2023-01-272023-01-272019-09CARVALHO, André Cutrim; CARVALHO, David Ferreira; AIRES, Alana Paula de Araújo. O déficit do sistema previdenciário brasileiro: análise econômica para o período de 1995-2018. Espacio Abierto, online, v. 28, n. 3, p. 129-172, jul./set. 2019. Disponível em: http://repositorio.ufpa.br:8080/jspui/handle/2011/15225. Acesso em:.2477-9601https://repositorio.ufpa.br/handle/2011/15225At the present juncture, the social security model in Brazil represents a serious structural problem of Brazilian public accounts. It is precisely in this context that the country is undergoing the need for emergency imposition of a “pension reform” with the purpose, above all, of making the constitutional rights of Brazilian workers more flexible. In general terms, the problem of the social security deficit is caused by the financial imbalance of the Brazilian social security system, which is manifested at the moment that the income is less than the expense. This problem characterizes the crisis of the social security system, which is due to several reasons: 1) gradual aging of the population; 2) reduction of population growth; 3) difficulty in making changes or adjustments to the rules of pensions through a pension reform; and 4) changes in the labor market. In this context, we identify the research problem; we can formulate, from now on, the fundamental objective of this article: to investigate and subsequently discuss the determinant causes of the deficit of the social security regime in between 2005- 2018, which put the country in this in a crisis condition. The main conclusion is that part of social security revenue, instead of financing pensions, is simply diverted to other uses or used as an available financial asset, which ends up imparting a vain idea of a high primary surplus by reducing net debt consolidating the Union, providing an imaginary perception of sustainability to the federal government’s solvency indicators and the Central Bank’s credibility with the financial market.Acesso Abertohttp://creativecommons.org/licenses/by-nc-nd/3.0/br/Déficit previdenciárioCriseSistema de previdência socialSeguridade socialSocial security deficitCrisisSocial security systemSocial securityArtigo de Periódico