Denmark Sets New Global Standard: Retirement Age Raised to 70

Denmark Raises Retirement Age to 70, Highest Globally Denmark has become the first country to set its retirement age at 70. The Danish Parliament approved this measure on May 22, 2025, with 81 votes in favor and 21 against. This decision is part of a larger welfare reform initiated in 2006. The move makes Denmark the country with the highest retirement age in the world, according to the OECD. The reform responds to recommendations from international organizations like the International Monetary Fund (IMF), which has warned about the economic risks of aging populations. "The IMF has warned that the aging population endangers global economic growth and has urged countries to adjust their pension systems," explains Fernanda Gonzalez, a DW journalist. The video also highlights the low birth rate and increased life expectancy in Denmark as contributing factors to this decision. While the initial retirement age in Denmark was 65, similar to the OECD average, the increased life expectancy necessitates this change. The video also touches upon the need to reduce early retirements or incentivize later retirements to maintain economic stability. This significant decision by Denmark sets a precedent for other nations facing similar demographic and economic challenges.