Disclaimer: this is awfully complicated, and I’m not an expert What’s most relevant for this discussion is the system for people who are earning now for retire

Disclaimer: this is awfully complicated, and I’m not an expert What’s most relevant for this discussion is the system for people who are earning now for retirement in the future. The amounts are adjusted yearly, but the current maximum rate is about $14300. This is tax funded, and so doesn’t come out of your disposable income. Gaps from illness, unemployment, military service and caregiving are covered. When you start withdrawal, the accrued amount is adjusted for changes in the average national income and your life expectancy based on your age. I.e. the money is paid back to you at a rate that draws your balance to zero at the expected date of your death. If you live longer, it keeps going of course, funded by the people who die earlier. The maximum rate is therefore achieved by retiring at the oldest age (74), or roughly $97000/year with today’s numbers. This would require making well above the national average salary starting at age 13. If you max out your income based pension described above, the base pension gets reduced substantially. Looks like it can go as low as $4300/year of benefits currently. On top of these two pension types, your employer must save at least 2% of your income up to $134000, and pay for insurance that covers contributions if you become disabled. The employer must cover all associated costs. These plans vary a lot and have no maximum. I will add that you need substantially less income in retirement in Norway since you won’t be paying for healthcare, and property taxes are extremely low.