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It is obvious that accumulation of means on personal accounts is most The rational mechanism of financing of old-age pensions, as date Retirement it is in advance known, and the person during long term can

To accumulate necessary for this means. In case of physical inability or death

The situation diametrically varies. It to. These accidents occur Unexpectedly and their exact date, naturally, cannot be known, more Expedient it appears to distribute an insurance part between many Clients. Thus, the difference meanwhile that was possible to save up

The victim, and a total sum of pension payments of this sort it is paid by all

Clients as each of them can be subject to accident and To be compelled also to use contributions of the others.

_11. Increase in accumulation of the capital _

The nature of the pension system based on accumulation of deposits on the obverse

Abacus, provides accumulation of means in the form of savings. As these Savings are accompanied by investments, it inevitably leads to that

The volume of the saved up capital in economy is more than that it is possible to save up at

The pension mode based on a principle of distribution.

The increase in accumulation of the capital leads in due course to level increase

Manufacture and employment.

Thus, the pension reform spent in Chile in 1981, has allowed To create system which not only gives to the clients of more blessings At smaller expenses, but also positive impact in addition makes on

Economy as a whole, promoting increase in a level of production and employment.

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_it 5. VALUE of REFORM _

After the lapse of ten years from the moment of introduction in Chile new pension system

It is possible to bring certain results of its functioning. The sizes of pensions, which

Receive insured in new system, as a rule, more than in the old

To system. Speaking about macroeconomic aspect, it is necessary to notice the obvious

Growth of the market of the capital, and, as consequence of it, occurrence of the considerable free

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Large Weather Icons Large Weather Icons represent a number of weather conditions that are common for software, weather Web sites, and mobile gadgets. The images are available in all resolutions standard to Windows, Mac OS, and other systems. The largest versions are huge 512x512 pixel icons with vector sources in Adobe Illustrator (.ai) format easily affordable and ready to be printed or used in presentations in highest quality.

Standard Chess Icons Design chess games and Web pages faster with Standard Chess Icons! All white and black figures are provided as 2D and 3D icons, the graphics for timer and chess board are also present.

24x24 Free Application Icons 24x24 Free Application Icons collection contains all the images that are required for your web project or software toolbar.

24x24 Free Toolbar Icons 24x24 Free Toolbar Icons pack has all the images you need for your web page or application toolbar.

Yellow Web Buttons Yellow Web Buttons offer a set of navigation images for social networks and custom web sites. The icons are easy on the eye, and provide a uniform theme painted in yellow color. The delicious buttons for delicious sites:)