From 2040, Danish people born after 31 December 1970 will be eligible to retire at 70 years old.

Denmark is set to have the highest retirement age in Europe after its parliament adopted a law raising it to 70 by 2040.

The retirement age at 70 will apply to all people born after 31 December 1970.

  • plc@feddit.dkEnglish
    101·
    13 hours ago

    The main economically meaningful aspects of “retirement age” in Denmark AFAIK is that:

    • You get entitled to receiving the public, state-paid pension.
    • Private pension schemes that vest at this point or later are tax deductible. (you still pay taxes when it’s paid out, but due to the progressive tax code you end up paying less)

    By far the most relevant of the two is the latter, as practically everyone is covered by pension schemes included in employment contracts.

    As such you can still retire any time you want, but it will be more burdensome for you to it earlier than at the age sanctioned by law.

    • Urist@lemmy.mlEnglish
      15·
      5 hours ago

      No, it means only people with good pensions can retire early. Incidentally, this is by design those with high wages since these are the basis of earning pension. However, the ones that may actually need to retire early due to the stress of hard menial labor are not in this group of high earners.

      In effect we will see people at offices doing easy work close their pcs and have an office retirement party at an age of 65 that poor Olga of 70 years (or more) will have to clean up.

    • mriswith@lemmy.worldEnglish
      3·
      8 hours ago

      In the US medicaid starts at 65, but you can get lucky and have workplace pension that start early. You only get “full retirement” with Social Security/state pension if you wait until 67 and many wait until then. Which seems similar to Denmark.