Denmark has officially raised its retirement age to 70 by 2040, a significant move in response to an aging population and fiscal pressures. The Danish Parliament's decision, which ties pension eligibility to life expectancy, reflects a broader trend in developed economies. While the government argues this is necessary for future welfare sustainability, the change has ignited backlash from unions who believe it disproportionately impacts lower-income and physically demanding jobs. The move may influence other countries facing similar demographic challenges.
The Danish Parliament has passed legislation to gradually raise the retirement age to 70 by 2040, marking a significant change to the state pension age in Europe.
'In 2040, we will raise the retirement age from 69 to 70 years... to afford proper welfare for future generations,' said Ane Halsboe-Jørgensen.
The decision has sparked anger from unions and workers, especially in physically demanding jobs, highlighting concerns about fairness and sustainability.
Denmark's largest trade union, 3F, stated three-quarters of its members doubt they can keep working into their 70s, stressing the disproportionate impact on lower-income workers.
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