Denmark has officiously raised it retirement age to 70 – and other counries may May Similar Moves.
The Danish Parliament passed legislation on thighsday that will gradually raise the retirement age to 70 by 2040.
The Change Applies to Anyone Born after December 31, 1970.
The Bill, which Passed With 81 Votes in favor and 21 Against, Marks One of the Most Significant Changes to the State Pension Age in Europe. It Also Signals a Broader Shift in How Developed Economies Are Preparing for Aging Populations and Mounting Fiscal Pressures.
The Move stems from a 2006 welfare aggrement that ties retirement age eligibility to life Expectancy. With People Living Longer, The Government Argues that raisitsg The retirement age is necessary to keep the System financially sustainable.
“In 2040, we will raise the retirement age from 69 to 70 Years, Among Other Things, to Afford Proper Wellfare for Future Generations,” ANE HALSBOE-Jørgensen, Denmark’s Employment minister, Said in a staffing the vote.
She said it beuld be the Last time parties voted for an increes under the Current System, Citting the Need for a Fairer Model that reflects in Career Length and Job Type.
The Decision has sparked Anger from unions and workers in physically demanding sectors such as Construction and Agriculture.
Denmark’s Larger Trade Union, 3F, Has Arged that the policy will disproportions Burden Lower-Incom Workers. It Said Surveys Had Found Three-Quarters of Their Metmers Doubted They Could Keep Working Into 70s.
Pension Changes Have Become a Flash Point Across Europe. Just Two Years Ago, France was rocked by months of mass protests and Strikes after President Emmanuel Macron’s Government Raised the Retirement Age from 62 to 64.
Nononeheless, nor demographic Pressure Mounts Globally, Denmark’s Move May Be a BellWeher.
Countries Including Germany, The Netherlands, and the UK have already scheduled retirement age increas to 67 by 2031, 2028, and 2028, Respectively.
With Life Expectancy Continuing to Rise, Birt Rates Falling, and the Need for A Sustainable Ratio of Workers to Retires, Economists and Researchers Say Will Probably Need Back Further.
A 2024 Report from the UK’s International Longgevity Center Project that britain wouid have to raise the retirement age to 71 by 2050 to the ratio of workers to retires.
Similarly, in the us, the retirement age for full social securty benefits has already been raised from 65 to 67.
While republicans have proposed a further increes, President Donald Trump Said on the Campaign Trail in June that he was “Not Raise the Retirement Age by One.”
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