The Danish Parliament has approved a gradual increase in the retirement age, which will reach 70 by 2040. This decision is part of a long-term policy introduced in 2006, under which the retirement age is reviewed every five years in line with changes in the average life expectancy, reports the Baltimore Chronicle, citing The Copenhagen Post.
According to the new legislation, the retirement age will rise as follows:
- to 68 in 2030 for those born in 1963;
- to 69 in 2035 for those born in 1967;
- to 70 in 2040 for those born in 1971.
The reform is aimed at maintaining the financial sustainability of the pension system amid increasing life expectancy, which currently averages 81.7 years in Denmark.
However, the initiative has sparked concern among trade unions and manual labor workers, who doubt the feasibility of working effectively until the age of 70. Prime Minister Mette Frederiksen acknowledged these concerns and emphasized the need for careful assessment before any further increases in the retirement age.
Public discontent has also been voiced over the fact that some members of parliament elected before 2007 are still eligible to receive pensions from the age of 60, despite the general increase in the statutory retirement age. This has prompted broader debates about social justice and equality within the pension system.
Earlier we wrote that the defense ministers of Ukraine and Denmark discussed new investments in the Ukrainian defense industry.