Europe’s fastest-ageing countries also already offer some of the most generous pensions and lowest retirement ages. The average French retiree now spends 23 years drawing a pension, longer than in any other OECD country (see chart below). In Denmark, by contrast, pensioners draw one for 19 years on average. Its government plans to raise the retirement age from 67 to 70 by 2040, which would be the highest in Europe.
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