Retirement at 70: Here's Why They Adopted New Rules
The retirement age in the 21st century is increasing across Europe in response to increased life expectancy and the length of time spent in retirement.
TL;DR
- Denmark's retirement age will rise to 70 for those born after 1970.
- This change will make Denmark the country with the longest working life in the EU.
- The reform is a response to increased life expectancy and aims to ensure the sustainability of the pension system.
- The retirement age in Denmark is linked to life expectancy and revised every five years.
- OECD predicts EU retirement age will approach 67 by 2060, with some countries exceeding 70.
- Critics argue that working until 70 is unsustainable, especially for physically demanding jobs, and call for differentiated retirement models.
- Average life expectancy in the EU is 81.5 years, meaning many live over 30 years in retirement.