Individual accounts have caught the interest of many reformers of social security retirement programs, both in the United States and around the world. Women's interests and needs are not easy to handle in an old-age security program based on individual accounts rather than social insurance principles.
In this AARP Public Policy Institute Issue Paper, Sophie M. Korczyk of Analytical Services examines the design and operation of the social security systems of Chile, Australia, and the United Kingdom, paying particular attention to how women have fared or are likely to fare under these three systems with individual accounts. The study concludes that women in such programs "face some predictable dangers" that may make it more difficult for them to finance a secure retirement than would be the case in a traditional, defined benefit social insurance program. (55 pages)