At the beginning of his speech, CEPOS President attacked the popular myth of Denmark being rich thanks to the welfare state. As he demonstrated on number of charts, Denmark was first rich, and only then could afford the welfare state.
The proponents of the limited access to savings caught savers into a trap. Take it or leave it. Fortunately, also thanks to INESS, which also commented on the law in Parliament, there is a sort of exit option for savers, who don’t like the offered annuities but need some money from their savings. They can keep their savings account and withdraw at least annual yield.
A major pension reform was approved in a fast track procedure. The expense of this fast track procedure was not only the violation of legislative rules by the new parliament and government, but also lack of understanding of the long-term impact of this reform.