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Problems Encountered with Social Security Private Accounts in the United Kingdom
AARP 
Mar. 9, 2005
Excerpt: Since 1987, the United Kingdom (UK) has allowed employees to voluntarily withdraw from part of social security by reducing their contributions and receiving reduced benefits. Instead, employees contribute to an individual account. This Fact Sheet outlines problems the UK has experienced with this system of voluntary carve-out accounts (VCOs).
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