The first European country has raised retirement age to 70
The longer we live, the more we work.
By 2025, life expectancy in Europe will reach 81.5 years, according to Eurostat data. Spain has the highest life expectancy, at 84 years, compared to 75.8 years for Bulgaria, the country with the lowest.
The Danish case
Given our increasingly long lives, Denmark has taken the daring step of hiking its retirement age; life expectancy here in 2025 will reach 82 years, one of the highest in Europe.
Photo: Unsplash - Ignat Kushanrev
Working into our twilight years
In light of the increasing cost of this older demographic, the Danish Parliament has approved a rise in the retirement age to 70 by 2040.
Photo: Unsplash - Beth MacDonald
Overwhelming majority
The measure was supported by a large majority, with 81 votes in favor and just 21 against. The hike, which applies to citizens born after 1970, is needed in order to be able to “afford proper welfare for future generations,” employment minister Ane Halsboe-Jørgensen said in a press release late May.
Photo: Unsplash - Mark Timberlake
A sliding scale
While the 70 landmark will not be reached until 2040, retirement age will be nudged up to 68 in 2030 and 69 in 2035.
Five yearly reviews
In fact, the measure dates back to 2006, when the retirement age was linked to life expectancy, with the figures being reviewed every five years. But for the time being the retirement age will remain at 67.
Photo: Unsplash - Marc Nájera
A tricky job at 70
Not everyone is happy about the future changes. Tommas Jensen, a 47-year-old roofer, told Danish media that they were "unreasonable", adding, "We're working and working and working, but we can't keep going," the BBC reports
Protests staged in Copenhagen
Others unhappy with the Danish government's pioneering policy have been taking to the streets of Copenhagen to protest over the last few weeks.
Retirement age around Europe
Retirement age varies from country to country within Europe. In France, it is currently 64, in Germany 65 and in Spain 66. Many countries, like Denmark, have 67 as their retirement age, such Italy, Greece, Iceland and the Netherlands.
