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Home Publications Reports Defined Contributions from Workers, Guaranteed Benefits for Bankers: The World Bank's Approach to Social Security Reform

Defined Contributions from Workers, Guaranteed Benefits for Bankers: The World Bank's Approach to Social Security Reform

July 2002, Dean Baker and Debayani Kar

The world has promoted the partial or complete replacement of the Social Security system with a system of individual accounts. This paper compares the administrative costs associated with individual accounts, measured as a share of contributions to the system, with the costs of operating an efficient Social Security system.

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