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Denmark to raise retirement age to 70

telegraph.co.uk

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Re: Denmark to raise retirement age to 70

#251

Post by leereeves »

Calavar wrote: post #226
reliabilityguy wrote: post #149

Earlier quoted context omitted.

Like med schools in the US

The US docotor shortage is a myth. Wait times are the result of beauracratic nonsense has reduced the efficiency of the existing physician workforce [1, 2]. [1] https://jamanetwork.com/journals/jama/article-abstract/26132... [2] https://hbr.org/2020/03/the-problem-with-u-s-health-care-isn...

I think it would be more accurate to say that there is no shortage of healthcare providers, because there are many NPs and PAs.

Without NPs and PAs, I'm sure there would be a shortage of healthcare providers.

Re: Denmark to raise retirement age to 70

#252

Post by jillesvangurp »

kypro wrote: post #202

Why do people owe me a nice retirement? I never really got the idea of state-funded retirement. Perhaps I should feel I'm owed something if I'm too fragile/disabled to work, but I don't know why age alone should grant me anything? Appreciate this is a controversial view so interested in hearing why I'm wrong so I can stop holding it. I think retirement should just be replaced by disability welfare to be honest.

The state pension in most countries is simply a collective pension fund that you pay for during your working life (or your employer does on your behalf). The state owes you retirement because you paid for it. It's not a handout that others are paying for you; you actually paid for it your entire working life.

So, Denmark raising the retirement age is kind of a big deal. I imagine the Danish might be less than thrilled about that.

Re: Denmark to raise retirement age to 70

#253

Post by crop_rotation »

martin-t wrote: post #238
dsign wrote: post #206

There is an obvious solution to the problem of ageing population and declining birth rates. Furthermore, it's a solution everybody's secret soul wants very much: keep people younger for longer. Invent rejuvenation. But politicians would never dare go in front of cameras and say that they will put a dollar into R&D for such an outcome, because the wall of insults and disdain we would hurl, for no rational reason, at t…

It might be the obvious solution but is it the right one? People are significantly more productive than say 50 years ago due to technological advancement. So where is all the money going? I am no economist but it is my understanding that all this extra money goes to the rich because they've entrenched themselves in positions where they can extract a portion of a person's income with no recourse. It's not normal that…

> People are significantly more productive than say 50 years ago due to technological advancement. So where is all the money going?

People have far better lives considering all the things available to them compared to 50 years ago. Most people would not want to live life like how people lived it 50 years ago.

> It's not normal that a single person can legally own tens of apartments and get a third or each tenant's salary without providing any value to society. It's not normal that companies can own residential properties, they have no use for them other than extracting money from people.

This is definitely a problem but I don't think the only one.

Re: Denmark to raise retirement age to 70

#256

Post by notfed »

testing22321 wrote: post #171

This comes about due to incompetent politicians running things. Australia is spending billions on nuclear subs it doesn’t need, and even paying France $300 million for not buying their subs. Australia doesn’t have enough money for that? No problem, just make everyone work longer. As an individual if I don’t earn enough to cover my spending I have two choices. 1. work more 2. Spend less In all these discussions we nev…

How did you get from Denmark to Australia?

Re: Denmark to raise retirement age to 70

#257

Post by nine_k »

mmooss wrote: post #227
telotortium wrote: post #115

Earlier quoted context omitted.

There's not enough immigrants that actually are of financial benefit to Denmark. Only European immigrants are a large financial benefit throughout their lifespan, and Middle Eastern immigrants are a financial detriment even in their prime working years[0]. That is apart from the cultural effects of having a large portion of your population consist of non-Danish, and especially non-European immigrants, which might hav…

It turns out that economic productivity is not tied to ethnicity or where you are from - fundamentally racist notions - but to how productive you are.

It's not about race, it's about culture and education. For instance, Chinese immigrants are usually an economic boost anywhere they go, due to the can-do attitude and respect for education and business activity in the Chinese culture in general.

Also the Chinese immigrants in question, like many others, usually immigrate seeking a better life, it's a strong self-selection filter. Middle Eastern immigrants of last 10-15 years in Europe are refugees, displaced by wars; they did not choose Denmark (or other Western European countries) because they planned to integrate and to prosper there, they ran there to merely stay alive. They need a lot of help adapting. Even if they are very willing to work, they may lack the knowledge required for gainful employment, and there are only so many dish-washing and trash-disposal jobs.

Those who adapt can make it big; consider people like Freddie Mercury or Nassim Taleb.

Re: Denmark to raise retirement age to 70

#259

Post by mmooss »

SpicyLemonZest wrote: post #248
mmooss wrote: post #225

Earlier quoted context omitted.

That omits the essential fact that economies tend to grow - quite a bit over your lifetime. 2% compounded annual growth over 50 years will result in the economy being 2.7x its starting size.

Economic growth in the abstract doesn't help much, because a retiree is only on the consumer side of the equation. 2% compounded annual growth over 50 years will result in the average worker consuming a lot more stuff, and they're not going to be happy if they have to throw that all out and embrace a 1970s-era standard of living when they retire.

> Economic growth in the abstract doesn't help much

True, but economic growth is very real.

Re: Denmark to raise retirement age to 70

#260

Post by Ray20 »

CubsFan1060 wrote: post #23
tossandthrow wrote: post #11

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

Wouldn't the fourth way be via increasing either birth rate or immigration?

No one knows how to increase the birth rate. And all the studies show that immigration increases the budget deficit, not reduces it (at least in that way in which it is being implemented now).
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