Denmark to have world's highest retirement age
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READING:
Increased longevity is pushing up ages of retirement. Denmark's government has announced it will raise the retirement age for its citizens to 70 by the year 2040. Denmark's workers will have the world's longest wait before they can retire. Denmark said the new law was because of increasing life expectancy. However, a trade union leader in Denmark expressed his consternation at this. He said: "Denmark has a healthy economy and yet the EU's highest retirement age". He added: "A higher retirement age means that [workers will] lose their right to a dignified senior life."
The world's first retirement age was set at 70 in Germany in 1881. It reduced this to 65 in 1916. Many countries followed and introduced their own ages for workers to retire. The USA first adopted a retirement age in 1935. The USA Today website said the retirement age in America was creeping up. It wrote: "The upward trend is slow, but striking. In 1994, the average man worked to age 61, while the typical woman clocked out at 59. Americans are living longer, and working longer." China has also announced an increase. This will take effect over the next 15 years.
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