Denmark Sets Retirement Age at 70, Leading Europe

Denmark Sets Retirement Age at 70, Leading Europe

At 70 by 2040, Denmark has formally committed to the highest retirement age in Europe. In a major victory for cycling, the Danish parliament adopted a groundbreaking law, voting overwhelmingly 81 to 21 in favor. The ultimate outcome has demonstrated an unusual degree of political consensus on the matter. This measure further perpetuates Denmark’s practice of tying the official retirement age to increases in life expectancy. The practice, which started in 2006, is renewed every five years.

The minimum retirement age in Denmark is 67 years. Plans are already in progress to increase it to 68 in 2030 and 69 by 2035. This legislative move parallels the situation across Europe, where countries including France, Germany, and others are rethinking their retirement age policies. Italy’s normal pension age is currently 67, increasing again in 2026. At the same time, across the Channel, France has just raised its retirement age from 62 to 64.

The ruling has triggered a severe backlash and launched protests throughout Denmark. In Copenhagen, trade unions are taking the lead in raising hell. It’s not that many citizens oppose a fee increase, but they feel this one is excessive. This is particularly true for workers who cannot physically work more hours or due to caregiving obligations.

Tommas Jensen, a 47-year-old carpenter, laid out his objections to the hike.

“I’ve paid my taxes all my life. There should also be time to be with children and grandchildren,” – Tommas Jensen.

Jensen further added, “We’re working and working and working, but we can’t keep going.” His feelings are echoed by an increasing number of Danes who worry about keeping their work lives and personal lives in the balance as they grow older.

Jesper Ettrup Rasmussen, the leader of a Danish labor union confederation, called the plan “totally unfair.” He countered that raising the retirement age would cause people to forfeit their claim to a dignified life as a senior.

“A higher retirement age means that [people will] lose the right to a dignified senior life,” – Jesper Ettrup Rasmussen.

Danish Prime Minister Mette Frederiksen seemed taken aback by the return fire. She used this opportunity to announce that the government will not automatically increase the retirement age. This recognition of the mood of the American public suggests that policymakers may be approaching a fundamental change in how they pursue future policy reforms.

As a result, Denmark’s decision will now surely place it in the spotlight of retirement age discussions throughout Europe. Now, other nations can follow Denmark’s example as they work to overcome the same challenges in the years ahead. Europe’s demographic landscape is changing fast. To maximize the benefits, we need to strike the right balance between creating economic opportunity and maintaining quality of life for our growing aging population.

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