Denmark will raise the retirement age to a record high in Europe by 2040

The country's parliament has approved a bill that provides for a gradual increase in the retirement age to 70 years. The retirement age is currently 67.

Since 2006, Denmark has been tying the retirement age to life expectancy and reviewing it every five years. According to the new decision of the authorities, the retirement age will be raised in three stages: to 68 years by 2030, and to 69 years by 2035.

The final stage is scheduled for 2040, at which time the retirement age in Denmark will reach the age of 70. The reform will apply to people born after December 31, 1970. 81 deputies voted for the pension reform, 21 against it. Europe is rapidly aging. Life expectancy is increasing, but the birth rate is falling. Because of this, by 2030, the retirement age in Germany and Norway for both men and women will be 67 years old. In France, this bar was set two years ago. Experts predict that with the current growth rate of life expectancy, the working age will be increased to 70 years. Otherwise, the Old World faces a massive influx of migrants. The German Institute for Economic Research in Berlin (DIW) is already actively advocating the start of a broad discussion on raising the retirement age in the country to 70 years.