Denmark Sets Retirement Age at 70, Highest in Europe

Denmark's decision to raise its retirement age to 70 by 2040 marks a notable shift in public policy that aims to align retirement with increasing life expectancy, drawing mixed reactions from the workforce.

Denmark has recently made headlines as it moves to set the highest retirement age in Europe, with a new law passed by its parliament to elevate the age to 70 by the year 2040. This increase will apply to individuals born after December 31, 1970. The current retirement age is 67, scheduled to rise to 68 in 2030 and then to 69 in 2035.

The law passed on Thursday garnered 81 votes in favor and 21 against. However, Prime Minister Mette Frederiksen of the Social Democrats previously stated that the automatic increase linked to life expectancy would need to be reassessed, indicating a future negotiation on the matter. "We no longer believe that the retirement age should be increased automatically," she noted, emphasizing the importance of balancing work-life expectations.

The change has drawn criticism from various workers, particularly those in physically intensive jobs. Tommas Jensen, a 47-year-old roofer, articulated the concerns of blue-collar laborers, stating that the demands of their profession make it difficult to extend working years. “I've paid my taxes all my life. There should also be time to be with children and grandchildren,” he expressed in a conversation with DK.

In response to the retirement age hike, numerous protests, supported by trade unions, took place in Copenhagen, with union leaders decrying the change as "completely unfair." Jesper Ettrup Rasmussen, head of a Danish trade union confederation, criticized the insistence on a higher retirement age despite Denmark's strong economy, arguing it deprives citizens of a dignified senior lifestyle.

Comparatively, retirement ages across Europe differ significantly, with countries like Sweden allowing pension benefits to begin at age 63, while Italy has set the standard pension age at 67, subject to adjustments. The UK is gradually increasing its state pension age, while France raised it from 62 to 64 amidst significant social unrest. The trend of increasing retirement ages is being seen as a response to longer life spans and budgetary pressures, bringing attention to the broader implications for workers' rights and quality of life.

As the retirement landscape evolves, many wonder if younger generations will face new norms that redefine their expectations for retirement and work-life balance.