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Chile and the Failure of a Privatized Pension System
National Public Pension Coalition Link to more items from this source
[Opinion]
Aug. 24, 2016
"In 1981... Chile radically reformed its pension system. It changed from a traditional public pension system to a system of mandatory individual retirement accounts.... The reformers who created Chile's privatized pension system promised that everyone would achieve 70 percent income replacement in retirement; the reality has been closer to 38 percent. The average monthly pension benefit is a meager $400, but many workers only have between $160 and $260 per month, hardly enough to sustain a dignified retirement."

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