Stripe Will Pay Workers $20k to Leave New York and San Francisco

Re:Stripe Will Pay Workers $20k to Leave New York and San Fr... by ornornor on Friday October 02, 2020 @03:34AM (#24660032)

Outside of the US? In developed economies, you usually have a mandatory retirement "tax" that goes into the public scheme and which pays a minimum amount when you are old enough (65 or 70 usually). It isn't much on its own, maybe enough to clear the poverty line or get close to it so you're also expected to invest for yourself through tax advantaged accounts. Better employers also offer a pension plan for which you pay some and they match it.

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Re:Stripe Will Pay Workers $20k to Leave New York and San Fr... by eru on Friday October 02, 2020 @04:35AM (#24660430)

Details really depend on jurisdiction.

Eg Australia and Singapore have mandatory retirement funds. In eg Germany, the money you pay for the government retirement scheme, just gets paid out straight to current retirees, ie no savings are made at all.

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Re:Stripe Will Pay Workers $20k to Leave New York and San Fr... by secondcoming on Friday October 02, 2020 @05:45AM (#24660792)

> just gets paid out straight to current retirees

Well, considering most state pension schemes are also Ponzi schemes this isn't the case in only Germany. Norway might have an actually sustainable pension scheme?

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Re:Stripe Will Pay Workers $20k to Leave New York and San Fr... by eru on Friday October 02, 2020 @05:53AM (#24660845)

Well, Australian 'superannutation' has private funds. Similar-ish to American 401k.

The Singaporean CPF system is interesting, but perhaps similar to the Norwegian system?

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