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Denmark Increases Retirement Age to 70, Europe’s Highest
- Denmark's parliament voted on May 22, 2024, to raise the state retirement age from 67 to 70 by 2040 for people born after 1970.
- The increase follows a 2006 welfare agreement linking retirement age to life expectancy, which set gradual rises including age 68 by 2030 and now 70 by 2040.
- Prime Minister Mette Frederiksen and a 2022 commission have called for renegotiating the automatic retirement age increase tied to life expectancy, citing sustainability concerns.
- The law passed with 81 votes for and 21 against, but the decision sparked widespread protests and criticism, especially regarding physical workers and early parliamentary pensions.
- By 2040, Denmark plans to raise its retirement age to 70, the highest in Europe, sparking discussions about equity, the capacity to work longer, and the long-term viability of the pension system amid shifting demographics.
146 Articles
146 Articles
Raising the retirement age will not help if older people are not hired.
Long Island beach shuts down to prevent high school skip day chaos
Denmark is increasing its retirement age to 70, a move that will require younger individuals to work longer. Some proposals have called for the U.S. to raise the age threshold for Social Security. Such an across-the-board change could be “immensely harmful” for some beneficiaries, one expert warns. Denmark has moved to increase its retirement age to 70 — making it the highest retirement age in Europe. Yet it may be difficult for the U.S. to foll…
The projections on the future of pensions give the warning: demographic winter is reducing the amount of future pensions, which may fall to 40% of the last order.
Denmark is expected to work longer: from 2040, Danes will not retire until the age of 70. Although the various pension schemes in Europe are poorly comparable, some fear a new trend.
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