This requires amassing the capital to get started. Does it seem harder to get all that capital than to get half of it? Really you only need to get 7% of it this

This requires amassing the capital to get started. Does it seem harder to get all that capital than to get half of it? Really you only need to get 7% of it this year to pay the over-18s. What investments should be used in the account exactly? What do you do about the temptation of the administrators to "borrow" from the reserves, direct the investments to benefit themselves, hoard extra resources or underfund the plan by estimating the future revenues or expenses a bit too high or low? Your idea isn't bad exactly, just complicated by these extra provisions such as "the basic income shall be derived from investment proceeds from individual accounts."