Another major reform in the financial system was privatization of the pension system. This reform allows individuals to save retirement money in fully funded privately managed accounts rather than relying on the government transfer program of collecting payroll taxes from the active population and transferring them to retirees as pensions
Good article. Maybe the US could learn something from Chile about their equivalent of the Social Security system.
3 posted on 05/30/2003 1:33:02 PM PDT by Fair Paul