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by ivolimmen 1380 days ago
I would really advise you to look into how stuff is organised in the US compared to your country. I once did and came to the conclusion that it looks like they earn more. I pay a really low healthcare insurance fee compared to the US. Their system for pension is also completely different from other countries. They have a 401K. In my case my company pays for my pension. I am Dutch from my stance it would be unwise to move to the USA. Certainly if you take in account that (in my POV) the country is moving backwards (Gun violence, abortion, right-wing, etc. etc.)
1 comments
chrisseaton 1380 days ago
> They have a 401K.

What would you prefer? Defined-benefits, dependent on your company managing your pension? Most people would rather it was independent and invested.

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ivolimmen 1380 days ago
Well I am kind of unique and have a pension that is paid by my employer, and I have a personal pension (sort of a 401K). Do keep in mind that pension fund in the Netherlands are really well guarded (loads of laws). An employer or intermediary could never withdraw anything (neither can you unless you are at pension age).
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chrisseaton 1380 days ago
What happens in 20 years if the company hasn’t invested enough to pay your pension? A big downside of corporate pensions is when they fall short. For example British Airways has like a 3 billion deficit. I bet they wish they just got their money invested by a third party instead!
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ivolimmen 1380 days ago
They have a payment obligation. Required by pension law. Employers are kept up to date by their pension funds (are required by law). Employers are always kept in the loop how their pension is doing and are offered the ability to add to it. There is even a limit into what you can add to it. We also have a pension that is paid by the government. So in the end you get a sum: monthly income = government pension + company pension + personal pension (if you want one)
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chrisseaton 1380 days ago
> They have a payment obligation.

How can you obligate someone to pay in enough to cover inflation, at an unknown level?

Everyone at the time thought BA would be able to cover their pensions - but you can’t predict these things for certain.

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