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OPINION SHAPER: JOSE PINERA (int'l edition)Nearly 20 years ago, a Jose Pinera idea that helped transform Chile's economy. Now it is spreading around the globe. As Chile's Labor and Social Security Minister in the late 1970s, Pinera scrapped the state pension system and gave workers control of retirement accounts, funded by mandatory contributions. Workers choose among fund managers that compete for their accounts, now totaling $30 billion. Seven Latin countries are following suit. Soon, Poland will, too. ''When you give people choice, you give them personal freedom and dignity,'' says the Harvard-educated Pinera, who now heads the International Center for Pension Reform in Santiago.
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Updated Oct. 15, 1998 by bwwebmaster
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