Denmark raises retirement age to 70 by 2040

Denmark's parliament adopted a law on Thursday raising the retirement age to 70 by 2040 from the current age of 67.

A total of 81 lawmakers voted in favour and 21 were opposed, the Folketing said on its website.

Since 2006, Denmark has indexed the official retirement age to life expectancy and has revised it every five years.

In 2030 the retirement age will increase to 68 and in 2035 it will go up to 69.

The new law sets the retirement age at 70 for all people born after December 31, 1970.

Social Democratic Prime Minister Mette Frederiksen, 47, said last year she was ready to review the system once the retirement age was set at 70.

"We no longer believe that the retirement age should be increased automatically," she told daily Berlingske in August.

Source: AFP