Denmark is set to have the highest retirement age in Europe after its parliament adopted a law raising it to 70 by 2040. Since 2006, Denmark has tied the official retirement age to life expectancy and has revised it every five years.

Experts are now suggesting that as a result of Denmark's legislation, it seems "almost inevitable" the UK will follow suit by raising the state pension age to 70. In the UK, the present age for state pension eligibility is 66, but questions loom on how much further this might rise.

Denmark will increase its retirement age to 70 by 2040. Other developed countries could do the same as the number of workers declines in the coming years.