Denmark raises retirement age to 70 years: What does that mean for us?

Denmark raises retirement age to 70 years: What does that mean for us?

Kopenhagen, Dänemark - On May 22, 2025, Denmark took an important step towards a reform of the pension system. The parliament in Copenhagen passed a law that is to raise the pension age until 70 years. This decision was approved with 81 votes for and 21 votes against the bill. All citizens who were born after December 31, 1970 are affected by this regulation, while the current retirement age in Denmark is 67 years. Denmark has continuously adapted to the rising life expectancy since 2006 and has checked the corresponding figures every five years to ensure a fair regulation.

The Prime Minister Mette Frederiksen commented on the innovations and explained that a review of the system should take place if the retirement age reaches the 70 years. Frederiksen emphasized that the retirement age should not be automatically increased in order to offer the citizens planning and life safety.

comparison with other European countries

In a wider European context, Denmark's decision is not isolated. The retirement age in Austria is currently 65 years for men; It will be gradually raised for women until 2033. However, there are currently no increases of the retirement age planned in Austria. Rather, the triple coalition will introduce a tightening of the corridor board. From 2026 the earliest possible starting age is to be increased from 62 to 63 years, while the insurance periods should increase from 40 to 42 years.

In Germany, the retirement age, depending on the year of birth, is gradually 67 years. The federal government advisors even recommend an increase to 68 years, while some economists demand 70 years. The trend in many countries, both within and outside of Europe, is in the direction of an increase in the retirement age, since the financial sustainability of the pension systems is increasingly under pressure.

external influences on the pension system

The challenges that pension systems face on a global scale are enormous. According to current data on the retirement age in Europe, which was collected by the OECD, the statutory retirement age in many countries such as Iceland, Ireland and Portugal is comparable or even higher than in Denmark. In countries such as France and Greece, on the other hand, the step age is lower, which increases the financial burdens in these systems. As a result of the demographic changes, the need to gradually increase the retirement age is increasingly pressing.

Developments in Denmark are part of a more comprehensive trend that illustrates the need for adjustments in the national pension systems. Denmark will continue to actively deal with the challenge of creating a stable and just pension model that meets the needs of the population while taking into account the financial realities.