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Yes, there are examples of countries that have successfully implemented the practices outlined in the content. For instance, the United States has a social security system where over 99% of revenues go toward benefits and less than 1% for overhead. This is in contrast to countries with privatized systems like Britain and Chile, where large fees are charged by investment companies, reducing net returns and increasing risks. However, it's important to note that success can vary depending on various factors such as the country's economic conditions, government policies, and societal factors.
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The economics of social security is not too complicated: over 99% of social security's revenues go toward benefits and less than 1% for overhead. In countries with privatized systems, the fees are far higher. In Britain, alarm over large fees charged by investment companies led to government regulators imposing a "charge cap." A system with British-level management fees will reduce net returns by over a quarter while increasing risks. Worse, in countries with privatized systems like Britain and Chile, government spending is still necessary to avoid widespread poverty among the elderly.
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