The Role of the fourth pillar in the redesign of social security
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<subfield code="a">The Role of the fourth pillar in the redesign of social security</subfield>
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<subfield code="a">This article summarizes the World Bank's recent criticisms of social security programs and its proposal for a multipillar system of welfare payments and savings. Next, the article addresses important issues about privatization and the major reasons for the financial problems of social security programs. Then, the article illustrates how an existing social security plan may be redesigned into a self-sustaining and financially stable program. Noting the importance of social security, the article argues for strengthening the potential of part-time employment as an additional source of income in old age</subfield>
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