3 ms·

> pension Not sure that is a perk. In EU (not sure about this exact offer in Norway) to get ANY money out of pension, you have to work like 30 years at the ve

by throw098320923 2y ago

> pension Not sure that is a perk. In EU (not sure about this exact offer in Norway) to get ANY money out of pension, you have to work like 30 years at the very same country (not EU). But it is mandatory social insurance (tax) of 10% to 40% of your income.

kgwgk 2y ago
> In EU to get ANY money out of pension, you have to work like 30 years at the very same country (not EU). Quite far from the truth. https://europa.eu/youreurope/citizens/work/retire-abroad/state-pensions-abroad/indexamp_en.htm https://europa.eu/youreurope/citizens/work/retire-abroad/sta... Eligibility periods In some EU countries, you must have worked for a minimum period of time to be entitled to a pension. In such cases, the pension authority has to take into account all the periods you've worked in other EU countries, as if you'd been working in that country all along, to assess whether you're entitled to a pension (principle of aggregation of periods). How your pension is calculated Pension authorities in each EU country you've worked in will look at the contributions you've paid into their system, how much you've paid in other countries, and for how long you've worked in different countries.
- portaouflop 2y ago
  In reality the system is already breaking down bc so few people pay into the pension system for so many old pensioners. Idk about Norway tbh - they seem to have a much more solid social system - but in Germany I don’t expect anything from the pension system in 2060+
  - TypingOutBugs 2y ago
    Norway has an insane sovereign wealth fund worth 3x GDP that they can only withdraw 3% from per year and that oil sales go into (as they’re basically self sufficient on hydroelectricity), they own 1.5% of all global equities. Their pension system is probably the strongest in the world.
  - chongli 2y ago
    Norway’s pension is backed by $1.74T in sovereign wealth funds [1]. I doubt they’ll have the same issues as Germany. [1] https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...
    - portaouflop 2y ago
      That’s nice if you’re Norwegian I guess
- throw098320923 2y ago
  > to assess whether you're entitled to a pension But that is what I am talking about! Maybe you get something, maybe not! And nobody knows if Norway will be in EU in 30 years from now! This is not a stake where you get 10% share of your pension, for working there 3 years (10% of 30 years), but very vague promise. > all the periods you've worked in other EU countries What if I worked OUTSIDE of EU? I worked 15 years in Norway, than moved back to US.... Now I am freeloader and get NOTHING!!!
  - kgwgk 2y ago
    > But that is what I am talking about! Maybe you get something, maybe not! You wrote that in the European Union (nothing to do with Norway) you don’t get ANY (your uppercase) money if you don’t work « like 30 years » at the « very same » country. If you don’t stand by what your wrote so much better because it was false.
    - throw098320923 2y ago
      blablabla, I know PhD from Asia, who worked in Norway for 5 years. Their take is any money they get from pension is a bonus. They may get lucky to break even, without counting 24 years of inflation!
  - kgwgk 2y ago
    > Now I am freeloader and get NOTHING!!! https://dictionary.cambridge.org/dictionary/english/freeloader https://dictionary.cambridge.org/dictionary/english/freeload... a person who uses money, food, a room in a house, etc. given by other people, but who gives nothing to them in exchange
    - throw098320923 2y ago
      Yes, and because you only worked there 15 years, you did nothing and are freeloader! Read laws, locals who only worked 15 years are also not entitled!
      - 2y ago
sega_sai 2y ago
You mean similar to social security in the US ? Where you only can get anything out of it if you have enough credits? In fact it is similar in many countries (i.e. UK) where there is a minimum period required to get anything
- sgerenser 2y ago
  In the U.S. you only need 40 credits (10 years) to get anything out of it. Less if you collect early due to disability. Not sure how similar this is to any of the EU pension schemes being discussed.

kgwgk 2y ago

> In EU to get ANY money out of pension, you have to work like 30 years at the very same country (not EU). Quite far from the truth. https://europa.eu/youreurope/citizens/work/retire-abroad/state-pensions-abroad/indexamp_en.htm https://europa.eu/youreurope/citizens/work/retire-abroad/sta... Eligibility periods In some EU countries, you must have worked for a minimum period of time to be entitled to a pension. In such cases, the pension authority has to take into account all the periods you've worked in other EU countries, as if you'd been working in that country all along, to assess whether you're entitled to a pension (principle of aggregation of periods). How your pension is calculated Pension authorities in each EU country you've worked in will look at the contributions you've paid into their system, how much you've paid in other countries, and for how long you've worked in different countries.

portaouflop 2y ago
In reality the system is already breaking down bc so few people pay into the pension system for so many old pensioners. Idk about Norway tbh - they seem to have a much more solid social system - but in Germany I don’t expect anything from the pension system in 2060+
- TypingOutBugs 2y ago
  Norway has an insane sovereign wealth fund worth 3x GDP that they can only withdraw 3% from per year and that oil sales go into (as they’re basically self sufficient on hydroelectricity), they own 1.5% of all global equities. Their pension system is probably the strongest in the world.
- chongli 2y ago
  Norway’s pension is backed by $1.74T in sovereign wealth funds [1]. I doubt they’ll have the same issues as Germany. [1] https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...
  - portaouflop 2y ago
    That’s nice if you’re Norwegian I guess
throw098320923 2y ago
> to assess whether you're entitled to a pension But that is what I am talking about! Maybe you get something, maybe not! And nobody knows if Norway will be in EU in 30 years from now! This is not a stake where you get 10% share of your pension, for working there 3 years (10% of 30 years), but very vague promise. > all the periods you've worked in other EU countries What if I worked OUTSIDE of EU? I worked 15 years in Norway, than moved back to US.... Now I am freeloader and get NOTHING!!!
- kgwgk 2y ago
  > But that is what I am talking about! Maybe you get something, maybe not! You wrote that in the European Union (nothing to do with Norway) you don’t get ANY (your uppercase) money if you don’t work « like 30 years » at the « very same » country. If you don’t stand by what your wrote so much better because it was false.
  - throw098320923 2y ago
    blablabla, I know PhD from Asia, who worked in Norway for 5 years. Their take is any money they get from pension is a bonus. They may get lucky to break even, without counting 24 years of inflation!
- kgwgk 2y ago
  > Now I am freeloader and get NOTHING!!! https://dictionary.cambridge.org/dictionary/english/freeloader https://dictionary.cambridge.org/dictionary/english/freeload... a person who uses money, food, a room in a house, etc. given by other people, but who gives nothing to them in exchange
  - throw098320923 2y ago
    Yes, and because you only worked there 15 years, you did nothing and are freeloader! Read laws, locals who only worked 15 years are also not entitled!
    - 2y ago

sega_sai 2y ago

You mean similar to social security in the US ? Where you only can get anything out of it if you have enough credits? In fact it is similar in many countries (i.e. UK) where there is a minimum period required to get anything

sgerenser 2y ago
In the U.S. you only need 40 credits (10 years) to get anything out of it. Less if you collect early due to disability. Not sure how similar this is to any of the EU pension schemes being discussed.