Denmark’s Retirement Age Set to Rise to 70

Denmark is on track to establish the highest retirement age in Europe, following a recent decision by Parliament to raise the age to 70 by the year 2040.

The country has been adjusting its official retirement age since 2006, linking it to life expectancy and reviewing it every five years. Currently, the retirement age stands at 67, but is scheduled to increase to 68 in 2030 and then to 69 by 2035.

This new retirement age will affect everyone born after December 31, 1970. The law was passed with a vote of 81 in favor and 21 against.

However, last year, the Social Democrat Prime Minister Mette Frederiksen indicated that the principles behind the scaling of the retirement age would be renegotiated eventually. She expressed her belief that it isn’t ideal to keep automatically raising the retirement age, emphasizing that many people shouldn’t have to work beyond a certain point.

Tommas Jensen, a 47-year-old roofer, voiced concerns about the changes, describing them as “irrational.” He pointed out the challenges for blue-collar workers, stating, “We work, we work, we work, but we can’t continue.” Jensen asserted that after paying taxes throughout his life, he desires quality time with his children and grandchildren.

In recent weeks, Copenhagen has seen protests backed by labor unions objecting to the rising retirement age. Before the vote, Jesper Ettrup Rasmussen, President of Denmark’s Federation of Trade Unions, labeled the proposal “completely unfair,” noting that while Denmark enjoys a robust economy, it will lead to the highest retirement age in the EU. He warned that an older retirement age could strip people of the right to a dignified life in their later years.

Retirement ages in Europe vary widely. Many countries have raised their retirement ages recently to manage fiscal challenges and address rising life expectancy. In Sweden, individuals can start receiving pension benefits as early as 63. Italy’s standard retirement age is currently 67, similar to Denmark, and is subject to adjustments based on life expectancy predictions, with potential increases in 2026.

For those born in the UK between October 6, 1954, and April 5, 1960, pensions begin at age 66, with gradual increases for those born after that period. France, on the other hand, recently passed a law raising the retirement age from 62 to 64, which sparked significant protests and required President Emmanuel Macron to push through Congress without a vote.