Dane-iability: Retirement age hike to 70 by 2040
The Danish parliament has decided to raise the retirement age from 67 to 70, which is set to take place by 2040. Prime Minister Mette Frederiksen assured that there will be no further increases, despite the projected rise in average life expectancy.
The new regulations apply to Danes born after 31 December 1970. People approaching retirement age will also be affected. In 2030, the retirement age in Denmark will rise to 68, and by 2035, it will be 69.
Denmark. Parliament supports raising the retirement age
The decision was supported by the majority of the Folketing (Danish parliament) members, although there were voices of opposition during the two-hour debate. The changes result from a 2006 agreement that provided for automatic increases in the retirement age as life expectancy increased.
If this principle were continued, Danes would retire at 74 by 2070. Prime Minister Frederiksen promised that in the future, there would be no drastic changes in the retirement age, and the political agreement on this issue will be renegotiated.
Interestingly, Frederiksen herself will be able to benefit from earlier regulations, allowing her to take an early parliamentary retirement already at the age of 60. "Dagens Nyheter" reports that due to her work as an MP from 2001 to 2012, she may receive a future pension of nearly 24,000 DKK (€3,200). She is currently 47 years old.
Members of the Danish parliament are entitled to a parliamentary pension, which they can obtain at the age of 60, but only if they served in parliament for at least one year before 1 July 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.
