Denmark is raising its retirement age to 70 by 2040 to ensure the long-term sustainability of its welfare state and pension system in response to increasing life expectancy and an aging population. Part of the 2006 Welfare Agreement, this policy links the retirement age to longevity, reducing the financial burden on younger generations.
Because of the huge discrepancy in life expectancy, commentators have proposed increasing the full retirement age only for those who could work longer. That is, only the top 20 percent of each cohort would work until 70, and the increase would be scaled so that low earners would retain the current retirement age of 67.
While the FRA used to be 65 years old, Congress overhauled the program in 1983 to raise the retirement age threshold in order to account for longer life expectancies. As part of that revamp, the FRA has been inching higher by two months at a time, based on a person's birth year.
Denmark will soon be tied with Libya as having the highest official retirement age, at 70 years old. Other countries with high retirement ages include Australia, Greece, Iceland, Israel, Italy, the Netherlands, Spain, and the United States.
Denmark's Parliament in May adopted a law raising the retirement age to 70 by 2040, from the current age of 67.
Which Countries Have the Most Sustainable Pension Systems? Iceland, Denmark, and the Netherlands have the most financially sustainable pension systems due to well-balanced contribution rates and participation.
As of 2017, as reported by the Organisation for Economic Co-operation and Development (OECD), only three European member states (UK, Denmark and Poland) and four OECD countries (Canada, Australia, New Zealand, United States) had laws banning mandatory retirement.
How much pension can I collect? People who stop working because of their age are called retirees or “Rentner*innen.” When people are older, they no longer have to go to work; instead, they receive a monthly pension. These individuals are called "pensioners." The current retirement age in Germany is 67.
In November 2025, the full retirement age (FRA) — the age at which individuals qualify to receive 100% of their Social Security benefits — increased to 66 years and 10 months for those born in 1959. FRA gradually rises month by month, so in November 2025, those born in January 1959 reached their FRA.
Special rules favouring researchers and key employees recruited abroad. As an expert or a researcher, you only have to pay a gross tax of 27% for 84 month your earned income instead of the ordinary income tax. However, you lose your right to allowances.
Summary. Denmark is a popular place to retire due to its sustainable lifestyle and high standards of living and safety. The average cost of living in Denmark is 9.8% higher than in the US, and the tax rate on retirement pensions is 15.3%. Denmark is ranked as the tenth-best destination for Americans to retire abroad.
💧On average, Danes are 2.35 years younger biologically than their actual age. 🔎 But why? It comes down to a mix of physical and social factors like clean air, gender equality, and socioeconomic stability. Another significant factor is socio-political conditions.
The statutory retirement age for men will be gradually raised from 60 to 63 in the course of 15 years starting Jan. 1, 2025, while that for women cadres and women blue-collar workers will be raised from 55 to 58 and from 50 to 55, respectively.
Ecuador, Colombia, and Peru deliver some of the lowest costs of living and most accessible pension visas in Latin America, where a typical $2,000 monthly Social Security check can comfortably cover housing, healthcare, and everyday expenses.
Albania: 1-Year Visa Free Stay
The country offers one of the longest tourist visas for US citizens, making it a good option if you're looking for a temporary move or extended vacation. Length of stay: US citizens do NOT need a visa to enter Albania. You can generally stay for up to 1 year without a residence permit.
Finland is the world's happiest country, according to the World Happiness Report, offering retirees (and others) peace, safety, and balance. You can collect U.S. Social Security benefits while living in Finland.
Average house price in the country reached USD 341,020 in 2017 in Denmark, according to the National Statistical Office. This is 9.40% more than in the previous year. Historically, average house price in the country in Denmark reached an all time high of USD 354,376 in 2008 and an all time low of USD 15,131 in 1970.
Denmark's "24-year rule" is a strict family reunification requirement stating that both spouses must be at least 24 years old to bring a foreign partner to Denmark, aiming to prevent forced marriages and promote integration, though exceptions exist for certain critical situations like persecution or specific skilled jobs. This rule, along with stringent financial, housing, and integration criteria, significantly restricts family formation for many immigrants in Denmark.