International Denmark to set retirement age to 70

[Prutfis]

Longer life spans. Shifting demographics. Its shitty but necessary. Others will have to follow.
Denmark has 3.6% gdp growth. 2.9% unemployment and pretty large budget surplus.
Healthiest EU economy for like 5 years straight.
Seems we are doing something right.

They also get 5 weeks of paid time off per year. It's almost like you get to enjoy your life while you're young and able to do what you want. Insanity!

Fortunately i have a good job. 6 weeks paid vacation and get a 7th week when i turn 55. We also usually have around 9-12 holidays pr year. I have 35 hour work weeks. Wife has pretty much the same.
We still plan on retiring at 60-62. We both have pension plans with 10.5% from the company and minimum 2% from us + we invest and are good at saving.

 

[LeonardoBjj]

Why do I suspect politicians and senior civil servants will still be able to retire a lot earlier, with an index-linked pension?

"All animals are equal, but some are more equal than others".

- Politicians steal till theyre on their last breath!***

 

[llperez22]

What type of yearly income are you talking about to retire at 55?

if i retire at 55, my pension would pay me 52% of my final salary. That should be about 80k per year. Then I have money invested in retirement fund, I put 400$ a month into. That should be 3-4 hundred thousand by the the time I retire. My company provides me with medical for life, something they stopped doing in 2013 but Im grandfathered in so that will help. I have no kids so I dont have to worry about sending anyone to college. Ill probably start taking my social security soon as possible. Only major expense will be my home which Im on schedule to be making payments on until im 67 years old. My wife plans to work into her 60's so we will have an income still coming in for awhile.

 

[wlu.29]

Thank god my family has some valuable property and my parents are going to leave me everything instead of my degenerate sibling. Prob go work at a golf course at the age of 55-60.

I want to umpire baseball games for cash at 50

 

[The_Renaissance]

They also get 5 weeks of paid time off per year. It's almost like you get to enjoy your life while you're young and able to do what you want. Insanity!

5 weeks? 25 days? I'm in Wales and I get 34 days not including bank Holidays / national holidays. With those it's about 40. And I am a fairly low earner, I don't have a particularly well paid job.

Anyway I always prepped myself for dying before I retired. I expected it'd be 75 by the time I reached retirement age. Which is why I spend all my money on travelling while I'm still physically able to do so. I have no kids and will never have kids so the modest earnings I get are solely for me.

 

[idrankyourbeer]

They almost burned France to the ground when they made it 59

the danish are warmongers. aww hell they were even at war with canada for 50 years. the friendliest war also known as the whisky war. 2 nations fighting for ownership of a tiny uninhabited island in the middle of buttfuck nowhere, but half way between canada and greenland.

i believe that the only action that was seen in that war was when a small boat of troops from one of the countries would sail to the island to swap the raised flag of the other nation to their own. finally they just got sick and tired of having to keep sailing up there and swapping out each others flags so the two nations just mutually agreed to split the island 50/50.

canada remains undefeated at war but that right there was probably the most gruesome war that they've ever participated in. definately a war of attrition.

 

[Misfit23]

Long overdue for it to raise here in the US as well.

 

[The Servant]

They almost burned France to the ground when they made it 59

French are such entitled little bitches

I think they're gangster. North Americans dont have this level of testicular fortitude. They already do less hours per week and now less years per life time.

 

[TheMoa]

My father is 72 and he just can't let it go. He already "retired" 10 years ago and has his pension but he just doesnt stop working. For 6 years now the next year will be last year, but he always find a new excuse. Problem is.. he cant handle it anymore but he doesnt accept it. I can see his decline on simple stuff loud and clear.
Everybody in the family knows this, everybody on his work knows this too but he's too stubborn. Every year he has some sort of health crisis, goes to hospital thinking he's going to die, get some IVs and doesnt accept when the doctors tell him he's too tired and needs to take it easy.
Now, my father does that because he's too stubborn.. to think the whole workforce having to do that without a choice it's not good. Majority of people doesnt have the proper financial education to plan their savings and as you get older healthy expenses goes up with meds alone (even on an universal healthcre country). Plus the productivity in work tends to goes down.

I plan to retire early, but I think the retirement age here will be around that when my time comes up too.

 

[The Servant]

5 weeks? 25 days? I'm in Wales and I get 34 days not including bank Holidays / national holidays. With those it's about 40. And I am a fairly low earner, I don't have a particularly well paid job.

Anyway I always prepped myself for dying before I retired. I expected it'd be 75 by the time I reached retirement age. Which is why I spend all my money on travelling while I'm still physically able to do so. I have no kids and will never have kids so the modest earnings I get are solely for me.

Whenever I have heard UK people talking about "decent salaries" they're always below the poverty line. I'm shocked at how broke the People in the EU live (I know they're not in the EU but they're as broke as the EU plebs).

Entry level jobs here pay as much as your professionals. Truly sad to work til 70 and for your country to be so poor you can't really save for retirement or decide what to do with your money. It seems they short your salaries and say we will take care of it.. but they dont seem to be doing a good job if they're making you work til 70.

 

[A Very Serious Cat]

They almost burned France to the ground when they made it 59

French are such entitled little bitches

That's one way to put the French public sticking up for themselves...

 

[Kassitus]

Awful way to look at life. Not as a human being but as a cog in the workforce camouflaged as a nation. No real values that might come in contradiction to the overarching mandate of the shareholder.

Our 20th century mindset hasn't yet caught up to the medical advances of the 21st century. It's now entirely expected that people born now will live to 90+. The model of working for 40% of your life and being subsidized by someone else for the other 60% just isn't a logical model. The inevitable solution is that most people will retire at 75.

 

[Fox by the Sea]

Our 20th century mindset hasn't yet caught up to the medical advances of the 21st century. It's now entirely expected that people born now will live to 90+. The model of working for 40% of your life and being subsidized by someone else for the other 60% just isn't a logical model. The inevitable solution is that most people will retire at 75.

there's hardly any jobs for young people.
what are old farts in their 70s going to do? that's another form of subsidy from the companies.

 

[Ezekiel 25:17]

Go to saudi arabia. Retire at 47. Lol

 

[Ezekiel 25:17]

there's hardly any jobs for young people.
what are old farts in their 70s going to do? that's another form of subsidy from the companies.

Old farts like my pops have actual hardcore skills that youngsters now struggle with. Hes in the trades. My dad at 75 knows more and can still earn more based off experience. Those boomers are certainly not lazy and have crazy work ethic with pools of knowledge. Youngsters just cant compete with their lazy ways.

Even if he hires a grunt to do the heavy lifting stuff, he still earns more.

 

[Fox by the Sea]

Old farts like my pops have actual hardcore skills that youngsters now struggle with. Hes in the trades. My dad at 75 knows more and can still earn more based off experience. Those boomers are certainly not lazy and have crazy work ethic with pools of knowledge. Youngsters just cant compete with their lazy ways.

ok. so what are the youngsters supposed to do? just accept that society leaves them behind, and just cope with having a shitty life?
cause the child ignored by the village will burn it down for warmth.

 

[Ezekiel 25:17]

ok. so what are the youngsters supposed to do? just accept that society leaves them behind, and just cope with having a shitty life?
cause the child ignored by the village will burn it down for warmth.

Learn skills, work hard, work smart, have more then one form of income. Parents need to also make sure they are doing everything in their power to insure their kids are not useless and lazy bums who just wanna try to earn 7 figures on social media right away.

Kids have this pre-ordained notion that working sucks nowadays and are always looking for an easy way out. Work ethic stinks. That all boils down to lazy, easy going parenting tbh.

 

[Fox by the Sea]

Learn skills, work hard, work smart, have more then one form of income. Parents need to also make sure they are doing everything in their power to make sure their kids are not useless and lazy bums who just wanna try to earn 7 figures on social media right away.

Kids have this pre-meditated idea that working sucks nowadays and are always looking for an easy way out. Work ethic stinks. That all boils down to lazy, easy going parenting tbh.

i'm not necessarily disagreeing, but i believe today's society is clueless as how to deal with the younger generation. Parents included. first you raise the kid by putting an ipad in front of his eyes for the first 7 years of his life cause you're too busy, then you wonder why the kid can't understand the world unless it's in 10 second soundbites.

 

[Hellowhosthat]

Whenever I have heard UK people talking about "decent salaries" they're always below the poverty line. I'm shocked at how broke the People in the EU live (I know they're not in the EU but they're as broke as the EU plebs).

Entry level jobs here pay as much as your professionals. Truly sad to work til 70 and for your country to be so poor you can't really save for retirement or decide what to do with your money. It seems they short your salaries and say we will take care of it.. but they dont seem to be doing a good job if they're making you work til 70.

It's all relative. Cost of living isn't that high. My mortgage is £450 a month for a decent sized three bed house with front and back garden and a garage down a quiet street. I can't imagine I'd be getting anything like it for that price in the US or Australia.

 

[irish_thug]

And do what exactly?

Hunt, fish, motorcycle rides. Pretty much all I need, thankfully the wife is on board.