20% of Chile's "successful" system is eaten up in fees.
BS
This is a lie. Perhaps you are just repeating the lie mindlessly, or maybe you are lying intentionally. I don't know.
But you ought not to do it in any case.
You've been here on FR for ten days. Maybe you should read and get use to the anti-liberal messages here before you pipe up.
Sorry, I based my remark on tonight's CBS news report which stated that 10% of salary was invested and an additional 1% tax was collected to cover the administrative fees. CBS news would never mislead me, right?
The article also stated that returns have been averaging slightly over 10%. Where did you get the 20% overhead figure?