Dutch pensions industry warns of FTK’s impact on indexation

first_imgIt also pointed out that other elements of pension plans, including contribution levels, the distribution of possible benefit cuts and risks within the investment policy, should be taken into account as well.Pension funds, it said, should be allowed to tackle those elements in a way that best suits them, and calculations of the impact of the new regulations should be made for individual pension funds to see whether their concerns are warranted.ABP, the country’s largest pension fund, said it was still worried about the limited options in the nFTK for indexation of pensions to keep up with inflation.It said it aimed to provide pension benefits that kept pace with the average salary developments in the public and education sectors, although it has yet to calculate the implications of the new rules for its participants, it said.Senior citizen interest groups have also expressed concerns about the limited possibilities for indexation.According to one such organisation, ANBO, the new rules “limit the possibility pensions will be raised to keep up with rising prices”.It added: “It will also become harder to make up for lost indexation incurred in the past.”ANBO director Liane van der Haan said: “Millions of Dutch citizens have seen the buying power of their pensions decrease by 12% over the past six years. In addition, dozens of pension funds have had to cut benefits.“Now the chance of indexation will be further decreased because state secretary Jetta Klijnsma is raising the capital buffer requirements.”The only certainty Klijnsma can offer with the current draft legislation is that younger participants will certainly face lower pensions, and seniors will have less buying power, according to two other senior groups, KNVG and NVOG.Leo Witkamp, director at PNO Media pension fund, criticised the solvency buffer requirements at the annual FD Pension Pro IPN conference last week.He said the nFTK had taken a wrong turn and that, in its current form, it would lead to unchecked buffer accumulation.Regarding the required buffer level, an explanatory note attached to the draft legislation states that the capital requirement will increase from 21.7% to 26.6% on average.Pension funds will not be allowed to grant indexation unless they have a funding ratio of 110% or higher. The Dutch Pensions Federation has said it is pleased pension funds will be given more time to implement the country’s new financial framework regulations but worried the new rules will fail to promote a fairer balance between generations.In its response to the new financial assessment framework (nFTK) submitted to Parliament yesterday, it said the proposal might improve intergenerational balance at the macroeconomic level but not necessarily at the level of individual pension funds.It argued that the “new rules of the game” could actually lead to “skewed” outcomes.The organisation said striking a fair balance between generations was about more than indexation alone.last_img read more

Pollock happy with marathon showing

first_img On his debut in the competition, he finished in 21st place with a time of two hours nine minutes 51 seconds – just shy of his personal best. “It was a very hard race, but I definitely think there’s a lot more there, running in temperatures of 30 degrees can add a couple of minutes to your time,” said Pollock. Ireland’s Paul Pollock finished the World Championship marathon as the second fastest European. “The plan was to run the first half conservatively, go through in about 66, 67 minutes. “I went through in about 67:45, felt fairly comfortable. I was pouring water over myself all the way, but I coped okay with the conditions. “Myself and my coach thought we could be top 10 coming in, but that was unrealistic looking now at all the Africans up front. “21st and second European, though, I have to be happy with that. It’s a step in the right direction.” center_img Press Associationlast_img read more

West Palm Beach officials to break ground on the next phase of the multi-block project

first_imgOn Monday, May 13th West Palm Beach City leaders and construction crews will discuss Clematis Streetscape Phase II goals and project timelines as they break ground on the next phase of the multi-block project. The multiphase project began in 2018 with improvements to the 300 block of Clematis Street and Phase II will include similar adjustments to public spaces on the 100 and 200 blocks of the iconic street.Construction is scheduled to run from mid-May to December of 2019, and is expected to finish just in time for the holidays.Improvements include wider sidewalks with more shade trees, narrowed traffic lanes and a curbless street design, to allow for an easier and more enjoyable pedestrian experience along the award-winning corridor.During the groundbreaking and press conference, Mayor Keith A. James, project coordinators and construction crews are expected to update the public on Phase II goals and timeline for next steps and completion.The Clematis Streetscape project is one of several joint projects between the City of West Palm Beach and the West Palm Beach Community Redevelopment Agency.The project was designed with quality of life at the forefront and to ensure that the City’s downtown core evolves with the needs of residents, merchants, and visitors.For more information on the Clematis Streetscape project, please visit wpb.org/clematis, call 561-822-2222, or plan to attend the public meetings. Tlast_img read more

Rich Hill solid again in second start with LA Dodgers

first_img Newsroom GuidelinesNews TipsContact UsReport an Error “When you think about Rich and Clayton and Kenta (Maeda) and what we have in our rotation, it’s just very encouraging,” Dodgers manager Dave Roberts said, allowing himself to dream. “But obviously most of that is contingent upon Clayton. So we’re trying to take each step with him and build on that. But I think looking forward a little bit – which I think everyone has to do – there’s a little bit of trying to line those two guys up together.“I think if you look at Clayton, Richie and Kenta, those three guys against any three I like our chances. That’s why we acquired him.”The Dodgers have said that far more than Hill has been able to demonstrate it.Inhibited by the blister issues on his index and middle fingers, Hill has made just those two starts since being acquired by the Dodgers at the Aug. 1 trade deadline. But they have each been enticing signs of the front-of-the-rotation force the Dodgers believe they acquired. Hill has not allowed a run in his 12 innings for the Dodgers.Saturday night, he walked the first Padres batter he faced then retired the next 14 in order, striking out six and allowing little in the way of hard contact. He walked another in the fifth inning and finally gave up his only hit of the night with two outs in the sixth inning when Alexei Ramirez singled through the box and into center field. LOS ANGELES >> In his time with the Dodgers, Rich Hill has demonstrated a mastery of one of the rules of show business.Always leave them wanting more.In his second start for the Dodgers — separated from the first by nine days, a rainout and a postponement — Hill took a no-hitter into the sixth inning while holding the San Diego Padres scoreless on the way to a 5-1 victory Saturday night.At the same time on another mound in the Southland, Dodgers ace Clayton Kershaw was dominating some wide-eyed Single-A hitters in a three-inning rehab start for Rancho Cucamonga.center_img “You just tip your hat,” Hill said of the lone hit he allowed in six scoreless innings. “I looked back at it afterwards and he really put a good swing on the ball. There’s nothing you can do about it. Just keep going with that same effort and same intensity. That’s baseball.“You don’t go out there looking to complete a no-hitter or throw a no-hitter. But as the game goes on, each pitch has its moment and the tempo and rhythm of the game plays out. You want to stay in that moment and bring that intensity for every pitch.”Still cautious about overworking Hill’s fingers, Roberts said the left-hander would not have seen the seventh inning even if the no-hitter was still intact. He pulled him after 89 pitches in six innings, leaving the rest to the Dodgers’ bullpen. Reliever Casey Fien surrendered the Padres’ only run in the eighth.“For us, we’re trying to obviously win each game but with his history this season and the blisters we’re really trying to be cognizant of that,” Roberts said. “To give us 89, 90 pitches whatever it is – we’re trying to make sure we’re out of the woods.”Hill’s trade-mate, outfielder Josh Reddick, has been lost in the woods since joining the Dodgers. But he has shown signs of life recently and had his second multi-hit game in his past two starts. Reddick’s three hits Saturday included his first home run (and second RBI) with the Dodgers.“It took long enough to finally get here,” Reddick said. “It felt great to contribute to a win. It’s something I wanted to do for a month now and it finally came.”Reddick’s second hit of the night was the last of five consecutive hits by the Dodgers in the fourth inning against Padres starter Luis Perdomo. Consecutive singles by Corey Seager, Justin Turner and Adrian Gonzalez produced one run then Yasmani Grandal crushed a first-pitch fastball from Perdomo, sending it 440 feet over the wall in straightaway center field.Seager’s hit was one of two singles in the game for the rookie shortstop who snapped an 0-for-19 skid. Prior to this stretch of five consecutive hitless games, Seager had not gone more than back-to-back games without a hit this season.last_img read more

Braves’ Ronald Acuña pulled from game for not hustling on play

first_imgRonald Acuña Jr. has been taken out of the biggest game yet for watching a potential HR turned single. This will be a GOOD LESSON for a young player with TONS of talent. Snitker Cares about Ñ, THE TEAM & sends a message to everyone about playing the game the right way. #ChopOn pic.twitter.com/ysPYnUczfE— Paul Byrd (@PaulByrd36) August 18, 2019He subsequently was thrown out attempting to steal second.Adam Duvall entered the game to replace Acuña in the leadoff spot. Duvall went in to play left field, with Rafael Ortega shifting over to center. Related News Acuña certainly isn’t the first player benched for failing to hustle. But the 21-year-old star’s bat (35 home runs, .913 OPS) and defense more than make up for rare mental lapses in the field. Chris Sale injury update: Red Sox lefty goes on IL, team not sure if he’ll return this year Vladimir Guerrero Jr. injury update: Blue Jays star day-to-day after injuring knee Braves manager Brian Snitker benched outfielder Ronald Acuña in the fifth inning Sunday against the Dodgers, apparently because he failed to hustle on a play earlier in the game. Joey Votto injury update: Reds place infielder (back) on 10-day IL Ronald Acuña Jr. was pulled by Braves manager Brian Snitker seemingly for not hustling out of the box in his last AB(via @FOXSportsBraves)pic.twitter.com/PDJjogFQIY— SI MLB (@si_mlb) August 18, 2019Acuña hit a ball off the wall in the third inning but paused for a few seconds to admire the blast, thinking it was a home run. He was held to a single.last_img read more

Çolak ‘redebuta’, mark and self-expel in 25 minutes

first_imgEmre Çolak He has starred in one of the images of the week in Spanish football. On the day of his debut, the attacker He scored the second goal of Deportivo de la Coruña against Racing de Santander and subsequently, He was expelled for celebrating the goal with the fans of Riazor. The Turk took the ball and, after trimming several defenders, dropped a whip against which nothing Luca Zidane could do. He could have euphoria, given the great goal and how important it was for a team at the bottom of the table, and jumped advertising to hug with followers. After that, Ávalos Barrera showed him the second yellow leaving Deportivo with ten.The soccer player did not give credit to what was happening and He was retiring from the grass making a gesture of apology to the public of the sports fief. Despite having experience in LaLiga, Çolak was not aware that its celebration would have consequences. Three minutes before I had seen the first yellow for a rifirrafe with Yoda.last_img read more