SÃO PAULO, Brazil — In much of the world, workers would find it hard to imagine being able to retire at 55, earning 70 percent of their final salary for the rest of their lives.

But in Brazil, that has been the norm for decades, which helps explain the abundance of silver-haired joggers along Copacabana Beach in Rio de Janeiro at 11 a.m. on a recent weekday.

It also accounts for about a third of all government spending in Brazil, and contributed to a record budget deficit in 2016.

Analysts and politicians across the political spectrum have long recognized that the pension system is unsustainable and a major factor in the country’s continuing economic struggles.