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Denmark moved to increase retirement age Up to 70 – The highest retirement age in Europe.
Can still be difficult for the United States Follow his leader.
The new change in Denmark will appeal to the State Pension Pensioners, which began in 2040. Since 2006, the country regulates retirement age to reflect changes in life.
The United States does not have an official official retirement age. At 65 years old, individuals are in line with Medicare coverage. 67 years old, a person is eligible depending on the date of birth Full Social Security Benefits Based on a saving record.
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However, the 70-year-old people stops to receive the greatest pay to claim the benefits of social security – 8% increase for each year Full retirement age. (When fully retired, beneficiaries are suitable for 100% of the benefits they have earned in business records.)
He is waiting to claim the benefits of the person until the age of 60. More than 90% of individuals will benefit from delay social security by this age, about 10%, a 2023 paper From the National Bureau of Economic Research.
The age of 70 is not an official US-based pension age, but also the praise of economists – Teresa Ghilarducci, a new school for social researches is the age you can not earn more at a new school.
“We have been a higher retirement age in the United States for decades and have been higher than any other country for years,” said Ghilarducci.
Pension age in the United States
There are still efforts to twist the US pension age at a higher level.
Congress in 1983 He passed through the legislation Gradually train full retirement age for social security From 65 to 67. This change is still in today’s stage, which is born in 1960 and then 67 retirement age.
In December one adjustment Senate Rand Paul, R-Ky, R-Ky to enlarge the full scholarship age by 70s.
Bill, Social Security Law of JusticeThe law was voted. However, the proposal was hit by lifting the retirement age.
Paul called on the scholarship age to raise three months a year, reflects the life of the current life until he reaches 70 years old. The change would create about $ 400 billion for the program, the law of social security added a $ 200 billion spending for more than 10 years.
Other Republic proposals Similarly, they called on the retirement age to grow.
Faced with Social Security Administration Tooming Cast dates For trust funds, this helps you to pay the benefits. To help resolve this issue, MPs may consider the lifting, benefits or combination of both of the taxes. Increasing retirement age was effective benefit.
As the changes applied in 1983, the growth of retirement age can be in the menu.
The action of Denmark is ‘send signals’ to work longer
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The action is not surprised by the Danish’s retirement age to raise the age of 70, and experts say.
In 2023 research As the Danish Social Science Research Center increases by the 80-70-year-olds, the higher health and education sources for 80-70 years of age can increase the higher demand for elderly workers in the future.
In 2025, the Denmark residents can retire with public pensions when they are 67 years old.
“Today, young people today will have to work longer before retiring today,” he said.
According to Rangvid, this pension age affects everyone’s right to the right of the main social pension income. However, those with private pension deposits may retire earlier.
“If the funds and funds to do, there is nothing that prevents you from retiring,” said Rangvid.
Denmark offers an early pension, including early retirement. However, the removal of the retirement age delivers a message, said Rangvid.
“That’s what these positions want to work longer,” said Rangvid.
The increase in retirement age in the United States may be problematic
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Pension experts say the United States will not be able to increase the pension age and ensure the same solution in Denmark.
Income, wealth, education and life expectations compared to the United States, Alicia Munnell, Boston College is a chief adviser in the center for pension research, he said.
In the United States, the bottom of government information and the highest profitable can be a difference between the lives of the highest profitable bodies.
“When you have such a big, big difference, any increase in any board in retirement would be foolish,” Munnell said. “It would be very harmful to those in the bottom that benefits for a shorter time.”
A policy to increase retirement age can be problematic for another reason – Andrew Biggs, according to the head of the American Enterprise Institute, will take time to the stage of change.
For example, the Congress can apply a higher retirement age, which began to take effect in 10 years, and then it will take 30 years to pass the system for people with higher pensions.
When moving the age of 67 to 69, “they will need money at this time,” Biggs said.
Pension age and economy
In 2006, the Welfare Reform, which began in Denmark, increased by the life of the retirement age, according to Rangvid, was “extremely important” for the country’s economy.
“Basically, there is no public debt,” said Rangvid.
In contrast, the United States faces high national debt demanding the country spend a lot of about interest payments than servicemen.
Can currently add budget legislation taken into account in Congress Estimated 3.3 trillion dollars To borrow as of interest in the responsible Federal Budget Committee.
This package will not touch social security or its retirement age. However, according to other proposals, Munnell, according to Munnell, the program brought a benefit to “a very strong goal” to help resolve the financial issues and brought a benefit.
A suggestion assemble The pressure of the Social Security Administration will eliminate 26% of the 75-year deficiency of the program to enlarge the full retirement age by 70.
