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Denmark has officially raised its retirement age to 70 — and other countries may make similar moves.
The Danish Parliament passed legislation on Thursday that will gradually raise the retirement age to 70 by 2040.
The change applies to anyone born after December 31, 1970.
The bill, which passed with 81 votes in favor and 21 against, marks one of the most significant changes to the state pension age in Europe. It also signals a broader shift in how developed economies are preparing for aging populations and mounting fiscal pressures.
The move stems from a 2006 welfare agreement that ties the pension age eligibility to life expectancy. With people living longer, the government argues that raising the retirement age was needed to keep the pension system financially sustainable.
“In 2040, we will raise the retirement age from 69 to 70 years, among other things, to afford proper welfare for future generations,” Ane Halsboe-Jørgensen, Denmark’s employment minister, said in a statement following the vote.
She said it would be the last time her party voted for an increase under the current system, citing the need for a fairer model that reflected differences in career length and job type.
The decision has sparked anger from unions and workers in physically demanding sectors such as construction and agriculture.
Denmark’s largest trade union, 3F, has argued that the policy will disproportionately burden lower-income workers. It said surveys had found three-quarters of their members doubted they could keep working into their 70s.
Pension changes have become a flash point across Europe. Just two years ago, France was rocked by months of mass protests and strikes after President Emmanuel Macron’s government raised the retirement age from 62 to 64.
Nonetheless, as demographic pressure mounts globally, Denmark’s move may be a bellwether.
Countries including Germany, the Netherlands, and the UK have already scheduled retirement age increases to 67 by 2031, 2028, and 2028, respectively.
With life expectancy continuing to rise, birth rates falling, and the need for a sustainable ratio of workers to retirees, economists and researchers say retirement ages will probably need to be pushed back further.
A 2024 report from the UK’s International Longevity Centre projected that Britain would have to raise the retirement age to 71 by 2050 to maintain the ratio of workers to retirees.
Similarly, in the US, the retirement age for full Social Security benefits has already been raised from 65 to 67.
While Republicans have proposed a further increase, President Donald Trump said on the campaign trail in June 2024 that he would “not raise the retirement age by one day.”
The post This country just raised the retirement age to 70 — and others may follow appeared first on Business Insider.
