The best phrase I read by someone. "Retirement is a financial goal - it has nothing to do with age". And this makes huge sense...
well in this context it generally means the age someone starts to receive state pension.
Denmark to raise retirement age to 70
121–130 of 1001 posts
Re: Denmark to raise retirement age to 70
#122Earlier quoted context omitted.
Self paid?
No, the taxes we pay are going to private institutions driven by profit instead of into funding public institutions that don't have this self-interest. This is not a model I support.
I see.
I think it is a balance.
Auctioning this work to private companies should theoretically make it more cost efficient - and I think it is.
At least I hear that workers a much more stressed than they were historically, so I don't hope this comes with no benefit...
Re: Denmark to raise retirement age to 70
#123Earlier quoted context omitted.
2 has some options. Increase the number of (young) immigrants. Increase the birthrate (has anywhere managed this?).
Mormons and Amish have above replacement fertility rates. Millionaires in western countries also have above replacement fertility rates. To me it seems rather obvious: you need both the will and the means to raise 3+ children.
Shouldn't it be the will or the means, not the will and the means, giving how relatively poor the Amish are in financial terms?
Re: Denmark to raise retirement age to 70
#124Earlier quoted context omitted.
This is about public pensions. Denmark has private pensions like the 401k system in the US. People can start tapping into these up to 5 years before they are 70. In reality most people will go down in time and partially tap into private pensions and saving long before they turn 70. This is opposed to other European countries, like Germany, that does not have these private pensions, but only retirement insurance.
Germany has private pensions. Just as in Germany Denmark funds it's pensions through taxes, Germany additionally funds them through employee contributions.
But these are organized as insurances, right?
In Denmark you have ratepension, which truly is an investment account and not an insurance product.
Re: Denmark to raise retirement age to 70
#125Earlier quoted context omitted.
Wouldn't the fourth way be via increasing either birth rate or immigration?
You have to grow your economy at a rate that allows you to pay for the additional pensioners. Birthrates seem very hard to change and even if change would happen it is much too slow. Germany did the experiment on immigration and has not seen GDP growth for half a decade. There the system is failing far worse in some ways, but in Germany employees are paying directly for the pension plans, so the state just raises the…
Because Germany does nothing to attract and keep employable immigrants. They only want to keep immigrants which completely tow the line of only speaking German, which inevitably attracts mostly bottom of the barrel. Significant portion of highly qualified workforce in Germany is umemployable because of refusal to conduct business in anything other than German.
Also, the beaurcracy is the real culprit for growth.
Re: Denmark to raise retirement age to 70
#126Re: Denmark to raise retirement age to 70
#127It's utterly insane that people need to work more and longer as technology increases productivity. A truly dystopian economic system. In 1930 Keynes projected that by 2000 their grandchildren could work 15 hours per week¹. Now the projection is that we will work more and longer in the future. And what is this labor supposed to even do? How much of even current work really increases wellbeing? Graeber's thesis of bull…
If you wanted to live to a 1930s standard of education, healthcare, food, entertainment, interior decorarion, transportation, savings etc etc you could most definitely do it on very few hours of work. Lots of people associated with homesteading, tiny houses etc do so.
That said I agree we should be further ahead in paving a way to paradise.
Re: Denmark to raise retirement age to 70
#128I would like to point to a topic about extending pilots’ mandatory retirement ages. Most pilots plus or minus retirement age are unable to pass the physical or mental demands of the job, so only 25-30% are able to work and not on short- or long-term disability. Some choose to work privately past retirement age. I don’t have any numbers for pilots who decided to leave, were forced out, or could not pass the training.
Extending the retirement age doesn’t really help the situation much, as you need younger and cheaper pilots to fulfill the roles of pilots who are retiring.
The problem is, becoming a pilot takes a fair amount of time, over $100k in training fees, low pay for a while until fully certified with hours in, a very mobile lifestyle, and now you are subjected to physical as well as mental demands of the job certification standards.
Re: Denmark to raise retirement age to 70
#129It's utterly insane that people need to work more and longer as technology increases productivity. A truly dystopian economic system. In 1930 Keynes projected that by 2000 their grandchildren could work 15 hours per week¹. Now the projection is that we will work more and longer in the future. And what is this labor supposed to even do? How much of even current work really increases wellbeing? Graeber's thesis of bull…
> In 1930 Keynes projected that by 2000 their grandchildren could work 15 hours per week.
Couldn't they, having the same standard of living as in 1930?
Re: Denmark to raise retirement age to 70
#130Earlier quoted context omitted.
Raising the birth rate is extremely difficult and immigration will destroy a country's culture if not managed properly. For an interesting case study, compare Japan (who refuses to allow mass immigration and is at risk of going extinct) and the UK (who has embraced it and is on the way to becoming Muslim-majority). It'll be interesting to see in 50 years which one has had better outcomes.
According to Wikipedia[1] you are quite off base as Muslims form only 6.5% of the population as opposed to Christians (46.2%) and a-religious (37.2%). [1] https://en.wikipedia.org/wiki/Religion_in_the_United_Kingdom
Any data on the birthrates of the younger generations being born today?