Shock departure at Insignia …

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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

Hernandez closing in on record-breaking LA Galaxy transfer

first_img Promoted ContentBirds Enjoy Living In A Gallery Space Created For ThemWho Earns More Than Ronaldo?10 Dystopian Movie Worlds You’d Never Want To Live InWhat Is A Black Hole And Is It Dangerous For Us All?Who Is The Most Powerful Woman On Earth?10 Risky Jobs Some Women Do8 Things To Expect If An Asteroid Hits Our Planet7 Ways To Understand Your Girlfriend BetterWhich Country Is The Most Romantic In The World?11 Most Immersive Game To Play On Your Table Top8 Best 1980s High Tech Gadgets8 Ways Drones Will Automate Our Future LA Galaxy have revealed they are “serious” about signing former Manchester United striker Javier Hernandez. Loading… Following his £6.5million move from West Ham in the summer, the striker has scored just three goals for them, including one in LaLiga and two in the UEFA Europa League. The signing of Hernandez could, however, offer Galaxy the Ibrahimovic replacement they have been looking for. The Swedish center-forward scored 52 goals in 56 games for the US team but left at the end of last season to try his hand again in Europe. Hernandez won the Premier League twice with United and is Mexico’s all-time leading scorer with 52 goals. While he will face a hard task replicating Ibrahimovic’s incredible goalscoring record, he will arguably be the biggest ticket seller in Major League Soccer. Read Also:Zlatan exit: Javier Hernandez ‘considers LA Galaxy switch’ Playing for the likes of Manchester United, Real Madrid and Bayer Leverkusen, scoring 156 goals in his club career and making 109 appearances for Mexico, Hernandez would bring top-flight experience to the LA Galaxy. FacebookTwitterWhatsAppEmail分享 Club manager Dennis te Kloese is looking for a replacement for Zlatan Ibrahimovic after he headed back to AC Milan. He told Spanish outlet MARCA that the Sevilla forward could be the man. Kloese said: “We are going to try seriously to sign him, it would be a good deal for us.” Having previously mentioned his desire to play in the MLS, the 5ft 7in Mexican is said to be in “advanced negotiations” after meeting with a representative of Galaxy on Monday to discuss an offer over the potential move. Sevilla are said to want £8million for Hernandez, which would force the MLS side to smash the club record £5million they paid Villareal for Giovani dos Santos in 2015. Despite being said to have a good relationship with manager Lopetegui, Hernandez has been struggling for games at Sevilla, having made just 14 appearances in all competitions.last_img read more

Red Wings finally retire Red Kelly’s No. 4 in Detroit

first_imgRed Kelly played for two Original Six franchises, but he’s only one of eight to be honored in the rafters by the @DetroitRedWings. #NHLStats #4ever pic.twitter.com/QDmusWvgYD— NHL Public Relations (@PR_NHL) February 2, 2019Named one of the NHL’s 100 greatest players in history in 2017, Kelly joins Detroit teammates Gordie Howe, Ted Lindsay, Sid Abel, Terry Sawchuk and Alex Delvecchio in having his number raised to the rafters by the Original Six club.”We are honoring a legend, a hero,” Hall of Fame coach Scotty Bowman noted during the ceremony.Kelly’s number is also retired by Toronto, which was the visiting team Friday night. Kelly is one of nine players in NHL history to have their jersey retired by more than one team. Red Kelly’s #4 goes up to the rafters. pic.twitter.com/1RI4vL9ULz— NHL GIFs (@NHLGIFs) February 2, 2019Kelly wore the spoked wheel for 12 1/2 years, netting 472 points in 846 games as a defenseman for the franchise. He won the Norris Trophy as the NHL’s top D-man following the 1953-54 season.”Seventy-one years ago I joined the Detroit Red Wings out of junior and they gave me No. 20 as a number,” Kelly told a packed Little Caesar’s Arena. “I came back the second year and they changed my number to 4 from 20 and I complained. I said, ‘I liked my 20, why are you changing it?’ They said, ‘One number is lighter to carry than two.’ So I thank them, appreciate for the great years we had in Detroit.”  A cantankerous relationship with then-GM Jack Adams ended with Kelly being traded to Toronto during the 1959-60 season. He shifted to center with Maple Leafs and went on to win four of his eight Stanley Cups with that franchise.Kelly was also awarded the Lady Byng Trophy for gentlemanly play four times, three with Detroit. Kelly jokingly told the crowd that the jersey retirement “wouldn’t have happened in the old days under the Adams regime.” It may have taken a while, but Red Kelly’s No. 4 is finally hanging in the rafters in Detroit.Friday night, the Red Wings honored the 91-year-old Hall of Famer and eight-time Stanley Cup champion by retiring his jersey.last_img read more