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Denmark to raise retirement age to 70

telegraph.co.uk

141–150 of 1001 posts

Re: Denmark to raise retirement age to 70

#141

Earlier quoted context omitted.

2 has some options. Increase the number of (young) immigrants. Increase the birthrate (has anywhere managed this?).

Israel is the only developed country which has a sustained positive fertility rate.

Seems like the US taxpayer should subsidize all countries as much as they subsidize Israel. That would fix it.

Re: Denmark to raise retirement age to 70

#142

I 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.…

There are quite a few highly paid professions where the main purpose of that profession’s union seems to be to prevent there being an adequate supply of the professionals.

Is that what’s happening here?

Re: Denmark to raise retirement age to 70

#143

Earlier quoted context omitted.

What does "reduce pensions" mean? Pensions are people's property. You can take pensions like you can confiscate property, a la communism.

So close! Pensions are actually property taken from the younger generation and given to retirees.

Isn't it essentially a thanks/appreciation for what the people built once they retire ? Without theire work, there would be nothing for the younger people to use and benefit from.

Would not be very motivational if you work hard your whole life and then you are considered a useless burden once you retire.

Re: Denmark to raise retirement age to 70

#144
post #9

This is because of their low birth rate primarily right? I think the system has failed at this point, when you are expected to work that long.

But people are living longer, in better health (I think but didn’t verify with data) and entering the workforce later (due to more secondary schooling). Setting aside the issues of declining birth rate for a minute, this seems like a reasonable adjustment to the other factors?

So what do we do with all the productivity gains we’ve had?

Re: Denmark to raise retirement age to 70

#145

Earlier quoted context omitted.

It is. And this is the case in all western countries. It is just being realized in different ways. Fundamentalle there are 3 ways to cope 1. reduce pensions 2. Raise taxes 3. Decrease amount of benefit receivers. Denmark choose number 3

Can also just raise taxes on the super rich

A 99.9% wealth tax on US billionaires would cover the annual deficit for about 1.5 years.

The scale of the problem is absolutely mind-blowing.

Re: Denmark to raise retirement age to 70

#146
post #132
post #9

This is because of their low birth rate primarily right? I think the system has failed at this point, when you are expected to work that long.

The first pension was put in place by Bismark as a way to "steal the clothes of the socialists whilst they were bathing". It was seen as the cheapest social benefit because life expectancies were so low. A popular policy delivered at low cost to the state. That people are living longer is why the system is failing. It's an interesting thought experiment to consider whether any country would introduce a state pension…

I'm in the US, but I'd be happy if social security ages were pushed out to 75 or 80 but benefits preserved. I'm saving heavily for retirement, but the biggest challenge is figuring out how long you're going to live. If you have sort of a defined and horizon, it's much easier to calculate.

Re: Denmark to raise retirement age to 70

#148

Earlier quoted context omitted.

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?

The Amish have the means because their means are not measured in normal dollar amounts. Most of what they have is traded and transacted outside of the dollar economy.

In fact, they may majority be of subsistence in which case the entire dollar value of all of their stuff is simply the land.

Re: Denmark to raise retirement age to 70

#149

I 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.…

There are quite a few highly paid professions where the main purpose of that profession’s union seems to be to prevent there being an adequate supply of the professionals.

Like med schools in the US

Re: Denmark to raise retirement age to 70

#150

It'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.

It's not necessarily about the standard of living, but about production going into the zero or negative sum status consumption. Or as Keynes puts it:

> Now it is true that the needs of human beings may seem to be insatiable. But they fall into two classes -- those needs which are absolute in the sense that we feel them whatever the situation of our fellow human beings may be, and those which are relative in the sense that we feel them only if their satisfaction lifts us above, makes us feel superior to, our fellows. Needs of the second class, those which satisfy the desire for superiority, may indeed be insatiable; for the higher the general level, the higher still are they. But this is not so true of the absolute needs -- a point may soon be reached, much sooner perhaps than we are all of us aware of, when these needs are satisfied in the sense that we prefer to devote our further energies to non-economic purposes.

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