True, but I always see things like this:
https://www.ipe.com/reports/special-reports/global-defined-contribution/chile-chilean-pensions-under-pressure/www.ipe.com/reports/special-reports/global-defined-contribution/chile-chilean-pensions-under-pressure/10018671.fullarticle
“Concerns that meagre pension benefits will force people into poverty post-retirement have led Chilean workers to demand the nationalisation of the system. Throughout 2016, several mass demonstrations were held in Chile’s largest cities in support of the cause.”
But it keeps rolling on! There were changes made by their socialist President in 2008(?), but they didn’t damage the system.
Thanks for that info.
“Meager benefits” suggest people are not saving/investing as they should.
Perhaps a two tier system - one that is government run similar to our SS, and the other, for those who have the discipline to invest in the market.