Pension reform generates more savings than promised, banks and fintechs in the crypto world and what matters in the market

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Close to its three-year anniversary, the pension reform should bring more savings to government coffers than was projected when it was approved in 2019.

In numbers: the resource savings provided between 2020 and 2022 with the largest expenditure in the Budget should reach BRL 156.1 billion.

• The value is 78.8% higher than expected for the same period when the text was approved by Congress — R$ 87.3 billion, in a number corrected for inflation.

The unprecedented estimate obtained by the Sheet is by legislative consultant Leonardo Rolim, former secretary of Social Security and president of the INSS in the Jair Bolsonaro (PL) government.

Reviews: for entities that provide assistance to the insured, however, the economy comes along with a scenario of excessively harsh rules, such as the calculation of the pension for death, which failed to pay the full amount.

Relief: Treasury calculations had already shown that the expected hole in public accounts had diminished.

• The deficit, which before the reform would reach 11.64% of GDP in 2060, would reach 8.67% in that range according to last year’s forecast. In 2022, the expected hole has been revised to 7% of GDP.

More on public accounts:

Projections for 2023 GDP show premature decoupling between market and government.

Crypto attracts fintechs and banks

Despite the crypto winter, as the sustained drop in cryptocurrency prices is called, Brazilian banks, fintechs and brokerages have been betting on offering products and services related to this universe to their customers.

Understand: Nubank, PicPay, BTG Pactual and XP have recently started to offer the possibility of buying and selling the most traded cryptos, such as bitcoin and ethereum. The option will be launched in September by Genial and is also in Santander’s plans.

• Mercado Livre entered this universe even further through its fintech, Mercado Pago. In addition to offering the purchase and sale of cryptos, it launched its own cryptocurrency, MercadoCoin, which will act as a cashback for purchases.

In numbers: the institutions’ bet has been met with a response from customers, at least in the case of Nubank.

• The fintech announced at the end of July that it had reached one million customers on its platform for the purchase of bitcoin and ethereum, just three weeks after making the tool available.

Yes but…Investors interested in debuting in this market need to be careful and understand that their quotes are more volatile than those of traditional assets.

• Nord Research crypto expert Luiz Pedro Andrade recommends that the allocation of these assets in a portfolio does not exceed 2%.

More about financial markets:

financial phobia

Feeling anxious, feeling achy, or breaking out in a cold sweat just opening the bank app to look at your card statement.

These problems characterize “financial phobia” and affect many people – about 20% of the British population, according to a survey by psychologist Brendan Burchell, who created the expression.

Understand: Burchell’s 2003 study says that the idea of ​​having to face their personal finances makes these people feel emotional and physical discomfort, which includes irritation, anxiety, dizziness, immobilization (being “stuck”) and having the impression of being sick.

• The psychologist told the Sheet that the feeling does not only affect those who are in debt, but makes it even more difficult to deal with debts.

From four cards to R$350,000: see here the story of the cleaning lady who stopped spending on superfluous items and managed to buy her own house.

UK’s ‘Summer of Discontent’

Inflation and the consequent increase in the cost of living for the British generated a movement of strikes in the United Kingdom that has been dubbed the “summer of discontent” – alluding to the stoppages of the “winter of discontent” in the late 1970s.

What explains: energy costs soared after the war in Ukraine and have put pressure on inflation in much of Europe.

• Estimates suggest that the price of gas and electricity for British households will be three times higher this winter than in the past.

In numbers: Inflation in England reached 10.1% in July in the accumulated of 12 months, and the forecast is that it should get worse in the coming months. According to Citi, it could reach 18% next year, the highest rate in nearly 50 years.

Winter is coming: as in the series “Game of Thrones”, the fear about the arrival of winter grows among Europeans.

• It is during this period that the demand for gas among families grows, and the forecast is that 10% of the income of the British will be destined to pay the energy bills.

Even a default campaign was launched. More than 110,000 people have already signed up to the online manifesto Don’t pay (“Don’t pay”), which calls on Britons to boycott paying electricity bills from October 1, the day the energy price is expected to rise.

among the workersthe strikes have already affected the railway sector, the train companies and have reached the dockworkers in the port of Felixstowe, through which half of the UK’s container traffic circulates.

The British government and parliament are in motion.

From October, all households will start receiving discounts on their energy bills, up to £400, but the cost will still be one of the main challenges to be faced by the new prime minister, who takes office in early September.