• 0 Posts
  • 30 Comments
Joined 1 year ago
cake
Cake day: June 29th, 2023

help-circle


















  • We got two (three, if you count buying homes as a form of pensions scheme).

    The state gives you 18,1 % of your yearly salary to your future pension. This will be the largest part of your pension payouts.

    Then you have obligatory pension schemes your employers have to set up for you. If you work in the private sector, the percentages are minimum 2 % and max 7% of your salary. If you work in the public sector, you will get 5,6 % of your salary put away for pensions. You will also get around 4 % to what is called AFP. So technically working in the public sector gives you up to 9 % of your salary.

    The third one is what you do on your own. Buying homes is a big part of our economy here. If you are lucky, you can sell your home for a huge profit when you retire and move somewhere else/scale down.


  • Where I live, it is mandatory for employers to start a pension scheme for all employees. The scheme is controlled by the employer until you quit. Then it is up to you to find it a good home and make sound investing strategies. You can’t access the money until your are at least 62 years old.

    If you find a new job, your new employer will assume responsibility over it and make sure payments are made into it on your behalf until you quit/retire.

    Mandatory monthly payments your employer have to make are minimum 2 % and up to a maximum of 7% of your salary.

    It is a part of your terms and conditions when you apply for a job. The employer can’t take the percentage out of your salary. They have to take it from the business itself.