Latest news with #Beveridge
Time of India
3 days ago
- Business
- Time of India
Retirement in Europe: How long will we have to work?
Representative image (AI) On May 22, the Danish parliament passed legislation raising the retirement age. The law, approved by 81 lawmakers with 21 voting against, sets the retirement age at 70 for all citizens born after December 31, 1970. Currently, the retirement age in Denmark is 67. By 2030, it will rise to 68, and by 2035 to 69. Last year, 47-year-old Social Democratic Prime Minister Mette Frederiksen stated that she would be open to reviewing the system once the official retirement age reached 70. International comparisons show just how differently retirement ages are regulated. In some countries, people continue to work even longer than they are legally required to. Will Germany follow Denmark's lead? Germany's new government is still trying to figure out how to deal with the country's struggling statutory pensions system. At a party convention of the ruling Christian Democratic Union (CDU) in Stuttgart recently, Germany's new chancellor, Friedrich Merz, praised himself and his Social Democratic coalition partner for having "written many good things into the coalition agreement" — the key issue of how to shore up the finances of the chronically underfunded pension system, however, isn't among them. Merz warned that "the way things are today can only last for a few more years at most." For Bernd Raffelhüschen, a former government economic advisor, the Danish reform effort is worth emulating. "We should raise the retirement age to 70 quickly so we can still catch at least part of the baby boomer generation," the economist told the Augsburger Allgemeine newspaper recently, referring to the large cohort of people born at the end of the 1950s and early 60s, who are currently retiring in huge numbers. Raffelhüschen said that because 1 million Germans will be leaving the workforce every year until 2035, this would push pension contributions higher for younger generations. Beveridge vs. Bismarck Pension financing in Europe follows two main models named after their founders: the Bismarck model, based on social legislation introduced by German Chancellor Otto von Bismarck in the 19th century, and the Beveridge model, developed in the 1940s. The Beveridge system is a welfare model that provides universal coverage and is tax-funded. It was devised by British economist William Henry Beveridge, a member of the UK Liberals' parliamentary faction. The Bismarck model, on the other hand, is an insurance-based system in which both workers and employers pay into a fund. In simplified terms, it's a so-called pay-as-you-go system where the working population finances the pensions of retirees through their contributions. This is why comparing pension systems across Europe is difficult — even more so as many countries use hybrid models combining aspects of both. The specifics, often complex, also vary widely between nations. Demographics, and the benefits of working longer — or shorter Germany's Bismarck-based system is increasingly under strain due to demographic changes. As the population ages and the workforce shrinks, there are more retirees and fewer people to fund the social insurance schemes. At the same time, people are living longer due to rising life expectancy, which means they draw pensions for more years. This puts mounting pressure on pay-as-you-go pension funds, with the result that either contributions must keep rising, or pension benefits may stagnate, failing to keep up with inflation. Alternatively, the overall pension level may have to drop Of course, a shorter working life and earlier retirement are appealing for most people as they can leave work before their physical capabilities decline and use the final third of their lives for meaningful activities or more time with family. There are also economic benefits, as more leisure time creates more opportunities to spend money, thus stimulating consumer demand and the broader economy. But working longer can also have advantages. Many people feel fit and engaged well into their 60s so that they may enjoy continuing to work, pass on their knowledge, and value interaction with younger colleagues. Employers benefit from retaining experienced staff and established routines, which may also help to mitigate the skilled labor shortage in Germany. Retiring a personal decision Looking at international statistics reveals that legal retirement age rarely aligns with when people actually stop working. In most cases, people retire earlier because their bodies can't keep up, or in creative professions, because of burnout. In a few countries like New Zealand, Japan, Sweden, or Greece, people often work beyond the official retirement age. Whether they do so voluntarily is unclear. The reasons are often too personal to be captured by statistics.\ The so-called gross replacement rate — the ratio of pension benefits to the final salary — plays a major role in people's decisions. If that gap is too wide, some workers can't afford to retire. The threat of old-age poverty could be reduced if pensions were high enough to provide financial security after a long career. But that would require money that the pension system currently lacks. On the other hand, raising contribution levels too much would limit workers' ability to save privately for retirement.
DW
5 days ago
- Business
- DW
Retirement in Europe: How long will we have to work? – DW – 05/28/2025
Beginning in 2040, Danes will not be eligible for retirement until they reach the age of 70. While European pension systems are difficult to compare directly, some fear this may signal a broader trend. On May 22, the Danish parliament passed legislation raising the retirement age. The law, approved by 81 lawmakers with 21 voting against, sets the retirement age at 70 for all citizens born after December 31, 1970. Currently, the retirement age in Denmark is 67. By 2030, it will rise to 68, and by 2035 to 69. Last year, 47-year-old Social Democratic Prime Minister Mette Frederiksen stated she would be open to reviewing the system once the official retirement age reached 70. In Denmark, more elderly people are returning to work To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video International comparisons show just how differently retirement ages are regulated. In some countries, people continue to work even longer than they are legally required to. Will Germany follow Denmark's lead? Germany's new government is still trying to figure out how to deal with the country's struggling statutory pensions system. At a party convention of the ruling Christian Democratic Union (CDU) in Stuttgart recently, Germany' new chancellor, Friedrich Merz, praised himself and his Social Democratic coalition partner for having "written many good things into the coalition agreement" — the key issue of how to shore up the finances of the chronically underfunded pension system, however, isn't among them. At least, Merz warned that "the way things are today can only last for a few more years at most." In Belgium, a recent attempt to introduce the age of 67 as retirement age was accompanied by nationwide protests Image: Yves Herman/REUTERS For Bernd Raffelhüschen, a former government economic advisor, the Danish reform effort is worth emulating. "We should raise the retirement age to 70 quickly so we can still catch at least part of the baby boomer generation," the economist told the Augsburger Allgemeine newspaper recently, referring to the strong cohort of people born at the end of the 1950s and early 60s, who are currently retiring in huge numbers. Raffelhüschen said that because one million Germans are leaving the workforce every year until 2035, this would push pension contributions higher for younger generations. Beveridge vs. Bismarck Pension financing in Europe follows two main models named after their founders: the Bismarck model, based on social legislation introduced by German Chancellor Otto von Bismarck in the 19th century, and the Beveridge model, developed in the 1940s. The Beveridge system is a welfare model that provides universal coverage and is tax-funded. It was devised by British economist William Henry Beveridge, a member of the UK Liberals' parliamentary faction. Bismarck introduced the German pension system which was a huge social achievement at his time Image: Portrait, Otto von Bismarck, Fürst von Bismarck, Holzschnitt, Reichskanzler The Bismarck model, on the other hand, is an insurance-based system in which both workers and employers pay into a fund. In simplified terms, it's a so-called pay-as-you-go system where the working population finances the pensions of retirees through their contributions. This is why comparing pension systems across Europe is difficult — even more so as many countries use hybrid models combining aspects of both. The specifics, often complex, also vary widely between nations. Demographics, and the benefits of working longer — or shorter Germany's Bismarck-based system is increasingly under strain due to demographic changes. As the population ages and the workforce shrinks, there are more retirees and fewer people to fund the social insurance schemes. At the same time, people are living longer due to rising life expectancy, which means they draw pensions for more years. This puts mounting pressure on pay-as-you-go pension funds, with the result that either contributions must keep rising, or pension benefits may stagnate, failing to keep up with inflation. Alternatively, the overall pension level may have to drop. Today, elderly people are healthier than in the past, thus living on pension payments much longer Image: Julian Stratenschulte/dpa/picture alliance Of course, a shorter working life and earlier retirement are appealing for most people as they can leave work before their physical capabilities decline and use the final third of their lives for meaningful activities or more time with family. There are also economic benefits, as more leisure time creates more opportunities to spend money, thus stimulating consumer demand and the broader economy. But working longer can also have advantages. Many people feel fit and engaged well into their 60s so that they may enjoy continuing to work, pass on their knowledge, and value interaction with younger colleagues. Employers benefit from retaining experienced staff and established routines, which may also help to mitigate the skilled labor shortage in Germany. Retiring a personal decision Looking at international statistics reveals that legal retirement age rarely aligns with when people actually stop working. In most cases, people retire earlier because their bodies can't keep up, or in creative professions, because of burnout. In a few countries like New Zealand, Japan, Sweden, or Greece, people often work beyond the official retirement age. Whether they do so voluntarily is unclear. The reasons are often too personal to be captured by statistics. Wealthy country, poor pensioners: Old age poverty in Germany To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The so-called gross replacement rate — the ratio of pension benefits to the final salary — plays a major role in people's decisions. If that gap is too wide, some workers can't afford to retire. The threat of old-age poverty could be reduced if pensions were high enough to provide financial security after a long career. But that would require money that the pension system currently lacks. On the other hand, raising contribution levels too much would limit workers' ability to save privately for retirement. This article was originally written in German.
7NEWS
6 days ago
- Sport
- 7NEWS
Kane Cornes defends himself over ‘embarrassing' report on Luke Beveridge exchange
Channel 7 commentator Kane Cornes has taken aim at rival broadcaster Fox Footy over an 'embarrassing report' about his fiery exchange with Western Bulldogs coach Luke Beveridge. Cornes and Beveridge exchanged words ahead of the Bulldogs' clash with Geelong last Thursday night with vision of the incident caught on Seven's coverage. WATCH THE VIDEO ABOVE: Kane Cornes defends himself over coverage of Luke Beveridge saga. Know the news with the 7NEWS app: Download today Cornes has been a strong critic of Beveridge over the years, believing the team has underperformed since winning the 2016 premiership. The Port Adelaide great explained the situation on Seven's coverage and the following day on SEN radio, revealing he just said 'g'day Bevo' after the Bulldogs coach was staring at him. Corned didn't have a problem with Beveridge's reaction, but he did have a major issue with how Fox Footy journalist Jon Ralph reported the incident. 'Cornes was already banned from the Dogs' rooms after a series of negative articles and comments in regards to Beveridge. The club believes it's personal – called him a 'poor ambassador for his football club', called for his sacking repeatedly,' Ralph said in his cross on the night of the incident. 'People around the situation felt like Cornes stepped into his space and they're thankful that Beveridge did walk on. Cornes said Beveridge was 'starting quite strongly at him', so he said 'G'day Bevo' – and it wasn't received well.' 'The question here is whether this is deliberately disrespectful and antagonistic, whether it was the time and the space for Cornes to talk to Beveridge. 'It'll be great for the Cornes publicity machine, but I think Beveridge in a really highly emotional state in what he would believe to be a safe space pre-match dealing with all the issues he faced with the Bailey Smith saga, this was not the time and the place and felt like he was specifically baited from someone who the club had already banned. 'Certainly an unnecessary and sorry saga that continues between Cornes and Beveridge.' Speaking on The Agenda Setters, Cornes called out Ralph to apologise for the 'embarrassing' report that said the commentator encroached into Beveridge's space. 'I read that too and it was ridiculous,' Cornes said. 'I think it's important as your journalist to have your integrity intact and the last thing you want to do is mislead and misrepresent an incident that went down and you want to get both sides of what happened. 'What Jon Ralph said there is embarrassing, he misled and misrepresented what happened, and all he had to do was check the vision before he wanted to run a narrative that suited him for the benefit of his channel and himself. 'I thought those comments were really ordinary. I have not heard from Jon, I would have expected an apology off the back of that, but all he had to do was ring me and asked me what happened or look at the vision and not take the word of the Western Bulldogs word for word before he went with that.' The Agenda Setters then showed another angle of the incident, which showed Cornes standing his ground and only taking a step towards Beveridge after the Dogs coach walked past. 'Where have I encroached on the space? After Luke Beveridge has said something to me, I walked towards him and said 'Aren't I allowed to say hello?' So for Jon to go with that is embarrassing,' Cornes added. Fellow Channel 7 commentator Nick Riewoldt, who was alongside Cornes when the incident unfolded, said it was anything but 'antagonistic'. 'I was right behind you and the first words that were uttered were you saying 'Bevo', so if that's antagonistic then I probably need to check the definition of it,' he added.
Perth Now
6 days ago
- Sport
- Perth Now
Kane Cornes takes aim at ‘embarrassing' report on Bevo saga
Channel 7 commentator Kane Cornes has taken aim at rival broadcaster Fox Footy over an 'embarrassing report' about his fiery exchange with Western Bulldogs coach Luke Beveridge. Cornes and Beveridge exchanged words ahead of the Bulldogs' clash with Geelong last Thursday night with vision of the incident caught on Seven's coverage. WATCH THE VIDEO ABOVE: Kane Cornes defends himself over coverage of Luke Beveridge saga. Cornes has been a strong critic of Beveridge over the years, believing the team has underperformed since winning the 2016 premiership. The Port Adelaide great explained the situation on Seven's coverage and the following day on SEN radio, revealing he just said 'g'day Bevo' after the Bulldogs coach was staring at him. Corned didn't have a problem with Beveridge's reaction, but he did have a major issue with how Fox Footy journalist Jon Ralph reported the incident. Kane Cornes has taken aim at Fox Footy over their coverage of his exchange with Luke Beveridge. Credit: Channel 7 'Cornes was already banned from the Dogs' rooms after a series of negative articles and comments in regards to Beveridge. The club believes it's personal – called him a 'poor ambassador for his football club', called for his sacking repeatedly,' Ralph said in his cross on the night of the incident. 'People around the situation felt like Cornes stepped into his space and they're thankful that Beveridge did walk on. Cornes said Beveridge was 'starting quite strongly at him', so he said 'G'day Bevo' – and it wasn't received well.' 'The question here is whether this is deliberately disrespectful and antagonistic, whether it was the time and the space for Cornes to talk to Beveridge. 'It'll be great for the Cornes publicity machine, but I think Beveridge in a really highly emotional state in what he would believe to be a safe space pre-match dealing with all the issues he faced with the Bailey Smith saga, this was not the time and the place and felt like he was specifically baited from someone who the club had already banned. 'Certainly an unnecessary and sorry saga that continues between Cornes and Beveridge.' Speaking on The Agenda Setters, Cornes called out Ralph to apologise for the 'embarrassing' report that said the commentator encroached into Beveridge's space. Stream full episodes of The Agenda Setters for free, live or on-demand, at 7plus 'I read that too and it was ridiculous,' Cornes said. 'I think it's important as your journalist to have your integrity intact and the last thing you want to do is mislead and misrepresent an incident that went down and you want to get both sides of what happened. 'What Jon Ralph said there is embarrassing, he misled and misrepresented what happened, and all he had to do was check the vision before he wanted to run a narrative that suited him for the benefit of his channel and himself. 'I thought those comments were really ordinary. I have not heard from Jon, I would have expected an apology off the back of that, but all he had to do was ring me and asked me what happened or look at the vision and not take the word of the Western Bulldogs word for word before he went with that.' The Agenda Setters then showed another angle of the incident, which showed Cornes standing his ground and only taking a step towards Beveridge after the Dogs coach walked past. 'Where have I encroached on the space? After Luke Beveridge has said something to me, I walked towards him and said 'Aren't I allowed to say hello?' So for Jon to go with that is embarrassing,' Cornes added. Fellow Channel 7 commentator Nick Riewoldt, who was alongside Cornes when the incident unfolded, said it was anything but 'antagonistic'. 'I was right behind you and the first words that were uttered were you saying 'Bevo', so if that's antagonistic then I probably need to check the definition of it,' he added.
7NEWS
23-05-2025
- Sport
- 7NEWS
Inside the frosty exchange between Kane Cornes and Luke Beveridge at GMHBA Stadium
Expert AFL commentator Kane Cornes has detailed what was said during his explosive pre-game confrontation with Western Bulldogs coach Luke Beveridge on Thursday night. The pair faced off at GMHBA Stadium ahead of the epic encounter between the Dogs and Geelong, with vision of the frosty exchange caught on Seven's coverage. Cornes has been strong critic of Beveridge over the years, believing the team has underperformed since winning the 2016 premiership. The Port Adelaide great was commentating for Channel 7 on Thursday when Beveridge walked past him on the ground. 'I was standing close to the boundary line just in front of where we had our LED pod getting ready to go on TV,' Cornes said on his Friday radio show SEN's Fireball. 'I was staring out blankly into space to the players warming up and just out of the corner of my eye Luke Beveridge and the crew started walking towards me. I thought, 'Oh, OK, this is going to be interesting. How do I play this?' 'So I just stood there and looked out and as he came closer to me, he was staring at me strongly, with a strong look on his face. That was from 10 or so metres away and as he got a little bit closer, I looked back and I just said, 'Bevo,' and nodded my head. 'The reaction (from Beveridge) was the reaction that you saw. 'I don't know if it's for me to share what he said. I'm happy to tell you exactly my part in this — other than to say 'Bevo', and nodded my head ... it wasn't received well. 'It was something along the lines of, 'You've got the nerve to say that,' and I just said, 'What, I can't say hello?'. 'Then he turned around again and started to go again and that's when he was dragged away. 'But it's OK, it's fine. He's combative, he protects his club. I've got no issue with it. We can have a bit of a laugh about it, I think.' Cornes also explained why he took some steps towards Beveridge during the exchange. 'It was never going to become physical. He had his own security guards, he had a couple of club officials pulling him way,' he said 'It was more just a flinch reaction or a shock reaction when you're not expecting something. Your initial instinct is to walk over and say, 'Did I hear that correctly?', type of thing. 'It was over pretty quickly.' After the game, Beveridge shut down any talk about the clash. 'What incident?' he said. 'Ultimately we come in here, we talk about the game, that's probably all we're after isn't it? 'If you're trying to drum up any controversy, I don't think there was any. I've really got nothing to say. You're not going to get me to bite.' Cornes is not the only person in the media that Beveridge has had an issue with over the years. AFL Media's Damian Barrett has regularly spoken about an encounter with Beveridge and the coach had a famous blow-up at journalist Tom Morris (who would lose his job not after that for another issue that surfaced) about a team selection story. 'I'm not the first person he's had a run-in with, there's been many,' Cornes said. 'Caro (veteran AFL journalist Caroline Wilson from Channel 7's The Agenda Setters and The Age), Damo (Damian Barrett), Mark Robinson (former Herald Sun chief football writer), Tom Morris, and myself. 'He's a combative character. I'm sure I won't be the last and we move on.' Cornes shared a strong opinion on Beveridge's public persona three weeks ago when The Agenda Setters co-host Craig Hutchison described the coach as being on a 'charm offensive' with the media. Beveridge is in the final year of his contract but Hutchison said the timing of the coach's media 'campaign' was no coincidence. Backed by a strong run of form to catapult the Dogs into top-four contention, Beveridge has recently been reported to be on the brink of an extension. 'This has been a coach who has been largely unavailable to the media for a long period of time, and we're now seeing — which is a positive thing, by the way — him open up and be available and vulnerable,' Hutchison said at the time. 'He's getting a terrific hearing from everywhere that he does interviews at the moment. 'It's been Sheedy-like, in my mind. And again on the weekend he got favourable coverage through the papers. 'Is he playing the Bulldogs on the break here with this PR campaign?' Cornes said Beveridge was 'playing the media on a break'. 'I find it incredibly amusing that he's detested the media for such a long period of time and then you're getting these sort of headlines,' he said. 'I think he's sucked in the media and I don't think it's authentic. It's strange. 'Now, maybe someone has sat him down and given him that feedback (that he hasn't made himself available enough) and he's taken that on board and it's been good for the club, and I'd rather coaches speak than not. 'But for 10 years, he's hardly spoken, and now because his contract is up for grabs, he's available to everyone.'
