OECD projects longer working lives in Europe — Denmark's retirement age could reach 74

The Organisation for Economic Co-operation and Development (OECD) warns that statutory retirement ages across Europe are likely to keep rising as life expectancy grows, and many countries have already started gradual increases.

Denmark tops the projections

In the OECD's latest edition of the report "Pensions at a Glance", the average statutory retirement age for people who retired in 2024 was about 64.7 years for men and 63.9 years for women. For those just entering the labour market, the OECD projects a markedly longer working life — on average 66.4 years for men and 65.9 years for women.

Denmark stands out as the most extreme example. Its current statutory retirement age is 67, and the parliament has already approved raising it to 70 by 2040. If the existing formula that automatically links the pension age to life expectancy remains in force, the OECD projects Denmark's retirement age could reach as high as 74 years — a projection that depends on future demographic trends and that is already prompting debate in the country about possibly loosening the formula after 2040.

The OECD's projections show similarly high future thresholds elsewhere in Europe: Estonia could reach 71 years; Italy, the Netherlands and Sweden are projected at around 70 years; Slovakia and Finland at 69 and 68 years respectively. Belgium and the Czech Republic are increasing their retirement age to 67, while the United Kingdom plans a gradual rise toward 68.

Policymakers cite demographic pressure as the main driver: Europeans are living longer while the share of working-age people is shrinking. In many countries legal conditions for men and women have already been equalised, and where differences persist authorities are phasing them out. The OECD emphasises that the gap between today's retirees and the generation entering the labour market will be large: while current retirees leave work at about 65 on average, young entrants should prepare for substantially longer careers.

Photo: press material from the event