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?
The metric of “living longer” isn’t the same as “life expectancy once you reach the age of 65”, for example. In the US, when someone cites a statistic that our average life span decreased, it’s due to the effects of early-life mortality on the mean. If you make it past 65, it’s a different statistic.
True but no matter how healthy one is in their 60s and 70s people's health degrade significantly in their 80s. So, you have then 10 year of healthy life after retirement.
There's the flip side if the coin though: old people are healthier in Denmark (vs US for example [1]) due to the social welfare system. Well, that system needs to be funded. With the aging population, the costs are rising but contributions are (relatively) declining. That's why there's a push for higher retirement age. It's either this, or defunding the social welfare programs, or immigration. That last one isn't a viable political option in Denmark at the moment.
I think what's happening though is that current generations are taking it easier in a lot of ways as a result of having to work more. For example, avoiding senior promotions into management etc.
Personally, I'm not sure that they are living in better health in the way that I care about. I.e. my goal is to retire when I'm still healthy enough to do things (i.e. travel). Although they are likely healthier than previous generations, most of the 70 years olds I see still aren't healthy enough to travel.
I had a great grandparent live to 102. 3 of my 4 grandparents lived into their late 80s with the oldest passing a month shy of 90. Even my grandparent who smoked 2 packs of cigarettes a day lived to 78. For all of them, their last good year was about year 80.
My dad just turned 78 and has really slowed the last 5 years. Longer life says little about quality of life.
The policy for retirement age is related to when society sees fit to sustain someone that does not work. I think it has more to do with how the society sees the elders and what it can afford than to the goals of specific individuals.
why wait for travel until you are retired? Retirement should not be "the" goal in life.
I've been traveling for holidays every year since I was 25 for at least 3 weeks every year, loving it so much. First it was backpacking, now it transitioned into a bit more luxury as I got older.
You don't know if you'll be hit by a bus next year, retirement is a silly milestone to focus on.
I didnt have time to write a whole treatise. Yes women’s was brought in line with men’s. I should have said, men’s retirement age has not gone up but said retirement age bc it’s an HN comment, not a published paper.
The raise to 68 will happen, but it has not happened yet. So, I think to frame my comment as “simply untrue” is disingenuous at best.
There was a steady rise in life expectancy at retirement age in the UK until 2020, then something happened and it's fallen significantly. My guess is that it will rise rapidly over the next 15 years and this will be regarded as some sort of triumph for the public health system (unless there is another pandemic of course).
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.
Setting aside the issues of declining birth rate for a minute, this seems like a reasonable adjustment to the other factors?