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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

#411

Post by pembrook »

jampekka wrote: post #355
gandalfian wrote: post #272

Denmark, 6 million wealthy people, 4% economic growth, 1.5% inflation, 2.9% unemployment, national debt of 25% of GDP and budget in surplus. How did it all go so right?

> How did it all go so right? The highest total tax rate in the world perhaps?

The USSR and Yugoslavia and Albania and Cuba and North Korea and Vietnam and China pre-2000s have all had far higher tax rates than Denmark during their worst times, so probably not a great correlation.

Denmark is like all the other Nordic countries culturally, except they have much easier direct geographic lines to Central Europe. So it’s basically what you get when you combine the Nordic model (tiny homogenous Lutheran population) with more advantageous geography. Finland is Denmark with extremely unfortunate geography.

Re: Denmark to raise retirement age to 70

#412

Post by FirmwareBurner »

karaterobot wrote: post #385
FirmwareBurner wrote: post #381

Earlier quoted context omitted.

This might not be the case for your hiring principles, but this doesn't reflect the reality and statistics in my European country. People after 50 have a near zero chance of getting hired here as confirmed by the unemployment office.

I didn't see them say it's not harder getting hired over age 50, I think they're questioning that the reason is really job hopping.

Employers will never say what the real reason is because they don't want to get sued for age discrimination.

Re: Denmark to raise retirement age to 70

#413

Post by pydry »

MattPalmer1086 wrote: post #339
joelthelion wrote: post #313

Earlier quoted context omitted.

And yet they all have to work like idiots until they're 70, whether they like it or not. I feel they could do better than that with all this wealth.

People are living longer. Demographically there are fewer younger people to support them. Something has to give.

Funny how AI will take your job when you're 35 but when you reach the age of 65 it loses the ability to do so.

Re: Denmark to raise retirement age to 70

#414

Post by wyager »

amag wrote: post #409

This is truly sad. As a Swede I fear my country may follow suite. The retirement age in Sweden used to be 65 and now it's 67. Looking at older people around me, most lead a much less active life after 75. So, if we were lucky we used to have some 10 good years of doing whatever we wanted before old age and age-related diseases start affecting us so much we become limited to a much smaller world. But now we have maybe…

> I think if you've put in 40-45 years for the man, you should be allowed to have some good 10 years for yourself.

Who do you think would "allow" this? God? This is a resource constraint imposed by reality itself catching up to an excessively idealistic set of policies; this policy decision is downstream of that, not arbitrary.

Re: Denmark to raise retirement age to 70

#415

Post by timbit42 »

glorygut123 wrote: post #335
gandalfian wrote: post #272

Denmark, 6 million wealthy people, 4% economic growth, 1.5% inflation, 2.9% unemployment, national debt of 25% of GDP and budget in surplus. How did it all go so right?

If they're raising the retirement age, then it obviously didn't all go so right,

It's because people are living longer and their government retirement plan savings aren't enough to support living that long. Increasing the retirement age means you spend another five years paying into your retirement fund and have five fewer years to spend it. If you have additional retirement savings of your own, you can still retire earlier.

Re: Denmark to raise retirement age to 70

#416

Post by const_cast »

MattPalmer1086 wrote: post #339
joelthelion wrote: post #313

Earlier quoted context omitted.

And yet they all have to work like idiots until they're 70, whether they like it or not. I feel they could do better than that with all this wealth.

People are living longer. Demographically there are fewer younger people to support them. Something has to give.

Bring in more young people via economic opportunity and immigration.

Making kids easier to have really only has two real options:

1. Go back down the development timeline of a nation and remove rights from women (bad).

2. Implement more social programs to incentivize children.

The reason we need to do 2 now and not in the past is we've developed. Women have rights now, and we need real reasons for them to have kids, not fake reasons like we had in the past.

Re: Denmark to raise retirement age to 70

#417

Post by nradov »

joelthelion wrote: post #379
stevesimmons wrote: post #370

Earlier quoted context omitted.

They don't all have to work to age 70. Anyone can stop working earlier, and fund their own retirement.

That's true. But I'd argue that everyone is better off when most people can chose to retire early, rather than the select few who are smart and disciplined enough to plan an early retirement.

Everyone is better off except the workers who have to pay higher taxes to support more retirees. That might still be a net positive for society but people are going to have a wide range of opinions on where to draw the line.

Re: Denmark to raise retirement age to 70

#418

Post by Avicebron »

jopsen wrote: post #368
joelthelion wrote: post #342

Earlier quoted context omitted.

On the other hand, productivity has improved tremendously. It's not clear that we actually need everyone working.

You absolutely don't need to work 37 hours per week if you are willing to live 200km from the big cities in an old house. You buy something dirt cheap for less than 80k USD. It's not great, it's old run down. But if you do minimal repairs and don't live the high life, you can get by with very little. But if you want a new car and nice comfy house in a decent location, with all the modern amenities, well, that's expen…

>something dirt cheap for less than 80k USD

brother rusted out farm houses 2 hours from any office building, let alone one that hires programmers are like 350k in rural states. Idk where you live, but it ain't Earth.

Re: Denmark to raise retirement age to 70

#419

Post by keybored »

robaato wrote: post #186
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

No 4 - do like Norway: https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...

Norway is also going to raise the retirement age.

Re: Denmark to raise retirement age to 70

#420

Post by eloisant »

JelteF wrote: post #390
8fingerlouie wrote: post #382

Earlier quoted context omitted.

In Denmark, you also have to have a medical exam to maintain your drivers license after you turn 70, but they have no problem with carpenters running around on roofs until they're 74.

There's a huge difference between endangering other people vs endangering only yourself.

The carpenter isn't endangering himself, he's being endangered by his employer (and the politicians who voted for that retirement age)
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