Denmark to Establish Highest Retirement Age in Europe at 70 by 2040

Denmark's Parliament has passed legislation to increase the retirement age to 70 by 2040, making it the highest in Europe, drawing criticism from labor unions.

Denmark is set to become the European country with the highest retirement age, with a new law passed by Parliament raising it to 70 years by the year 2040. This significant increase in the retirement age will be applicable to all individuals born after December 31, 1970. Previously, the retirement age was linked to life expectancy, with adjustments made every five years. Currently, the age stands at 67, projected to rise to 68 by 2030 and to 69 by 2035.

The recent vote, held on Thursday, concluded with 81 in favor and 21 against the proposal. However, Social Democrat Prime Minister Mette Frederiksen indicated that the principle of a sliding scale for retirement age might be reconsidered in the future. She suggested that the automatic increase in retirement age might not be sustainable, stating, "We no longer believe that the retirement age should be increased automatically."

Tommas Jensen, a 47-year-old roofer, expressed his discontent with the change, labeling it "unreasonable" for blue-collar workers who engage in physically demanding jobs. He highlighted the disparity between those in labor-intensive professions and desk jobs, stressing the need for time with family and a break after years of hard work.

Protests against the retirement age increase have surfaced, gaining support from trade unions in Copenhagen over recent weeks. Jesper Ettrup Rasmussen, chairman of a prominent Danish trade union confederation, described the proposal as "completely unfair," arguing that, despite Denmark’s robust economy, the raised retirement age deprives individuals of a dignified senior life.

Across Europe, retirement ages vary significantly. In neighboring Sweden, individuals can begin claiming pension benefits as early as 63, while Italy's standard retirement age is set at 67, though it is subject to adjustments based on life expectancy. In the UK, there is a gradual increase to 66 for those born after certain dates, and France recently faced backlash over its shift from a retirement age of 62 to 64, which was introduced under contentious circumstances.