The site was initiated by Jos Pi era, the former Chilean Minister of Labor and Social Security who, at the age of 30, spearheaded that country's pension reform in 1980. But in these days of a global village, I can bring you an idea, a powerful idea, that can save social security by privatizing its provision. We tried this idea in Chile 16 years ago . . . The whole issue has been depoliticized and civil society strengthened. The economy, not surprisingly, has also benefited . . .
Pension reform is at the forefront of the global mind.
The U.K. is the latest to tackle the issue. In early March, the ruling Conservatives proposed to privatize state pensions. In fact, The World Bank has predicted that in the next few years, some 30 countries will initiate such reforms. Many Latin American countries already have, using Chile's model. These reforms, however, also raise many regulatory questions.