Retirement age in Denmark set to raise to 70

[MikeRafone]

https://www.bbc.com/news/articles/cvg71v533q6o

I hadn’t realised Denmark was presently in line with uk on retirement age and now raising it to 70

and that’s for people born 1970 onwards! I wonder if this will be used for uk to fallow suit?

Because you dishonestly omitted the fact that taking a pension early means that it is actuarially reduced so, on average, will cost the same as if it were taken at the standard age. And the standard age for civil service pensions which are currently getting paid into is State Pension Age, as I honestly pointed out and you dishonestly tried to hide.

Public sector pensions can be claimed before state pension so the gvt clearly doesn’t expect everyone to actually be at work til 67 / 70.
No longer the case, they are tied to state pension age.

you literally put that in the post - there was no history attached.

I said:

"Civil Service pensions that people are currently paying into are generally pegged to the State Pension Age now. Yes, people can take early retirement before that as early as 55 but the value of their "pension pot" (no, it's not actually a pot) remains unchanged - they get a lower amount for a longer period. "

Not in the post I answered - I checked the history before replying and nothing was copy and pasted in it or quoted.

I'm a boomer and retired at 67.

So you're going to admit that it was misleading to say that people can claim civil service pensions early without acknowledging that they are reduced so that they don't cost more, on average, than if claimed at standard age?

Wow!! Thank goodness I live somewhere where retirement age is 65. However, I did start my working life just after my 16th birthday.

Yes but taking it early with a reduction is not the same as saying public sector get their pensions early which is what the pp said.
It depends what section of what scheme you’re in, mainly the contributions you made decades ago might give you a pension at 60 (teaching) but more recent contributions are state retirement age (eg NHS).
im trying to understand how we are going to support ourselves if AI does lots of work for us. How do we pay for the robots if there are no jobs because they’re doing them?
Maybe I’m missing the point! Also young people are finding it so hard to get work in my area atm so I’m not sure how this squares with older people working till 70?

People "conveniently" forget that most of us started our working life earlier in those days, and few of us attended uni.

I think this is more to do with the fact your one line statement without context was wrong and you were picked up on it. So the person that called you out is then called dishonest and misleading

I'd like to know who will pick up the slack of providing cheap or free child care, care for older or other relatives, volunteering many active older people do.

How old are you? I’m a teacher and 65, at 55 I thought I’d continue to work full time for many years. However, the last 5 years have been difficult even though my health is relatively good. I’m really fortunate that I’ve been able to reduce my hours so now only work 2 days a week. But boy, those 2 days don’t half take it out of me! I really cannot imagine having to still work full time.
We never know until the time comes how long we will be able to continue working til.

At a cost - I took my pension early, with an associated reduction of 4% for each year of taking it early. So if I had taken it at 55, it would have been reduced by 20%

I haven't made a one line statement. I said:

"Civil Service pensions that people are currently paying into are generally pegged to the State Pension Age now. Yes, people can take early retirement before that as early as 55 but the value of their "pension pot" (no, it's not actually a pot) remains unchanged - they get a lower amount for a longer period. "

So you're going to admit that that's the case? Or are you still going to dishonestly avoid acknowledging it in your attempt to mislead people?

Eh?
If someone had a pension of £16k payable at 60, but took it early at 55, they would only receive £12.8K. Over 10 years, that would be a difference of £32k. Don’t forget, a workplace pension is something employees pay into - it’s not a free gift!

Not forgetting that those pensioners who were savvy enough to set up a workplace pension and now receive that plus their State pension will still be contributing via Income Tax. People think pensioners with private pensions are freeloaders - we’re not!

You have no idea what you are talking about. Some of us are in our 60s or 70s, we know how tough life was for many and how we didn't have the things many of the young think are necessities.

On what basis do you believe that to be the case? I see lots of public sector employees doing exactly that.

In the same way that private sector employees do.

I don't have evidence, just my own experience amongst my friends where cancer or heart disease amongst other things seems to have stopped most of us from continuing full-time work. I have found this study which suggests that the rising pension will inevitably raise the number of benefit claimants. https://obr.uk/box/the-effects-of-ageing-and-a-rising-state-pension-age-on-incapacity-benefits-caseloads/

Well done for managing 2 days at the chalk face at 65! I do wonder if more days somewhere else might actually be easier though (and you could have cheaper term time holidays!)

Firstly thank you for being a teacher.
I know that the age of retirement is going up but that doesn’t mean we have to work full time until that age. By the time they reach their early 60s a lot of people will have their mortgage paid off and they will not be supporting their children anymore. At this point in their life they can probably go down to part time.
I worked part time until I retired.
Unfortunately, some people will suffer from ill health and some will still be renting. This should be where the benefit system kicks in.

@jayritchie because claiming it early means it's reduced. Saying to someone concerned about increasing the state pension age when their public sector pension age is linked to it that they can just take it early is disingenuous.

Someone I work with was shocked when I told him that (despite his wife working in finance). Told him his work pension would be taxed at 20% after personal allowance and he just didn't know.

Too little too late.