This is what happen when a society practices utopia for decades and it (shock) never materializes. They simply can’t upkeep the old folks, so keep them at work till they’re 75, then perhaps they won’t have to shell out public money needed for their upkeep… for long. Private investments in banks would have been the way to go, not the government’s welfare state, which sees, tax and spend, as the only way to grow an economy.
NOTE: And this does nothing to help the unemployment of the young either. Oh, and it will hit here in Finland as well, which pretty much photocopies everything that the Swedes do. Utopia wherever it’s tried, fails, miserably.
Swedish PM wants people to work until age 75
Swedish Prime Minister Fredrik Reinfeldt wants people to consider working until age 75 and employers to be open to hiring those over 55, he said in an interview Tuesday. The conservative, who heads a centre-right coalition, said Sweden’s generous welfare state and pension system would not be sustainable with an ageing population unless people worked longer.
In an interview with the Dagens Nyheter daily which sparked a strong reaction from labour unions, he said attitudes needed to change and employers needed to start viewing those over 50 differently. “To hire someone who is 55 who says ‘yes, I plan to work until I’m 75’ — that’s 20 years, that’s a very long and interesting employment relationship compared to a person who at that age plans to start winding down in five or six years,” the prime minister said.
Sweden has a flexible retirement age, where workers can begin drawing on their pension at 61 or keep working until 67. Of Swedes over 65 years old, 7.8 percent were employed in 2010, says Statistics Sweden.