Questions and Answers (cont'd 1)

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Questions and Answers (cont'd)

  • Will individual accounts solve the problem by themselves? [No]

  • Should they be considered as part of a more comprehensive reform proposal? [Yes]

  • What other types of reforms need to be considered?

    • Strengthening progressivity (e.g., replacement rates)
    • Indexing formulas
    • Retirement ages
    • Tax base and rates