See here for additional problems with the Chilean Model:
http://economistsview.typepad.com/economistsview/2006/01/chile_confronts.html
TITLE : Chile Confronts Problems Caused by Social Security Privatization
The article is nothing but agitprop. When someone writes that SS is fully funded until 2037 you should know that you are dealing with a lying liberal. SS is cash negative now and will only get worse. The 2037 date only applies if you believe the “trust fund” fairy tale.
Liberals are desperate to try to discredit any successful alternative to SS, whether it is the Chilean model or the Galveston model. You can expect a lot of misleading articles on this subject from here on out in an effort to “save” our Ponzi schemes (SS and Medicare).