I'm not in the US, so I know little about its social security programs. But isn't Social Security is one of many? Also this paragraph from the linked article s

I'm not in the US, so I know little about its social security programs. But isn't Social Security is one of many? Also this paragraph from the linked article suggests that the 0.7% figure does not include means testing: Indeed, universal participation and the absence of means-testing make Social Security very efficient to administer. Administrative costs amount to only 0.7 percent of annual benefits, far below the percentages for private retirement annuities. Means-testing Social Security would impose significant reporting and processing burdens on both recipients and administrators, undercutting many of those advantages while yielding little savings.