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The level of benefit was deliberately set low to encourage workers to also make their own provision for retirement.
These services typically include provision for retirement pensions, disability insurance, survivor benefits and unemployment insurance.
As well as augmenting individual provision for retirement, the scheme was intended to be a source of capital for investment in the domestic economy.
The other aspect was the transfer of the farm from father to son, which was aided by fiscal provisions for retirement and pensions in, e.g. Norway.
Missionaries raise the funds needed to pay for salaries and housing, provide medical and life insurance, fund children's educations, and provision for retirement.
John B. Jones Jr., an analyst at Montgomery Securities, a San Francisco brokerage, said that with the provision for retirement benefits, the company could have a loss of $1.7 billion.
On the other hand, if one assumes that the main source of savings is through wage-earners making provision for retirement, then and the indirect responses (via increased k) reinforce the effect of the transfer.
He was among the government's leading advocates of compulsory saving for retirement, which he saw not only as a supplement to public provision for retirement but as a source of funding for public investment in economic development.