It’s a double whammy: lower salaries and higher taxes.
The whole society is really structured for people to keep working until 65 or so. E.g. taxes are really progressive, so saving in a high income year and living off that money in another year (with no taxable income) is super expensive. There are tax exceptions for retirement savings but you can’t access that money until 60 or so. Also, the state pays your base pension, but you can’t access that money until 63 or something.
The whole society is really structured for people to keep working until 65 or so. E.g. taxes are really progressive, so saving in a high income year and living off that money in another year (with no taxable income) is super expensive. There are tax exceptions for retirement savings but you can’t access that money until 60 or so. Also, the state pays your base pension, but you can’t access that money until 63 or something.