How the Danish State Pension Works

Full transcript

In Denmark, almost everyone who lives there can look forward to a state pension one day. To get the full pension, you need to have lived in Denmark for at least forty years after turning fifteen. If you fall short of that, you simply receive a fractional pension instead of the full amount. The retirement age itself is rising — for people born after 1970, it will be seventy years old. Parliament reviews this age roughly every five years, aiming eventually for seventy-four, based on expected remaining years of life. The pension itself has two parts: a basic amount for everyone, plus a supplement that depends on your living situation. Singles get a bigger supplement than couples, and extra help can be added based on health or personal needs.