Reply #1: Thanks! [View All]

This is a great collection of facts, all in one place.

Unfortunately, the NYT article on how the Chilean privatization scheme turned out to be a failure for people who weren't already wealthy has been buried in their archives, and is now information we'd have to pay for.

As I recall, though, part of the problem with that plan was that the returns were much lower than the average service fee, which ran about 15% per year, eating up a lot of money being put into the plan.

People were handed a very ugly surprise when retirement time came around, with much of their intial contribution evaporated or transferred into the hands of brokers.