Congress has lifted minimum contribution limits next year for the full range of retirement accounts.

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If the government has to backtrack, and charge only the minimum proposed pension contribution, it could lose 2.6 billion reais in revenue in a full year.

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So will the maximum contribution for both pensions and unemployment insurance, and the minimum salary needed to opt out of state health insurance.

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This could be offset, says Mr Maskus, if the rest of the world recycled its tariff revenue to the target country (or made a contribution from other taxes) in return for a higher minimum working age.

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