Denmark opts for a 70-year retirement model and is ahead of the rest of Europe
The country is following the European trend and is getting progressively older every year, which is endangering its social security system.
Denmark's prime minister, Mette Frederiksen
The Danish parliament this week approved a reform that officially pushes back the retirement age to 70. The measure has been presented as a necessary response to the country's aging demographics and growing pressure on public accounts.
The law, an initiative of the moderate left-wing government and backed by much of the conservative opposition, amends the previous framework that allowed retirement at 67. The new legislation will take full effect in 2040.
"We need Danes to work longer. Not for ideology, but for the sustainability of the system," Finance Minister Nicolai Wammen said after the parliamentary vote.
The measure has been met with protests in Copenhagen and other cities across the country, where unions and workers' associations denounce a "punishment" for those who perform physical labor and grow older in poorer health. The protesters allege that the reform does not provide exceptions for particularly demanding professions, such as operators, transport workers or cleaners.
Europe is aging and its social system is being strained
In Germany, the goal is to reach 67, while in Italy and Spain the threshold is already between 66 and 67, depending on contributions.
The trend is clear: Europe's public systems are under pressure, and lengthening working life is starting to become the common, though not the most popular, answer.
Proponents of the plan argue that Denmark, with one of the highest life expectancies in the world, must adapt its pension system to the new population balance. In 2024, more than 20% of Danes will be over 65, and the country faces a sustained drop in the birth rate.
The government assures that early retirement mechanisms will be maintained for cases of disability, but the requirements will be stricter than at present. Those who cannot work until 70 will be offered "assisted alternatives," which have not yet been detailed.
In the United States, the measure has attracted attention. Some U.S. media interpret it as a preview of what other developed countries may have to take on in the next decade.
"The idea of retiring at 65 could be living out its final years," a New York financial media outlet headlined this week.
Denmark thus becomes one of the first countries in the world to set 70 as the official reference for retirement. A pragmatic decision for some, but difficult to digest for others.
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