RT Book, Section A1 OECD T1 Brazil JF OECD Pensions at a Glance YR 2011 FD Mar 17 SP 329 OP 331 AB Brazil: Pension system in 2008 The Regime Geral de Previdência Social (RGPS), covers the private sector workforce. It is financed through payroll taxes, shared by the employer and the employee, revenues from sales taxes and federal transfers that cover shortfalls of the system. It is a mandatory, pay-asyou- go financed single-pillar scheme, which is operated by the National Social Security Institute. PB Organisation for Economic Co-operation and Development DO 10.1787/pension_glance-2011-81-en UL http://www.oecd-ilibrary.org/;jsessionid=4ax13vyf2k13.x-oecd-live-01content/chapter/pension_glance-2011-81-en