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Dutch must slow consolidation, shift to DC to improve pensions – experts

first_imgThe Dutch pensions industry should slow the pace of consolidation and start examining defined contribution (DC) solutions with individual contribution rates seriously if it wishes to prosper in future, according to a group of academics and industry professionals.Speaking in the September issue of IPE magazine as the government begins a wide-ranging, three-month dialogue with the public on the future of the pension system, the panel questioned whether the Dutch approach to solidarity could endure and warned that beneficiaries faced a decade without indexation due to proposals contained within the new financial assessment framework (FTK).Alfred Slager warned that the current emphasis on consolidation, triggered by regulator De Nederlandsche Bank’s insistence on minimum standards for board members and solvency requirements, could cause problems.The professor of pension fund management at Tilburg University accepted that a minimum pension fund size was “a good, efficient thing to have”. “However,” he said, “without a clear vision on consolidation, the sector might drift towards an outcome with unintended consequences: a small number of pension funds managed like large financial institutions, potentially stifling much needed innovation.”The academic also warned that consolidation could introduce macro-economic risk into the pension system, akin to the risks seen in the insurance and banking sectors.Hans Rademaker, member of the management board at asset manager Robeco, identified other problems stemming from the new FTK.According to him, the proposals are “more of an evolution, rather than the necessary revolution”.He said there was a need for more clearly defined ownership rights for members, and that the way forward should be “a blend of the best” of DC and defined benefit (DB) systems, allowing individual accrual but also risk-pooling when the beneficiary begins drawing down entitlements.Meanwhile, Keith Ambachtsheer, director emeritus at the Rotman International Centre for Pension Management, argued that the problems were the result of “the Dutch tendency to love ‘solidarity’ too much”.He said younger generations would reject the current system and oppose the “faux solidarity” resulting from the need to underwrite the risks of older generations.However, he said he was hopeful change was possible.“Managing [a] transformation will require strong leadership,” he said. “I am betting it will emerge soon.”PGGM’s head of strategic consulting, Erik Goris, said he viewed the system’s biggest problem as its social sustainability, as job mobility and a greater desire for freedom of choice grow in importance.“A culture change is needed, and we will help ourselves greatly if we dare to think in terms of a DC-type of solution,” he said.“Indeed, such a system answers better to today’s social questions.“Preserving the current system’s benefits of collectivity and risk sharing will be the challenge.”Goris also warned that the revised FTK brings with it increasingly complex rules to ensure pension promises are sustainable, and said that, as a result, pensions will become more complicated to explain.Additionally, the increased security of the FTK will lead to prolonged periods without indexation, as the security to preserve purchasing power will “prove unaffordable”, according to Peter Borgdorff of healthcare scheme PFZW.“As a result, the participant will end up paying for the government’s plans by means of a structurally lower pension,” he said.For further expert opinions on the Dutch pension system, see the current issue of IPE magazinelast_img read more

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Throw away the lawnmower when you move to this home

first_imgThere is an open plan kitchen, living and dining area.Given the fact that the property was only recently built, there was not much for the couple to do, but they did extend the back deck and the roof above it.This area is now one of Mrs McClure’s favourite spaces at the property.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019“It’s got surround sound speakers throughout, so its nice to sit out there and have the music on in the background,” she said.“It’s also good for entertaining.” The media room.The vendor believed the house would suit multiple buyers.“It could suit either a young couple or an elderly couple as everything is walking distance and it has got a bus stop out the front.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 6:04Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -6:04 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenFebruary: Brisbane CoreLogic RP Data market update06:05 There is a walk-through wardrobe in the main bedroom.Most of the house is tiled, with some of the bedrooms carpeted.Development of Yarrabilba began in 2010 and the community continues to blossom.Last year Yarrabilba State School opened and there are fortnightly night and Sunday markets.“It’s an up-and-coming community,” Mrs McClure said.“It is convenient, with coffee shops and walking tracks.” The design of the house includes a neutral colour palette.“We were attracted to the fact it was low-maintenance — there is no mowing or anything to be done,” Mrs McClure said.It was an ex-display home but had obvious appeal, with luxury inclusions such as ducted airconditioning, built-in speakers and a soaker tub.center_img The house at 14 Vantage Lane, Yarrabilba, is for sale.SPEND next to no time gardening and more time enjoying life with the family.The low-maintenance lifestyle of the house at 14 Vantage Lane, Yarrabilba, was what drew Carol and Nigel McClure to it when they bought it more than two-years ago. The back deck is one of the vendor’s favourite spaces at the property.There are four bedrooms, with separation between the main bedroom and the others. The master has a walk-through wardrobe behind the bed and an ensuite with a double vanity, shower and separate bathtub.last_img read more

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Gold Coast house sells a day after hitting the market

first_img More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:35Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:35 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenFive things to consider when buying into a regional area01:35 A family who moved from Sydney snapped up the home. They had plenty of competition with multiple offers made at the open home.“It went live on Friday and we had 37 groups through the first open home (on Saturday),” he said.“The deal was done in 27 minutes.”Mr Harrison wouldn’t reveal the sale price but said it was higher than the $969,000 asking price.He said it was a cash unconditional offer with the cooling off period waived.“The buyers are really happy, they just moved up from Sydney (and) they’ve been looking for a couple of months,” he said.“There were actually some other offers that were higher but the terms of theirs were more favourable for the seller.“(The vendors) purchased elsewhere as well so they just wanted it to be an easy transaction.” MORE NEWS: Gold Coast auctions raking in millions The Mudgeeraba house at 9 Bertana Drive sold a day after being listed.AN open home quickly turned into a bidding frenzy when several house hunters made on-the-spot offers for an acreage estate.The Mudgeeraba property at 9 Bertana Drive, which was listed a day earlier, sold less than half an hour after it was opened to the public.Kollosche agent Jamie Harrison, who handled the deal with Corey Bedford, said ensuring the property was well prepared and presented to make buying easy made people feel confident enough to make an offer on the day. MORE NEWS: Fun feature will make the best pool parties It sold for more than the $969,000 asking price.The 0.41ha property has a two-storey house with four bedrooms and two bathrooms, a pool and shed.Property records show it last sold in September 2005 for $455,000.Mr Harrison said its location made it particularly appealing to prospective buyers.“(The vendors) had extensively renovated it and it had a really amazing street presence,” he said.“It was almost like a tropical oasis, which is quite unique in the sense that you’ve five minutes from Robina.”He said lower listing numbers were also causing house hunters to flock to quality properties.last_img read more

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Napoli beat Inter Milan to close in on Italian Cup final

first_img Loading… Conte sent on Cristian Eriksen after 65 minutes and the Dane threatened but David Ospina held firm in the Napoli goal. Napoli, who last won the trophy in 2014, now take a slim advantage into the second leg at their Stadio San Paolo on March 5. “The derby certainly took away a lot of energy,” said Conte. “But we’re talking about Napoli, who beat Lazio, Juventus, Liverpool. “It’s a team of substance despite its position in the standings.” Read Also: Inter Milan delay offering Emiliano Viviano contract Record 18-time winners Juventus take on AC Milan in the other semi-final on Thursday, again in the San siro. The match will be the first clash in Italy between Juventus star Cristiano Ronaldo and Sweden’s Zlatan Ibrahimovic. The final will take place in the Stadio Olimpico in Rome on May 13. FacebookTwitterWhatsAppEmail分享 Fabian Ruiz scored the only goal as Napoli shocked Inter Milan 1-0 in their Italian Cup semi-final, first leg tie at the Stadio Meazza on Wednesday. The Spanish midfielder broke through after 57 minutes to get Gennaro Gattuso’s side back to winning ways after their 3-2 league defeat at home to lowly Lecce last weekend. Fabian Ruiz (L) scored to give Napoli a 1-0 win over Inter Milan Ruiz picked up a Giovanni Di Lorenzo cross, beating three Inter defenders to curl in past a helpless Daniele Padelli. “This is the real Napoli. Big compliments to my lads,” said Gattuso, whose side are 11th in the Serie A table. But he warned: “There’s no reason to smile, we still haven’t achieved anything yet.” Antonio Conte’s side looked sluggish days after their thrilling 4-2 derby win over AC Milan which put them top of the Serie A table. Both sides had their chances in the first half with Lautaro Martínez nodding wide with Padelli denying Piotr Zielinski just before the break in front of a crowd of nearly 60,000 in northern Italy.last_img read more

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Donald E. “Buck” Meyer

first_imgDonald E. “Buck” Meyer, age 62 of Batesville, died Monday, April 4, 2016 at his residence.  Born April 3, 1954 in Batesville, he is the son of Alice (Nee: Stevens) and Paul “Pete” Meyer.  He married Jenny Osier September 13, 1980 at St. Anne’s Church in Hamburg.  Buck was the owner of Kraftsman Homes Incorporated and a member of St. Louis Church and the Knights of Columbus Council #1461.In his younger days, Buck played softball on a team from Brookville which was one of the best in the area that traveled the state.  As father time began to catch up with him, he traded his ball spikes for golf spikes and became an avid golfer.  He looked forward to a yearly golf trip to Myrtle Beach with several friends.  South Carolina was a favorite spot for family vacations as well.  The family’s favorite destination was Kiawah Island and there is a story that on one occasion the car broke down.  Jenny and the kids are on the side of the road with bags in hand waiting for help, while Buck would periodically slip into a nearby hotel lobby to check the television for updates on the Brickyard 400 race.  Other interests including following the Reds and Bengals, enjoying a beer with his nephews or friends and according to his family Buck loved to read, with westerns and James Patterson novels among his favorites.  Family was important to Buck and the recent birth of McKenzie, his first grandchild, stole his heart.He is survived by his wife Jenny; daughters Jessica Meyer of Covington, Kentucky, Emily Zins of Sunman, Indiana; granddaughter McKenzie Zins; sisters Paula Bohman of Hamburg, Diane Rynn, Patricia Kaiser and Cynthia Ziemke, all of Oldenburg and brothers Richard of Oldenburg, Kenny of Batesville, Robert of Jeffersonville, Indiana, Gary (Butch) of Batesville, as well as numerous nieces and nephews.  In addition to his parents, he is also preceded in death by his brother Steven.Visitation is Friday, April 8th, from 4 – 7 p.m. at the Weigel Funeral Home.  Funeral services are 10 a.m. Saturday, April 9th at St. Louis Church with Rev. Stan Pondo officiating.  Following services, it was Buck’s wishes to be cremated.  The family requests memorials to the Batesville E.M.S. 10 or the McKenzie Zins College Fund.last_img read more

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Community Message: More Crashes Happening; Be Prepared for Tonight’s Weather as Freezing Road Conditions are Anticipated

first_imgIndianapolis – While southern Indiana may have basked with temperatures in the mid 60’s, it has been a different story for the central northern portions of Indiana.  Since starting our tally of calls yesterday evening at 10:00 p.m. through 2:00 p.m. this afternoon, the Indiana State Police has responded to more than 380 property damage crashes, more than 60 injury crashes and a total of two fatal crashes.  We have also responded to over 150 slide offs as well as more than an additional 150 motorist assists. Now, as we look at weather forecasts calling for freezing rain in central Indiana, we urge the public to heed the warnings and to not travel unless there is a dire need involving some type of legitimate emergency.State Police, as well as city and county police agencies across central Indiana, along with emergency medical personnel and State Highway personnel, will be responding to calls for medical emergencies, injury crashes and crashes that involve lane blockage and road closures throughout central Indiana over the next 12 to 24 hours.Please remember, If involved in a minor crash where the vehicles are still drivable, state law requires they be moved to a safe area off the road.  Once moved, exchange information with the other involved driver and take photos for your insurance company.  State police and other law enforcement agencies will not respond to property damage crashes during extreme weather conditions.If you have to drive due to an emergency, or you choose to ignore the warning to not travel, then you should ensure the following:Your vehicle is in good mechanical conditionYour vehicle has a full tank of fuelYou have a charged cell phone and are capable of keeping it charged in your vehicleYou inform friends and family of your route of travel and expected arrival time and keep them informed if you are delayedYou should have an emergency kit in your car inclusive of at least these items:Non-perishable foodA candle, matches or lighterShovel and abrasives such as driveway salt or sandExtra clothing and blanket or sleeping bagEmergency road side triangles, fuses or other emergency lighting device It is not possible to “over prepare” for an automobile trip, no matter the distance, when weather conditions are expected to be extremely adverse, as recently forecasted.Finally, please do not call the state police posts or other police agencies to ask about road conditions. The best source for local road and weather information is your favorite TV news or radio station.  Odds are that just looking out the window of your home will give you a good idea of your local conditions.Additional winter preparedness tips for Hoosiers can be found at http://www.in.gov/dhs/3311.htm. Road conditions are accessible at http://indot.carsprogram.org/main.jsf. For up-to-date county travel statuses, Hoosiers are encouraged to visit http://www.in.gov/dhs/traveladvisory/.last_img read more

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Roosevelt Bridge Reopens to Traffic in Stuart as Repairs Continue

first_imgThe FDOT is designing a permanent repair for part of the southbound bridge. The design process is expected to take six weeks, after which a contractor will be selected to make the needed repairs.After the bridge closed on June 18, an inspection found severe corrosion had ruptured the steel tendons that supported the first span of the southbound bridge. The Roosevelt Bridge in Stuart reopened to traffic Saturday morning.For now, there are four lanes of traffic, two in each direction.The Florida Department of Transportation has placed a 5-ton weight restriction for all vehicular traffic crossing the bridge, which was temporarily closed earlier this month when chunks of concrete fell from the underside.Law enforcement officials are now monitoring both ends of the bridge.Courtesy: City of Stuart/FacebookFlorida East Coast Railway trains that pass under the bridge are able to resume their normal speeds now that a temporary bridge support has been completed.Construction has started on the widening of Dixie Highway under the bridge. That project is expected to be completed in about a week, and includes the removal of existing curbs and sidewalks to reconfigure the highway.A @MyFDOT contractor is water blasting to remove striping for the reconfiguration of U.S. 1. Work on U.S. 1 must be completed before northbound #RooseveltBridge opens to 4 lanes of car traffic this weekend. @CityofStuartFL pic.twitter.com/6m7V6QVtgz— FDOT District 4 (@MyFDOT_SEFL) June 25, 2020last_img read more

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Other Sports Asian Games 2018: Steeplechase runner Naveen Dagar fails dope test

first_imgNew Delhi: Indian steeplechase runner Naveen Dagar has been suspended from the upcoming Asian Games 2018 after he failed a dope test in what is being termed as a massive blow to the country’s medal hopes.Dagar, who bagged a bronze medal at the 2014 Asiad, was tested positive for banned meldonium, as per reports.The National Anti-Doping Agency (NADA) carried out the doping test, when the 30-year-old was participating in an inter-state competition in Guwahati.ALSO READ: Saina Nehwal bows out from World Championships as Marin advances”Yes, Dagar was suspended on July 23. Meldonium was found in his sample. Though a B Sample report is awaited,” a leading press agency quoted an anonymous source.”It is disappointing because he was a medal hopeful and India will now go unrepresented in the 3,000 metre race.”The Athletics Federation of India (AFI) made no official comment on the issue, but the AFI’s president Adille Sumariwalle took to Twitter on Thursday and wrote that there would be ‘zero tolerance on doping’.ALSO READ: Twitterati bow down to King Kohli after he smashes 22nd Test ton”AFI has always said that in national camp athletes are tested every few days and if they are stupid to dope they WILL get caught. Hence the extra smart ones either don’t dope or avoid camp,” he said. “The FIGHT is ON.”Meldonium is a substance that boosts energy and endurance power.Russian tennis superstar Maria Sharapova was tested positive for meldonium in 2016 and was banned for two years.ALSO READ: Sachin Tendulkar used to sleepwalk at night, reveals Sourav GangulyDagar’s suspension comes weeks after javelin thrower Amit Kumar failed a similar test in Finland. However, Kumar is not a part of Asian Games team after failing to qualify.A 540-plus India squad is expected to fly to Indonesia for the Asian Games 2018, which is scheduled to begin from 18th August. For all the Latest Sports News News, Other Sports News, Download News Nation Android and iOS Mobile Apps.last_img read more

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Tennis News Andy Murray announces Wimbledon could be his ‘last tournament’ in tearful press conference

first_imgThe Scotsman, who won Wimbledon in 2013 and 2016 and also the US Open in 2012, has stated that he thought about the possibility of undergoing a hip resurfacing operation. He added that this was a serious consideration not because he wanted to play professional sport but because he could have a better quality of life. Murray admitted that returning back from such an operation is not a guarantee that he can come back stronger in the high demands of professional tennis.Great careerAndy Murray eliminated 76 years of pain for British Tennis when he won the 2012 US open title, making him the first player from Britain since Fred Perry in 1936 to clinch the title. Murray defeated Novak Djokovic 7-6,7-5,2-6,3-6,6-4 and Britain had finally found a new star. However, it was his victory in 2013 Wimbledon, where he became the first player from Britain to win the title after 77 years, gave him cult status. Djokovic was once again the opponent in the final and Murray won6-4,7-5,6-4. The victory evoked memories of how Andy and his brother Jamie had survived the 1996 Dunblane school massacre in which 16 children were killed by Thomas Hamilton.Speaking about the incident in Radio Times and carried on The Guardian, Murray’s mother Judy Murray had spoken about how he and his brother survived. “Andy’s class had been on their way to the gym. That’s how close he was to what happened. They heard the noise and someone went ahead to investigate. They came back and told all the kids to go to the headmaster’s study and the deputy head’s study,” Judy said.After winning the 2013 title, Murray clinched Wimbledon again 2016 and he climbed to the No.1 ranking. Murray also became the first British player to win two Olympic gold medals in singles event but his downward spiral began with the hip injury. For all the Latest Sports News News, Tennis News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Andy Murray, considered to be one of the best players Britain had ever produced, has stunned the Tennis world by stating that the Australian Open could potentially be his last tournament and that he plans to retire this season. In a tearful and emotional press conference before the start of the 2019 Australian Open, Murray admitted that he was in pain and he wants to continue playing till Wimbledon but is unsure of whether he can go the distance. Murray has been troubled by a hip injury for the last 20 months and said he was ‘not feeling great’ before the start of the tournament.“In the middle to end of December, during the training block, I spoke to my team, and I said ‘I can’t keep doing this and I need to have an end point.’ It was just playing with no idea of when the pain was going to stop. I said to my team ‘Maybe I can get through this until Wimbledon’ – that was where I would like to stop playing. But I am also not certain I am able to do that,” Murray broke down when saying those words.Read More | Federer, Djokovic aim for seven-star performance in AustraliaMurray is scheduled to face Roberto Bautista Agut in the first round and although he is scheduled to play, Murray admitted that he may not have that same intensity as the pain is too much and that this could be his last tournament. “I can still play to a level. Not a level that I am happy playing at. I think there’s a chance of that for sure. Because I am not sure I am going to be able to play through the pain for the next four or five months,” Murray admitted.Read More | Rafael Nadal to miss Brisbane tournament due to thigh injurylast_img read more

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The Latest: Norway to lift travel ban for soccer match

first_img Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The Norwegian government says it will make an exception from its travel ban to accommodate a Nations League soccer game against Austria on Sept. 4 in Oslo. Culture and sports minister Abid Q. Raja says “we make this exception to ensure that both teams can field a full crew.”Raja adds “this is not a general exception … this is an exception for this match.”Norway captain Omar Elabdellaoui and striker Alexander Soerloth both play in Turkey.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports The Latest: Norway to lift travel ban for soccer match August 24, 2020last_img read more