Many nations have public pension insurance plans similar to Social Security, and they have many of the same problems that Social Security has. Privatization has been proposed as a potential solution to these problems. The most successful such privatization has taken place in

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Chile is often cited as a successful example of pension system privatization. In the early 1980s, Chile moved from a public pension system to a privately managed system, where workers contribute to individual retirement accounts managed by private companies. This shift is frequently referenced in discussions about pension reform and privatization.

Many Nations Have Public Pension Insurance Plans Similar to Social