Neighboring country increases retirement age from 2040

With 70

This neighboring country introduces the highest retirement age in Europe

Due to a mechanism introduced before 2006, Denmark screwed up his retirement age. There is resistance to the measure.

Denmark continues to adapt the retirement age to the increased life expectations – and passed a law in his parliament on Thursday after the retirement age is to be raised to 70 years by 2040. The entry age is currently 67 years.

A special peculiarity of the Danish pension system is responsible for this decision. Since 2006 the retirement age in the neighboring German country has been linked directly to the rising life expectancy – the retirement age should be raised to 68 years by 2030 and to 69 years by 2035.

At the same time, in Denmark, they are becoming more and more true that these adjustments to the pension are not forever continued: Last year, Prime Minister Mette Frederiksen had already announced that the regulation, when the retirement age is reached, had to be questioned again. Frederiksen said: “We are of the opinion that you cannot simply say forever that people have to work longer for a year, and therefore our clear demand is that the agreement must be renegotiated.”

The system is also controversial among the population. In the state capital of Copenhagen, as the “Berliner Zeitung” writes, unions against the measure in the past few weeks. Her argument: In view of the stable economic situation of the country, the measure is unfair.

The retirement age from 70 affects all the Danes born in 1971. With the new entry age, Denmark has the highest retirement age in all of Europe according to the current status. In Germany, the entrance age will be increased to 67 by 2031, but in France and Italy it is only 64 years. According to Eurostat, the European average is 61.3 years.