tuesday. The report, by Brazil’s National Social Security Institute (INSS), showed that a trend of men in their 60s marrying women half their age was leaving a big pool of young widows collecting benefits for much longer than anticipated. . . . Under current laws, when a retired man dies, his wife continues to receive his full pension until her own death. According to the INSS, 94 percent of pensions go to women.” (Via Tyler Cowen.)

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