Danish parliament raises retirement age to 70 by 2040
The Danish parliament has decided to raise the retirement age from 67 to 70, set to be implemented by 2040. Prime Minister Mette Frederiksen assured the public that there would be no further increases, despite projections of rising life expectancy.
The new regulations apply to Danes born after December 31, 1970. People approaching retirement age will also be affected by these changes. In 2030, the retirement age in Denmark will increase to 68, and by 2035, it will be 69.
Denmark's parliament supports raising the retirement age
The decision was backed by the majority of the Folketing (Danish parliament) members, although some opposition was voiced during the two-hour debate. These changes stem from a 2006 agreement that allowed for automatic increases in the retirement age as life expectancy increased.
If this principle continued unchanged, Danes would retire at 74 by 2070. Prime Minister Frederiksen pledged that in the future there will be no drastic changes in the retirement age and that the political agreement on this issue will be renegotiated.
Interestingly, Frederiksen will be eligible to benefit from previous regulations, allowing her to take an early parliamentary retirement at the age of 60. "Dagens Nyheter" reports that due to her tenure as an MP from 2001 to 2012, she may receive a future pension of nearly 24,000 Danish kroner (3,650 USD). She is currently 47 years old.
Members of the Danish parliament are entitled to a parliamentary pension, which they can claim at 60, but only if they served in parliament for at least one year before July 1, 2007. Currently, in Denmark, the retirement age is the same for both women and men. The pension can be obtained after reaching the age of 67.
