Spain Gets Smart on Pensions
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  • Pete

    It makes sense.

  • Jacksonian_Libertarian

    This isn’t a good solution, it basically just kicks the can down the road. In Chile, they set up a system with individual accounts, where 50% of each person’s Social Security payment went into their own account, and could be willed to heirs if any was left unused. This system permanently solved Chile’s pension problems, while at the same time creating a huge pool of money to finance Chile’s economy. The Ponzi scheme pension system was turned into an investment scheme pension system using the most powerful force in the universe (Compounding Growth).

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