Denmark to raise retirement age to 70 • Hacker News Board

Re: Denmark to raise retirement age to 70

#281

Post by adamors » Sun, May 25, 2025, 8:10 PM UTC

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.

At least in Europe, you pay a percentage of your wage into the state’s pension fund. Details vary by country, but it’s not uncommon that you contribute automatically 10% of your gross salary. For your entire working life.

The state then being kind enough to give you something back after 35-40 years of contributions is expected.

Re: Denmark to raise retirement age to 70

#282

Post by bjoli » Sun, May 25, 2025, 8:10 PM UTC

mrcwinn wrote: post #22

deanc wrote: post #4

I’m not sure how I feel about this. I’m based in the Nordics and my estimated retirement age at the moment (where I can get my state pension) is 67y 4m. Whilst I understand the burden the aging population is having on society (lifespan) it doesn’t seem like there’s much proactive government input into people’s healthspan. Maybe instead we should try investing in this area (reducing the burden on services) instead of…

As an American, I’m often that countries like Denmark are in fact constantly investing in health and entitlements, and so everyone is healthier and happier. Is that not the case?

We have the same problem as every other western country. Sweden has lowered the taxes by about 500 billion SEK (corrected for inflation and population growth) since I was born close to 40 years ago. That is about a third of the annual budget.

How these tax cuts are distributed over the population is... not very evenly. There was even an article yesterday in the NYT (iirc) that warned about wealth accumulation patterns in Sweden.

It is the same neoiberal experiment that the US has had since Reagan, just with some more social democracy.

Re: Denmark to raise retirement age to 70

#283

Post by username223 » Sun, May 25, 2025, 8:11 PM UTC

Screw that. No matter how healthy you are, you're significantly limited both physically and mentally at 70. "Enjoy your last 11.7 doddering years!"

It's not so hard to save some money, do whatever you want in your 30s, then work until you're dead.

Re: Denmark to raise retirement age to 70

#284

Post by antidumbass » Sun, May 25, 2025, 8:11 PM UTC

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…

[dead]

Re: Denmark to raise retirement age to 70

#285

Post by firesteelrain » Sun, May 25, 2025, 8:12 PM UTC

This is a global trend in order to keep pension and retirement systems fiscally stable. Same reason you will probably see the Social Security System raise their age too.

Re: Denmark to raise retirement age to 70

#286

Post by AdrianB1 » Sun, May 25, 2025, 8:12 PM UTC

amanaplanacanal wrote: post #72

pfdietz wrote: post #55

Earlier quoted context omitted.

The total fertility rate (number of children per woman) seems stubborn against attempts to raise it. I suggest instead altering the male/female ratio, so a stable or growing population can be maintained at lower TFR. Technically, filter sperm to remove those with Y chromosomes before artificial insemination.

As Jan and Dean put it in Surf City: "two girls for every boy".

Without a major and unrealistic cultural change, 2 girls to share one boy (polygamy) is not going to happen.

Re: Denmark to raise retirement age to 70

#287

Post by tmnvix » Sun, May 25, 2025, 8:12 PM UTC

aaomidi wrote: post #144

lancekey wrote: post #77

Earlier quoted context omitted.

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?

Take on and service more debt (e.g. larger mortgages). The productivity gains are claimed by creditors (i.e. those with existing capital). At least, that's a possible explanation.

Re: Denmark to raise retirement age to 70

#288

Post by manmal » Sun, May 25, 2025, 8:12 PM UTC

Where I live, people have issues getting hired past age 50, and it’s near impossible past age 60. It’s a stroke of luck if you score a job then. So yes they can raise retirement age, but that will just create misery for all those who can’t cling to a job long enough. There‘s got to be a better way.

Re: Denmark to raise retirement age to 70

#289

Post by layer8 » Sun, May 25, 2025, 8:12 PM UTC

zemvpferreira wrote: post #131

deanc wrote: post #60

Earlier quoted context omitted.

Sure. But is that the society we want to live in. Do we not have ambitions to have people work less, enjoy what little life they have more? I'm not saying this is an economically easy problem to solve, but we focus so much on economics and so little on policies that make people happy.

No one is preventing you from saving more now and retiring earlier. Why must it be the government’s job?

Most people prefer it to be the government’s job, and that’s how they vote.

Re: Denmark to raise retirement age to 70

#290

Post by tgv » Sun, May 25, 2025, 8:13 PM UTC

WinstonSmith84 wrote: post #81

namdnay wrote: post #19

Earlier quoted context omitted.

The boomers definitely weren’t the first getting in, the original pensions were paid to their own parents It’s not really a Ponzi scheme, it is completely possible for the system to be balanced, it’s just very very hard to get people to vote for you if you say they’ll have less tomorrow

maybe you don't like it to be called a Ponzi scheme, but the reality is that it is one. Definition of a Ponzi scheme: A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investor. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money. Instead, they use i…

It's not a fraud. How can you say so? Also, the first pensioners didn't invest in the system. There isn't even a concept of investment in old-age social welfare, unlike other pensions. It's also not a pyramid scheme, since the structure is upside down, and there is no recruitment.

Calling it something else than it is, only to taint the system and its receivers by associating it with a criminal undertaking is bad faith, if not worse.