Not Everyone in Tech Cheers the H-1B Visa Program

Re:Not Everyone in Tech Cheers the H-1B Visa Program by ajdlinux on Monday February 06, 2017 @01:04AM (#13576914)

It's interesting looking at the US Social Security system coming from a country (Australia) where the social security system doesn't have the facade of being a contributory system and is funded entirely out of general tax revenue - there's no such thing as "paying in" to the social security system. There's still a bit of an attitude of "I've paid my taxes, now I deserve my pension", but the system doesn't act as a piggy bank for you to save up over time. (For that, we have a mandatory minimum 9.5% superannuation/401k-equivalent contribution that you invest in shares/property/bonds etc.)

In my mind, this is fairer than the US system, but there is a good case to be made that keeping elements of a "contributory" system helps to maintain political support for the welfare state among people who are a bit more, um, selfish.

(An interesting piece I read a while ago that describes how the "contributory" nature of Australia's social security system in the 1940s was actually just a cover for a general tax increase: http://www.abc.net.au/news/2014-05-27/berg-chifleys-politica...)

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Re:Not Everyone in Tech Cheers the H-1B Visa Program by davidgay on Monday February 06, 2017 @01:16AM (#13576971)

> where the social security system doesn't have the facade of being a contributory system and is funded entirely out of general tax revenue

So I'm curious: can you move to Australia at 64, work for one year, retire, and receive a full income from social security?

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Re:Not Everyone in Tech Cheers the H-1B Visa Program by jamestnz on Monday February 06, 2017 @04:24AM (#13577880)

Not certain about Australia, but here in NZ we call it "NZ Super" (or just "the pension") instead of "social security". It is a universal superannuation which kicks in at age 65, is not means-tested, and is paid in the same amount to everyone who qualifies. The money that the fund invests/disburses comes from an annual government contribution to the NZ Super Fund, determined by some legislated formula. Individual workers/earners don't "pay into" it in any way that is separately taxed or monitored.

To collect the pension you simply need to be lawfully living in the country (e.g. citizen or permanent resident status), have made NZ your primary/main country of residence (usually by living and working here), and you must have lived in New Zealand for 10 years since the age of 20, of which five of the years must have been since the aged of 50 years.

If the above applies to you, you should sign on and start getting your $792.34 per fortnight :-)

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Re:Not Everyone in Tech Cheers the H-1B Visa Program by ajdlinux on Monday February 06, 2017 @04:32AM (#13577929)

Over in Australia, "social security" is merely the technical name for all of the government welfare programs handled by the Department of Human Services, including Age Pension, Youth Allowance (study benefits), Newstart Allowance (unemployment benefits), Disability Support Pension and so on and so forth. No-one really uses the term "social security" unless you're reading the legislation. With no further qualification, "the pension" means the Age Pension.

What we call "super" you'd call KiwiSaver, except over here it's mandatory. I suspect the NZ use of the term "superannuation" is probably closer to the original/traditional use of the term.

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Re:Not Everyone in Tech Cheers the H-1B Visa Program by ajdlinux on Monday February 06, 2017 @04:26AM (#13577903)

There is a residency requirement. But no requirement that during that residency period you actually need to be working or otherwise "contributing" to the system.

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