Core Insights - Denmark will soon have the highest official retirement age in the world at 70 years, aligning with Libya, effective for those born after December 31, 1970, with gradual implementation until 2040 [3] - Prior to this change, Denmark was already among countries with the second-highest retirement age, alongside Australia, Greece, Iceland, Israel, Italy, and the Netherlands, while the U.S. and Spain followed with retirement ages of 66.7 and 66.5 years respectively [4] Group 1: Reasons for Increasing Retirement Ages - The increase in retirement ages globally is primarily driven by longer life expectancies, which are straining pension systems, a factor that has influenced Denmark's decision since 2006 [5] - Aging populations due to declining fertility rates have resulted in fewer young workers supporting a growing number of retirees, threatening the sustainability of pension systems [6] - Fiscal pressures from unbalanced budgets and inflation have compelled governments to raise retirement ages to manage public pension costs [7] Group 2: Comparative Retirement Ages - Libya holds the highest official retirement age at 70 years, with other countries like Australia, Greece, Iceland, Israel, Italy, the Netherlands, Spain, and the U.S. also having high retirement ages [9] - Countries with lower official retirement ages, such as India, Indonesia, and Turkey, typically have retirement ages set in the 50s, while Saudi Arabia has the lowest retirement age, allowing some workers to access full pension benefits as early as 47 [10]