Across Europe, aging populations are putting pressure on pension systems. But two Nordic countries — Iceland and Denmark — are showing what’s possible when retirement is reimagined. 📊 According to Eurostat (2023):
- Iceland: People begin receiving pensions at an average age of 66.2 years — the highest in Europe.
- Denmark: Follows closely at 65.7 years.
- EU average: Just 61.3 years.
Source: Age at which the person started receiving an old-age pension (2023)[lfso_23pens03]
Even more striking is labor participation:
- In Iceland, 59.2% of people aged 60–74 are still employed, with over half working without drawing a pension.
- In Denmark, 36.1% remain employed, and 31.1% work without pension.
- In the EU overall, only 24.1% in this age group are employed, with 17.7% working without pension.
🔑 Why are Iceland and Denmark leading the way?
- Flexible and later pension eligibility with financial incentives.
- Healthy aging supported by strong public health systems.
- Positive cultural norms around older workers.
- Policy support for lifelong learning and flexible work conditions.
💡 Why it matters: Pension systems across Europe face demographic pressures. Iceland and Denmark show that with the right policy mix and mindset, it’s possible to reduce fiscal burdens — while enhancing wellbeing and dignity in later life.
📈 The key takeaway? Retirement doesn’t have to be a cliff — in Iceland and Denmark, it’s more like a gradual slope.
💬 What do you think: Should Europe embrace later and more flexible exits from the workforce?
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