Dear MEL Topic Readers,
Denmark raises retirement age to 70 — the highest in Europe
Retirement age is the age at which people usually retire from work and
become eligible for social security or a pension. With better health and longer
life expectancy, more people are able to and want to keep working in their 60s
or even 70s. This is good and needed for aging societies whose pension budget
has been squeezed due to rising pension costs, underfunded funds, and poorer
investment returns on pension fund assets. Recently, the retirement age has
been increased in many developed countries whose society is aging rapidly: 67
in Australia, 65 in Canada and Japan, 63 in China (men), 62 in the USA, and 60
in Turkey (men). In Europe, the pension eligibility age is 62 in France and
Italy, 63 in Germany, 66 in the UK, and 67 in Sweden and Denmark. This month, Denmark’s
parliament has voted to raise the retirement age to 70, the oldest in the world,
in order to maintain its welfare for future generations. In fact, more people
continue working while receiving a pension nowadays, thanks to their health and
more accommodating work conditions. In the meantime, it may be a stretch for
those who work for physically demanding jobs like construction or teaching. How
old is too old to work seems to depend on the individual’s health condition,
mental motivation, and the type of job.
Read the article and learn about the highest retirement age in the
world.
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