Word: chiles
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Look to countries that have private accounts, and the risks appear as real as the promise. High fees overwhelm excellent returns in Chile. Shady claims about returns plagued Britain's scheme. Singapore's plan leaves many asset-rich and cash-poor. Even Sweden, with its relatively sound system, is considering changes to encourage greater active participation in private accounts. Overall, the experience abroad seems to serve up this lesson: no one gets it right on the first try. --By Jyoti Thottam...
...CHILE...
Downside High management fees have eaten up investment gains for many retirees. Benefits for older pensioners still in the former system plus the cost of pension guarantees account for 25% of Chile's national budget...
Easter Island is one of the most isolated patches of land in the world, 2,300 miles off the coast of Chile, a civilization in a bottle. Diamond uses archaeological data to meticulously piece together its decline. Despite its current denuded state, it turns out that Easter Island was at one time home to the largest species of palm tree in the world. It seems the Easter Islanders overtaxed their tiny home's unusually fragile ecosystem. Once they chopped down all the palms, they couldn't make canoes to go fishing in, and soil erosion devastated any attempts at agriculture...
...afford them and they are carefully regulated. They will provide a higher rate of return than the current system, if the economy doesn't tank (in which case the current system may not make it either). And there are social intangibles that come with ownership. When I visited Chile to look at its privatized Social Security system 10 years ago, I met with formerly radical factory workers who proudly brandished their retirement-fund statements and told me they were now paying as much attention to the business page as the sports page in the newspaper. It seemed ownership had invigorated...