Denmark Raises Retirement Age to Record-Breaking High
For millions of people across the globe, the ultimate goal in their professional life is to retire early and enjoy the activities that mean the most to them. Unfortunately the European country of Denmark, that dream just slipped further away from ordinary citizens' fingertips.
As reported by the BBC, Denmark's parliament has recently voted to extend the nation's retirement age to a whopping 70-years-old. Unsurprisingly, the new government change has average Danes groaning aloud in frustration.
During the parliamentary proceedings, Denmark's government opted to increase the retirement age to 70 by 2040 -- a proposal passed by a vote of 81 votes for and 21 votes against.
Through this decision, Denmark has set a new record for the highest retirement age in Europe, surpassing Greece, Italy, Norway, Iceland and the Netherlands by three years.
Previously, Denmark was tied with these leading European nations for the oldest retirement age on the continent. More recently, however, the retirement is set to rise to 68 by 2030, 69 by 2035 and eventually 70 by 2040.
Traditionally, Denmark's parliament chooses to raise the retirement age in order to reflect the national life expectancy rates within the country, upping the retirement age every five years.
However, many of Denmark's most influential politicians have voiced frustration with the policy, believing it "unfair" to increase the retirement age with such regularity.
"We no longer believe that the retirement age should be increased automatically," said Social Democrat Prime Minister Mette Frederiksen. "You can't just keep saying that people have to work a year longer."
Similarly, Jesper Ettrup Rasmussen -- chairman of a Danish trade union group -- called the increase "completely unfair."
"Denmark has a healthy economy and yet the EU's highest retirement age," Rasmussen bluntly stated. "A higher retirement age means that [people will] lose the right to a dignified senior life."
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