Danish people born from 1954 onwards are the first age group to work longer following the retirement increase to 65.5 in 2019.

Analysis by Insurance and Pension Denmark shows that those born in 1954 are working right up to the new retirement age.

In the education sector, 95 per cent of employees born in 1954 retire between three months after they turn 65 and up to the new retirement age of 65.5. However, for skilled workers this figure is only 20 per cent higher that those born before them, as they are able to receive a public pension.

Commenting, Insurance and Pension Denmark deputy director, Jan V. Hansen, said: “When the statutory age limits for early retirement and the old-age pension are set, those affected continue to work longer than those before.”

“Later withdrawal from the labour market has supported a historically high employment rate in Denmark, which peaked in February just before the outbreak of coronavirus. We now see how the downturn in the economy and the rise in unemployment will affect the employment and retirement of senior citizens from the labour market.”

Until 2022, the retirement age will continue to rise gradually, until it reaches the age of 67. A survey by market research company, Epinion, found that 25 per cent of Danes want to retire before they reach retirement age.

On the other hand, studies by The Danish Centre for Social Science Research show that many people want to work after they retire.

“The survey also shows that one in three Danes who leave work in connection with retirement would like to have worked longer. This suggests that greater flexibility is needed. That need has not been lessened by the crisis we are in right now,” Hansen stated.

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