most beneficiaries are not well-equipped to handle. They would generate lower returns, on average, than would an appropriately reformed Social Security system. In financial terms, an asset that is riskier and has a lower yield than is available elsewhere is definitely a bad deal. That, alas, is my verdict, on private accounts.
|Initial charge:||8 percent of the invested rebate|
|Annual charge:||0.9 percent of the invested monies|
|Flat-rate charge:||£2.50 per month|
If deposits to accounts in the United Kingdom average 2 percent of median earnings covered by Social Security in the United States, annual contributions in the United Kingdom would average about 200 and administrative costs would reduce annual returns by 2 percentage points. If contributions