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This article assesses the current status of Brazil's Social Security System in terms of the social and economic development of the Brazilian population it is intended to serve. It starts with a historical overview of the system. Data from a household survey (Pesquisa Nacional por Amostra de Domicílio) is used to describe the workforce and its relationship with the social security system. The years 1992, 1997, 2002, 2007, and 2012 were chosen to give a series of pictures of the Brazilian population at equal intervals but under different legal circumstances with respect to the implementation of social security legislation. Data with regard to beneficiaries and the corresponding expenditures and revenues of the system are also shown. The situation presented is rather bleak considering that, since 1997, expenditure on benefits has consistently surpassed revenues based on payrolls. Some alternative reform options …