Social Security: Private Accounts in Other Nations

A Wall Street Journal article describes the experience of other nations with government run private accounts.  If you want to understand some of specifics of the upcoming debate, don’t miss this article.

“Argentina and Bolivia show how heavy the cost of financing the transition to a save-for-yourself approach from a state-run system can be. Sweden and Poland illustrate the advantages of limiting workers' investment options. Singapore shows how workers' eagerness to tap their accounts before retirement -- to buy houses, for instance -- can leave them vulnerable when they reach retirement. And Britain shows how hard it is to regain taxpayer support for private accounts if the government bungles the overhaul.”