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Date: Tue, 18 Jun 2002 23:31:53 +0000
When I was working on my F-1 student visa, I didn't need to pay
social security and medicare because of the tax agreements between the
US and Switzerland. However, as soon as you're working under an H-1B,
you do have to pay for it, unless you're company has an agreement with
the US (some international companies have that).
I decided not to pay the Swiss social security anymore, because I
simply couldn't afford my 28% taxes here plus 13% for CH (11% plus a
2.8% admin fee!!!). I have now a roth IRA and I think that my chances
of getting something back from the money I invest are much better!
There are treaties between the US and CH saying that, if you pay
social security taxes in the US for at least 10 years and then go back
to CH and retire there, the US will match your retirement money for
the losses you have from not having contributed in CH for your whole
life. But they match it to the level of what you would get in the US,
which by then might be close to zero anyway. So I wouldn't count too
much on that anyway. They have a leaflet about the US and CH treaty at
the SS offices.
My advice is, if you are planning on staying here for more than 2
years and you're not on a student visa, don't kill yourself with
double taxes! There are much safer ways of investing your money!
Good luck
Caroline
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Received on Tue Jun 18 2002 - 23:37:16 PDT
