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.
You don’t need higher birth rates if the productivity rises and the created wealth is fairly distributed.
Denmark to raise retirement age to 70
301–310 of 1001 posts
Re: Denmark to raise retirement age to 70
#302There 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…
The obvious solution that also worked in the past is rising productivity and participation on the created wealth.
Re: Denmark to raise retirement age to 70
#303Earlier quoted context omitted.
It’s the other way around: a few decades ago people retired only a few years earlier, had 5-10 years of retirement and then died. Now people live way longer, but the retirement age never got adjusted properly to the new reality. So 15-20 years of retirement is the new normal. In addition, way fewer young payers for the now old.
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.
> Do we not have ambitions to have people work less, enjoy what little life they have more
Spend less, save more. Vote for governments that do likewise.
Re: Denmark to raise retirement age to 70
#304Earlier 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
How many children were born in Muslim families in 2024 and how many children were born in Christian families in UK?
Re: Denmark to raise retirement age to 70
#305Earlier 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.
Its not "so close" - the pensions that I'm familiar with are exactly what I described. They're basically a special tax treatment for my assets.
Re: Denmark to raise retirement age to 70
#306Re: Denmark to raise retirement age to 70
#307What's stopping people from just saving up money and stop working before 70?
Re: Denmark to raise retirement age to 70
#308Denmark, 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?
Sensible immigration policies
What are some examples of sensible immigration policies?
How does the US compare / contrast?
Re: Denmark to raise retirement age to 70
#309Denmark, 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?
Sensible immigration policies
Denmark’s immigration policies are not nearly as tough as their reputation nor to credit them as the source of economic prosperity.
Denmark’s economic prosperity comes from investment in free higher education for all, generally healthy lifestyles and the flexicurity-model, which provides a flexible labour market and promotes risk-taking.
Re: Denmark to raise retirement age to 70
#310Earlier quoted context omitted.
The math for pensions is fine as long as the maxes payout isn’t excessive and you don’t start too early. There’s a huge cost difference between a 30k/year pension at 70 and a 45k per year pension at 60. People also focus on a fixed percentage being returned while ignoring the long term increase in productivity and people’s standards of living. In real terms people in 2025 get way more out of pension systems than peop…
I will pay more than €600000 for this “retirement insurance” over my entire career. So with 30k/year pension and living under the bridge at 70 I must have superior health to break even at 90 and benefit from the “insurance” afterwards. Ok, it’s not that bad, there is some disability insurance included. Better than nothing.
The value you get is as an inflation and lifespan hedge. There’s no investment built into the system but the money being paid in by younger workers for people who are 100 is adjusted for inflation that year not whatever the currency was worth 75 years ago when they started. Similarly if you die at 55 you don’t benefit from retirement savings either.
Historically payouts also benefited from rising productivity and populations but those assumptions are breaking down.