Wow, what an interpretation. you're not Scandinavian and claim to understand how it works there.
Because all European systems are very similar, build on common values.
Ok, so when you interpret your experiences all European countries they are all similar and based on similar values. When someone else does it you don't want to talk about German, UK, France or Spain because you are not interested.
and is that correct too that you don't need to live in Scandinavia to understand the system better than someone who has grown up there, and is used to discuss and debate the local politics defended by the socialists/communist (yes of course they are called social democrats in Scandinavia). Got it.
You are probably just arrived and have no idea what is non-social country.
Try to give a birth here and pay for your kids: kindergarten, etc. Try to lose a job... They will pay you zero. ...and you will understand.
Well I've been here less than 10 years but more than 5, so pretty new compared to SMS and some of the seniors around. How about you?
Lost job once, well the company ran out of money, I could have stayed, but when salary becomes irregular and in the end I was owed more than 9 months salary. So had to find a new job. So some experience in that. and my child was born here too. So what more do I need to understand?
Have you possibly lost job recently and are bitter about that Singapore doesn't take good enough care about you?
Of course, if you are not top earner and have lots of savings.
High taxes in Europe is a part of social protection.
Another socialist illusion, that they try to brainwash everyone to believe in. If we cut taxes we need to shut down hospitals, schools and elder care. Most of the government budget is spend on fat public sector. In Scandinavia public sector is more efficient and less corrupted than in Southern Europe, that keeps it tolerable. But still the high taxes in budget do not go to social protection alone. There's the idea that money is better to be circulated via the wise government, so families first pay high taxes and then go and apply for housing allowances etc.
Plus it still creates the exact problem with the Scandinavian model that it is too easy to slip out of the working life. For 20 somethings who don't want to pick up jobs they don't like, it is too easy to do as the difference between living on benefits is so small. When they grow up slowly they realize the mistake, but that's already too late.
Denmark has made some good changes to these policies, and made it is easier to lay off people, which makes hiring more attractive to companies. Sweden and Finland are far behind, and Norway well the oil sheiks country doesn't really count as nobody else can afford to copy their model.
And what about pension plan: do you want to become a professional trader to manage your money to have enough to retire here?
There's CPF here, which is way more reliable than any of the western Europe's pension plans (Norway excepted). and to top that up with some savings is not that difficult, so there's no need to become a professional trader. It's been done for ages also in Scandinavia as many don't trust and believe on the government pension funds ability to pay up in 30-40 years from now. Nice to know what you have instead of trusting to the politicians.
In my country current workers and professionals pays money to fund old people. It is nice system, because we don't loose money because of inflation: I'm paying now, someone will pay for me when I retire.
Good luck with that. I hope yours more reliable than Greek pension system. The big problem in whole Europe is that the pension promises were made based on growth models that are no valid any more, and the politicians do not dare to make the unpopular changes before it is too late.