COPENHAGEN: The Danish parliament has passed a new law under which the country’s retirement age will gradually be increased to 70 by the year 2040.
According to the British Broadcasting Corporation (BBC), with this increase in the retirement age, Denmark will become the country with the highest retirement age in Europe.
Since 2006, Denmark has linked its retirement age to the average life expectancy, and it is reviewed every five years.Currently, the retirement age in Denmark is 67, which will rise to 68 in 2030 and to 69 in 2035.According to the media report, the new retirement age law will apply to all individuals born after December 31, 1970. The law was passed in parliament with 81 votes in favor and 21 against.
It is worth noting that retirement ages vary across European countries, and many have raised the retirement age in recent years to address increasing life expectancy and budget deficits.
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