Today, the US Social Security system faces a funding shortfall and unsustainable Medicare costs; how will the new administration tackle this challenge without compromising retirees' standard of living? US Pension Reform: Lessons from Other Countries looks at the social pension reforms of twelve other countries, assesses the current US Social Security program, and evaluates how these country-specific models inform opportunities for a much-needed adaptation of the current system.
The authors consider governments' fiscal balances in order to contextualize countries' initial financial liabilities and pension program infrastructure. The book concludes with an integrated reform proposal for Social Security. These prescriptions suggest concrete plans to address issues such as underfunding, benefits for high-income participants and the elderly demographic segment, as well as the creation of an individual account program. This volume forges significant advances and boldly confronts the challenge of reconstructing the US Social Security program.