Comparison of Social Security Systems in Different Countries
Open Access
Author:
Yener, Suzan Nora
Area of Honors:
Actuarial Science
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
Ron Gebhardtsbauer, Thesis Supervisor Ron Gebhardtsbauer, Thesis Honors Advisor Lisa Lipowski Posey, Faculty Reader
Keywords:
social security pension defined benefit defined contribution
Abstract:
Since civilizations were first formed, the public would seek ways to look after deprived members of society. To organize these efforts and provide economic support for all citizens, governing bodies have initiated various programs to help the public maintain standards of living after they have left the workforce. Such benefit systems have developed differently in countries across the world. Some countries have chosen to fund these benefits from a general pool that each citizen pays into, while others accumulate retirement funds, based on employment history, in individual accounts.
This thesis examines nationwide program development in four different countries: the United States, Australia, Chile, and Sweden. The strengths and weaknesses of each social security system are examined. Taking into account these positive and negative societal effects, program improvements are suggested for each country, and recommendations for future studies are made.
