The Danish parliament has approved a law that provides for a gradual increase in the retirement age: by 2040 it will be 70 years. About this informs The Local.
Currently, the retirement age in the country is set at 67 years. It will rise to 68 in 2030, 69 in 2035, and 70 in 2040. Thus, people born after 1970 will retire at 70.
“The gradual increase is the result of a long-standing 2006 social security agreement that linked the retirement age to increased life expectancy. The agreement stipulated that the retirement age should rise by one year every five years.” – the message says.
Last year, Danish Prime Minister Mette Frederiksen said her Social Democratic Party planned to review the automatic mechanism for raising the retirement age once it reaches the 70-year mark. She did not rule out the possibility of a further increase in the retirement age after this limit, but emphasized that the pace of change should differ from the current system.
In 2022, a government commission proposed a new model that loosens the dependence of the retirement age on expected life expectancy. This is to avoid an automatic increase in the retirement age in line with each increase in life expectancy.
