IBOV 179,722.48 ▲ 1.30% IPSA 11,315.26 ▼ 1.14% IPC MEX 65,314.78 ▼ 0.18% MERVAL 3,049,455 ▲ 0.51% COLCAP 2,470.26 ▲ 1.86% BVL PERÚ 59,450.29 ▲ 0.11% USD/BRL5.15▼ 0.60% USD/MXN16.99▼ 0.06% USD/CLP936.45▲ 0.24% USD/COP3,155▼ 1.44% USD/PEN3.36▼ 0.18% USD/ARS1,513▲ 0.25% USD/UYU40.24▲ 0.68% USD/PYG5,873▲ 0.47% USD/BOB12.08▲ 3.98% USD/DOP58.56▲ 0.38% USD/CRC446.47▲ 1.09% USD/GTQ7.62▲ 1.63% USD/HNL26.84▲ 1.11% USD/NIO36.62▲ 0.14% USD/VES796.33▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.69▼ 0.06% EUR/BRL5.97▼ 0.61% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 179,722.48 ▲ 1.30% IPSA 11,315.26 ▼ 1.14% IPC MEX 65,314.78 ▼ 0.18% MERVAL 3,049,455 ▲ 0.51% COLCAP 2,470.26 ▲ 1.86% BVL PERÚ 59,450.29 ▲ 0.11% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Business - Brazil Rio de Janeiro

Brazil’s Senate Proposes End of ‘Super Salaries’

By · December 14, 2016 · 2 min read

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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Senate in Brazil on Tuesday approved three projects which senators hope will limit the so-called ‘super salaries’ for public servants. The projects, if passed as laws, will effectively limit wages for public officials and retirees in all government spheres, imposed by the country’s Constitution. The salary received by the country’s Federal Supreme Court Justices will be fixed to a maximum of R$33,700 per month.

Brazil, Brasilia,Senator Katia Abreu speaks in Senate plenary about end of super salary projects,
Senator Katia Abreu speaks in Senate plenary about end of super salary projects, photo by Moreira Mariz/Agencia Senado.
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“If the limit is low, the minimum wage is even lower,” argued Senator Katia Abreu, the rapporteur of the projects. “In a country where the minimum wage is R$870 (per month) we can not have a ceiling (for public officials) the size of what exists in Brazil now. In other countries this difference is much smaller,” added Abreu.

According to the projects, ‘total wages’ earned by public officials consists not only of the monthly salary but also benefits such as housing allowances, daycare, and health care. Others forms of remuneration, such as grants paid by the public agencies for training and specialization courses, will not count towards the limit to be received.

According to Senator Reguffe it is inadmissible that even with the current laws there are some judges who can earn more than R$200,000 per month in Brazil. “If there are loopholes in legislation for someone to earn more than the ceiling, it’s up to us, lawmakers, to create a new law that will close that loophole,” he said at the Senate’s plenary session.

A survey conducted by daily O Globo in November shows that at least ten senators receive wages above the constitutional ceiling. The survey reveals that some of these legislators receive like of ex-governor pensions benefits along with their regular senator’s wages, which lead to ‘super salaries’ that range from R$52,700 to R$67,500.

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