Chapter

Restructuring Pensions for the Twenty-first Century: The United States’ Social Security Debate

Gordon L. Clark

in Pension Security in the 21st Century

Published in print November 2003 | ISBN: 9780199261765
Published online August 2004 | e-ISBN: 9780191601248 | DOI: http://dx.doi.org/10.1093/0199261768.003.0009
 Restructuring Pensions for the Twenty-first Century: The United States’ Social Security Debate

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This chapter focuses on the debates over the privatisation of Social Security in the United States. It is argued that privatisation alone will not improve Social Security’s finances nor raise returns on employees’ payroll tax contributions. Private accounts will shift the financial risk of the basic pension to the individual and sow the seeds for unravelling the US social insurance system.

Keywords: United States; social security reform; privatisation; pension reform; public and private responsibilities; private accounts

Chapter.  12574 words.  Illustrated.

Subjects: Financial Markets

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