The Danish pension system has four parts and is, I think, much harder to figure out than the Australian one.
There is a public basic scheme. A means-tested supplementary pension benefit paid to the most financially disadvantaged. There is also a scheme based on individuals’ contribution records called the ATP. And also ... a compulsory occupational scheme negotiated as part of collective agreements.
When people take time off to have children contributions continue and are payable on the maternity / paternity leave.
Women do suffer greater instances of lower income in retirement but according to the researchers at SFI this is linked to the wage gap - sitting at 17% on average. In the case of low paid workers the pension calculations give them around 100% replacement value of their earnings pre-retirement.
It is apparently VERY unusual for women to take more than 12 months out of the workforce when having a child and most will come back to work full-time.
I can feel this in the city streets, there are as many Dads with kids and school bags on bikes as Mums. The SFI researchers were shocked at our labour force participation figures.
Over the next few days I meet with the Trade Union organisations and some journalists. Loving it so far!
M
Well done, you read through the ramblings on pensions. Your reward - photos ...
What's the story here? I had a sausage and then tried to find Princess Mary. She wasn't home at any of the castles. I thought I saw the curtains flicker at one of them but I yelled "Aussie Aussie Aussie" and didn't get a response. I'll give her a call today - maybe she was out looking for me?!
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