Denmark became the first country in Europe with a retirement age of 70 years
The relevant decision was approved by the country's parliament. This was reported in The Copenhagen Post.
Since 2006, Denmark has linked the retirement age to the forecasted average life expectancy. Now, the pension age in the Scandinavian country is reviewed every five years. Until now, retirees in Denmark have been able to retire at 67 years old.
According to the new law, the increase in the pension age in Denmark will be phased: to 68 years old – from 2030, to 69 years old – from 2035, and to 70 years old – from 2040. Therefore, the first to retire at 70 will be people born in 1971.
The lawmakers note that the increase in the pension age is due to the changing demographic situation. Life expectancy is steadily rising, along with the number of pensioners.
However, representatives of trade unions in Denmark expressed doubts that all citizens will be able to work effectively until the age of 70.
