BAPI applauds doubling of second-pillar membership in Belgium

first_imgAssets in the second pillar reached €70bn by the end of 2012, compared with €24bn in the third pillar.Over 2013, however, Belgian second-pillar pension funds saw a return of 6.7%, a drop on 2012’s 12% growth.The asset allocation in the schemes drew comparisons with the rest of Europe, with 47% in bonds and 36% in equities.Funds allocated around 7% to real estate and 4% to cash, and kept 5% in alternatives such as infrastructure and private equity.Despite overall growth in second-pillar assets and the number of pension funds, assets held in insurance companies still outshone those in funds, according to the assocation.Insurance companies account for more than three-quarters of second-pillar assets, while pension funds account for 54% of the membership.Male pensions coverage took a significant jump in 2008 with the launch of pension funds for the construction and metal industries.However, until 2012, female membership remained relatively low, until the launch of schemes for the non-profit of federal sectors.The association hailed the results as success, highlighting the importance of the second-pillar pensions regime in the country.According to the BAPI, second-pillar growth was essential, since changes to the state pension, in the 1990s, eroded the replacement income Belgians were likely to recieve.It said the growing coverage was a truly democratic approach, reaching all levels of the Belgian working population. The number of members in Belgian second-pillar pension funds has exceeded that of the third pillar for the first time, highlighting the growing significance of occupational schemes.The figures, released by the Belgian Association of Pension Institutions (BAPI), showed second-pillar funds now covered 2.8m people, compared to 2.7m in the third pillar.The representative body’s research on the second-pillar market showed there was now 43 industry pension schemes set up for workers, alongside other corporate schemes and insurance companies.Since 2004, after the Belgian government legislated for the formation of industry schemes that created compulsory membership for those workers, second-pillar pensions membership has doubled, covering 75% of employees.last_img read more

Pensioners sue Euronext scheme for mismanagement

first_imgAn additional contribution of €21m paid by employer Euronext in 2013 could not prevent the pension fund from implementing a 3% rights cut.Mercurius is currently in liquidation. Its pension plan is implemented by Delta Lloyd.According to the FD, among the plaintiffs is former claims lawyer Jeroen Wendelgelst and Rob Sandelowsky, Euronext’s former director of retail and institutional investors.It also reported that the claim was supported by the Association of Euronext Pensioners, which estimated the total damage at up to €50m in a case brought against Euronext in 2013.Although Euronext lost the case, it lodged an appeal. By suing the pension fund and its former chair, the plaintiffs aim to get compensation through their respective liability insurance policies.According to the plaintiffs, the pension fund had at best hedged 20% of its interest rate risk while it was underfunded.The FD said that the plaintiffs had discovered that Mercurius had “knowingly” ignored advice from consultancy Mercer.It added that the plaintiffs suggested that the chairman might have tolerated the failing policy as he was – between 1988 and 2002 – director at Bank Insinger de Beaufort, of which Mercurius was a client.The daily cited Wendelgelst and Sandelowsky as claiming that the bank could not provide interest derivatives and that therefore, the pension fund left the interest risk largely un-hedged.De Beaufort was also trustee at Euronext between 2005 and 2013.The FD quoted Mercurius’s lawyer Erik Lutjes as saying that the plaintiffs’ case was a “non-starter”.De Beaufort and Bank Insinger de Beaufort declined to comment. Three former staff of exchange Euronext are suing their pension fund and its former chairman for damages to their pension rights because of mismanagement, Dutch news daily Het Financieele Dagblad (FD) reports.In the case, which is unprecedented, the plaintiffs claimed that the pension fund Mercurius and its former chairman Rijnhard de Beaufort were negligent in hedging risks.Mercurius was also the pension fund for communication watchdog Authority Financial Markets, Euroclear Netherlands, LCH Clearnet Amsterdam, Atos Euronext Netherlands, and the Dutch Securities Institute.Under De Beaufort’s chairmanship, from 1986 to 2012, the scheme’s funding dropped to 83%, the FD reported.last_img read more

World’s Smallest Island Country Joins IMO

first_imgThe International Maritime Organization (IMO) has welcomed a new member, the Republic of Nauru.On May 14, 2018, Nauru deposited its instrument of acceptance to the IMO Convention with the United Nations depositary – becoming IMO’s 174th member state.With an area of 21 square kilometers, Nauru is the world’s smallest island nation with a population of just under 10,000 inhabitants. This developing country is situated north-east of Australia, some 42 kilometers south of the equator.In a separate announcement, the IMO informed that Monaco has acceded to the IMO treaty covering emissions from ship exhausts and energy efficiency (MARPOL Annex VI).The instrument limits the main air pollutants contained in ships exhaust gas, including sulfur oxides and nitrous oxides, and prohibits deliberate emissions of ozone-depleting substances. It also includes energy-efficiency measures aimed at reducing greenhouse gas emissions from ships.Formally established in 1948, the IMO is the United Nations specialized agency responsible for the safety and security of shipping and the prevention of marine pollution by ships.last_img read more

La Liga reveals plan to restart training in May amid daily tests

first_img Loading… Promoted Content7 Universities In The World Where Education Costs Too MuchA Hurricane Can Be As Powerful As 10 Atomic BombsCouples Who Celebrated Their Union In A Unique, Unforgettable WayThe Funniest Prankster Grandma And Her Grandson5 Of The World’s Most Unique Theme ParksTop 7 Best Car Manufacturers Of All Time7 Theories About The Death Of Our Universe6 Interesting Ways To Make Money With A DroneThe Models Of Paintings Whom The Artists Were Madly In Love WithBest Car Manufacturers In The WorldCan Playing Too Many Video Games Hurt Your Body?The Best Cars Of All Time Advertisement Read Also: Only Messi, two others safe in Barcelona clear-out – report All stages of this process must be approved by the authorities (CSD and the Ministry of Health), with a hope that individual training sessions can begin ahead of group training. The last match in La Liga was Real Betis defeated Real Madrid 2-1 on Sunday 8 March with football in the nation being suspended indefinitely since. FacebookTwitterWhatsAppEmail分享 Spanish football clubs are intent on ending the 2019/20 season and a report in El Mundo has outlined how they plan to complete the campaign. The report claims that there is hope that the players will be able to return to first-team training on or before 10 May and there will be daily tests on every individual for traces of the coronavirus. It is hoped that the remaining league fixtures across the top two divisions will resume at the start of June and that it would be possible to conclude these matches by the end of the month of July. It would be at this point that the remaining European fixtures would be played, with the Champions League final provisionally being staged on 29 August, two days after the Europa League final.last_img read more

Hurst scores first of season at West Liberty

first_imgBy Jerry MackeyWEST LIBERTY, Iowa (May 28) – Jeremiah Hurst scored his first win of the season in the iWire­less IMCA Late Model division Saturday at West Liberty Raceway.Hurst inherited the lead when the no. 39 of Rob Toland developed an engine misfire. Hurst took the lead with less than five laps remaining. Kevin Kile made a late-race charge to finish second ahead of Jonathan Brauns.Larry Herring scored his second consecutive feature win in the Performance Concepts IMCA Modi­fied class. Herring took the top spot from Jerry Luloff on lap 10 and went on to score the 20-lap feature win over Bruce Hanford and Dakota Hayden.Dalton Simonsen took command early and went on to score an impressive feature win in the Weik­ert Iron & Metal IMCA Northern SportMod division. Simonsen led the caution-free main event from laps two through 15. Tyler Soppe advanced from deep in the field to take runner-up honors ahead of Logan Anderson.Nate Wood took the checkers in the Kile Motorsports IMCA Stock Car feature. A late race caution allowed Wood to score the win ahead of Tom Cannon and David Brandies.Defending US 6 Bodyworks IMCA Sport Compact track champion Jason KlerkDereus scored his first win of the 2016 season. KlerkDereus scored an impressive win over Cody VanDusen and Ja­cob Smith.Racing went on as scheduled Saturday despite rain all around the area. Fans were treated to an exciting night of racing with the final checkered waving just prior to the 10 o’clock hour.last_img read more

Dream still on for Alive

first_img Press Association She was denied a run in the Irish Stallion Farms EBF Salsabil Stakes at Navan today when the meeting was abandoned, but is still likely to turn up for the Listed event over a mile and a quarter as the meeting has been rescheduled for May 7. A convincing winner on her seasonal debut at Cork on March 30, the Tommy Stack-trained three-year-old holds lofty entries in the Blue Wind Stakes at Naas next month and the Darley Irish Oaks at the Curragh in July. “She won well in Cork and should have run at Navan on Sunday, but it was cancelled,” Stack’s son and assistant Fozzy told at The Races. “They are going to reschedule that race for a couple of weeks and I would imagine we would probably go there. “She’s a nice filly at the minute and she will have to progress, and we will see where we go. We keep dreaming and for the minute the dream is still alive. “What she does next time will probably tell us where we’re going – whether we are going for an Irish Oaks or something like that, or just going Listed.” center_img Connections of Alive Alive Oh are hanging on to the dream that the filly can go right to the top.last_img read more

Heriage Sports.. Mabaruma males, females in strong contention for football titles

first_img-Volleyball title still wide openSporting action in the 2016 edition of the Indigenous Heritage Sports will culminate today at the Everest ground. In the first of the female Football semi-finals, the Region one Mabaruma side will take on their Region nine opponents,Culvert City, while the second semi-final will see Region 9’s North Rupununi taking on Region 7’s Paurima.On the male end of things, Georgetown is the first team to advance to the semi-finals,with the second team likely to be Mabaruma,who up to press time,held a 3-1 lead over Kamarang.The other two semi-final places would be decided when Port Kaituma (Region 1) takes on North Rupununi, while Moruca (Region 1) was scheduled to do battle with Tabatinga of region 9.And in cricket, semi-final action will see Laluni (Region 4) taking on Santara, while St Cuthbert’s Mission will play Moraikobai in a region 4 versus region 5 battle.Volleyball action is expected to be competitive with several of the regional teams very much in contention for the top prize in both the male and female categories, while the Archery action, which begins at 15:00hrs today,will see 20 males, five females,and four juniors in the finals.This year’s event is being held under the theme ‘Our Culture, Earth’s Future- Save the Environment, live the indigenous way’.last_img read more

Familiar Territory: 1 year after losing the starting position, Nassib is back atop SU’s depth chart

first_img Comments Stepping under center with the first-team offense, Ryan Nassib remembered just how good this felt. As Syracuse opened spring practice March 22, Nassib’s name sat atop the depth chart at quarterback. But the sophomore wasn’t taking anything for granted.‘This year, I have a whole year under my belt,’ Nassib said. ‘I’ve been through a lot with the season. I’ve learned a lot and am executing a lot differently out on the field.’And once the 11-on-11 scrimmaging began on opening day, Nassib started solidifying his hold on the position that was taken from him before the start of last season.In just the first series of action, Nassib took a snap, side-stepped two rushing defenders in the backfield and unleashed a spiral downfield for a perfect 40-yard connection with wide receiver Alec Lemon. Despite drawing chest bumps and high-fives from the rest of the offense — and a raving chorus from the onlooking coaching staff — SU’s 6-foot-3 quarterback remained poised following the play. No high-fives, no clapping. Nothing. Instead of celebrating, Nassib did exactly what coaches have told him all his life and acted like he had been there before. A large part of his reaction was because, in reality, he had been.AdvertisementThis is placeholder textAnointed the starting quarterback in spring practice last spring before losing the job to one-year transfer Greg Paulus once Paulus arrived to campus in August 2009, Nassib still took most of his reps with the first-team offense last March. But a year later, this go-around feels different. Completely different.‘Last year was night and day compared to this year,’ Nassib said. ‘I came in last spring not knowing much, never really competing in practice, didn’t know any of the game situation.’ One year ago, Paulus transferred in for one season, and Nassib’s hold on the position disappeared. Once the fall rolled around, Paulus had entrenched himself as the starting quarterback. Nassib played in nine games, with varying results, and ultimately made as much as he could of his first year on the field.The difference this year, head coach Doug Marrone said, is ‘incredible.’In hindsight, Nassib said he now views last year’s situation as a good thing, a ‘learning experience.’ Though he obviously would have loved starting, he said the experience allowed him to step back and see what was going on out on the field, ultimately improving his game moving forward. And it is also what has given him the resolve to go out and ‘earn’ the job that has already been given to him. He knows all too well there are no guarantees when the fall rolls around.‘He obviously understood the situation last year, and he just worked hard all season knowing that he would have his chance again,’ center Ryan Bartholomew said. ‘And he’s going to make sure this time nobody can take it away from him. ‘You can tell in the way he prepares and the way he knows the offense.’Nassib has been looking forward to the start of spring practice ever since a 56-31, season-ending blowout loss to Connecticut on Nov. 28. With Paulus’ eligibility exhausted, the reigns to the offense are once again in Nassib’s hands. But that doesn’t mean there won’t be competition. Marrone didn’t recruit Nassib. But he did recruit second-string quarterback Charley Loeb and two of SU’s top recruits for this fall, John Kinder and Jonny Miller. And Nassib knows that.So instead of using the short offseason to relax, he instead used it to study up on the playbook, learn the nuances of a newly installed offense and increase his physical preparation, knowing he had to make the most of spring ball. This time, that hold on the position wasn’t going to be lost.‘Every spring there’s going to be pressure, there’s always going to be someone competing for the position you’re competing for,’ Nassib said. ‘And no matter who it is, there’s always going to be pressure. It’s always in the back of your mind. So you’ve always got to play your best because you know the other guy is going to play their best.’Like he did in the fall, Nassib still has Paulus in his ear, serving as what he refers to as a ‘positive reinforcement.’ And even more importantly, he has Marrone tutoring him on the nuances of the newly installed offense. That is what Nassib views as the most valuable benefit of having his head coach as his offensive coordinator.And that, he believes, will make him a better quarterback when the fall rolls around. Starting middle linebacker Derrell Smith has known Nassib can play since his true freshman year. He still recalls Nassib ‘torching’ the starting defense as the scout team quarterback. But after a year under his belt, and some successful in-game experience in tote, Smith is seeing even more this spring.‘He’s a big leader now,’ Smith said. ‘He’s honestly a true leader for us now. When we need a play, we feel like we can look to him and say, ‘Ryan, we need a touchdown,’ and he’ll do it. He’s just got that swagger to him this year.’Linebackers leading defenseLed by Smith, Syracuse returns its core group of linebackers from last season. And during the first week of spring practice, the chemistry of the unit is already showing. Following a Smith interception that was run back for a touchdown on March 24, the defense swarmed the middle linebacker and the chest bumps started. As did the noise.‘We’re out there knowing everything is on us,’ linebacker Ryan Gillum said. ‘Just being around each other and playing together, we have fun all the time, yelling and screaming and getting to the ball. We’re having a lot of fun.’Each time one of the linebackers would get an interception, a big block or a fumble recovery, the chirping started. Smith said that after a year playing together, and a year in the current defensive scheme, they’re just out there having fun.‘Now it’s more like a competitive nature, so we pretty much compete against each other,’ Smith said. ‘After a play we come up like, ‘Yeah, I got that tackle,’ or, ‘Yeah, I got that sack.’ We just go out there and play rather than thinking too much.’Marrone likes what he sees with this group. He said the competitive nature and intensity out on the field has been good for the team, and he’s looking forward to what could be a strong season for the unit.‘They’re all players that have a chance to have honors after the season,’ Marrone said. ‘I just think they’re getting better and better and they feel more comfortable, obviously, than they were a year ago. We’re looking for very productive play out of those positions.’aljohn@syr.edu Published on March 31, 2010 at 12:00 pmcenter_img Facebook Twitter Google+last_img read more

Moving forward key for Ravens in aftermath of Pittsburgh win

first_imgOWINGS MILLS, Md. — The Ravens took a major step forward with a monumental last-second victory in Pittsburgh last Sunday.Their biggest challenge this week will be to avoid taking a step back.The last time the Ravens were coming off a win over the hated Steelers, they went to Nashville and laid an egg against the inferior Titans in Week 2. And following a solid 29-14 win over AFC South-leading Houston, Baltimore was embarrassed in a nationally-televised loss to Jacksonville on Monday night.After sweeping the regular-season series with the Steelers for only the second time in franchise history, coach John Harbaugh has no intention of his football team negating what they’ve accomplished by losing at 2-6 Seattle on Sunday.“It resonates with us a lot, because you’d give one back,” Harbaugh said. “It would still be a division win, it would still be a conference win, but we don’t want to win one then give one back. And that’s going to be true for the rest of the season. Every game we play is going to be the most important game. This is the most important game of the season that we are going to play.”The pressure will lie more heavily on the offense to produce from the start of the game, unlike disappointing efforts in Tennessee and Jacksonville in which they failed to keep pace with the opposition in the first half. The Ravens were held scoreless through the first 20 minutes of the Titans game and failed to even collect a first down in the first 40 minutes of the debacle against the Jaguars.After driving 92 yards for the game-winning touchdown in their final drive against Pittsburgh, the Ravens hope to continue that same success against the Seahawks’ 16th-ranked defense.“It’s going to be our job to get off to a quick start, and we do that by just going and executing and trying to be as efficient as we can,” quarterback Joe Flacco said. “I think as long as we do that, then hopefully we can go put some points on the board early on and try to take all those others factors out of the game as quickly as we can.”Thoughts of the Pittsburgh game were still on display Wednesday as the gathered media was more interested in the aftermath of the Steelers victory than a mundane trip to Seattle to play the Seahawks, who are oddly tied for second place in the division with a 2-6 record and have lost four of their last five. However, after Tuesday’s day off, the Ravens say they’re ready to start the second half of their schedule.“We’re thinking about Seattle now,” Grubbs said. “It’s all about what’s important now. This is a big game. We know what happened in the past, but every week is a new week and there are new opportunities. We’re going to take this game as it is. It’s an important game because it’s next on the schedule, so we’re going to look at it that way.”Lewis and Clark finedAfter a helmet-to-helmet hit on Steelers wide receiver Hines Ward, Ravens linebacker Ray Lewis has been fined a reported $20,000 by the NFL.The collision occurred in the second quarter of Sunday night’s game, and the veteran wideout did not return to action.“They fined me whatever they were going to fine me, but I’ll definitely call it in [to appeal],” Lewis said. “The thing is, you definitely respect them trying to protect players’ safety. But at the same time, it won’t change one way I play this week — no matter what the fine is. You just can’t stop playing defense the way defense has always been created to play.”Meanwhile, Pittsburgh safety Ryan Clark was fined $40,000 for his hit on Ravens tight end Ed Dickson. Unlike Lewis, Clark was flagged 15 yards unnecessary roughness penalty that helped set up a 51-yard field goal by Billy Cundiff to conclude the first half. Clark was also fined $15,000 for an out-of-bounds hit against the New England Patriots two weeks ago.“This time it’s wrong, not that I respected [commissioner Roger Goodell] before this,” Clark told the Pittsburgh Post-Gazette on Wednesday.Lewis was more diplomatic in responding to the fine handed down by the league, but the 16th-year linebacker has expressed frustration in the past over the way defensive players are being restricted in how they do their jobs.“You never want to hurt anybody,” Lewis said. “I’ve been in this business too long, so the last thing you want to do is hurt anyone. I just think once we started getting into these fines — and I don’t know how they come up with the numbers most of the time — just get done with it. Whatever it is, I’ll talk to the league guys and move on from there.”Pittsburgh linebacker James Harrison is also expected to draw a fine for a helmet-to-helmet hit in Sunday’s game.Ball So HardTrending on Twitter for two days following the Ravens-Steelers Sunday night broadcast on NBC, Terrell Suggs’ “Ball So Hard University” introduction created quite the stir.The Pro Bowl linebacker was asked to explain where the reference originated before the Ravens returned to the practice field on Wednesday afternoon.“A lot of guys on this team attended ‘Ball So Hard University,’ including me, myself,” Suggs said. “I’m actually the dean of students, and the president of the school is actually Shawn Carter (Jay-Z), so you all might want to get clearance on that. But, it was just fun.”The phrase originates from the song “N—-s in Paris” by Jay-Z and Kanye West. Suggs was sporting a t-shirt displaying the “school” name, but the linebacker said he is not currently selling the shirts.Perhaps the valedictorian of the fictitious institution should be Flacco after he orchestrated a 13-play, 92-yard touchdown drive in the final minutes to give the Ravens one of their biggest regular-season wins in franchise history. Even the laid-back quarterback got a kick out of Suggs’ institution of higher learning.“I hope everybody on our team can automatically get accepted into that,” Flacco said. “That’s pretty cool. I heard about that, and that’s one of those things I wish I was thoughtful and cool enough to come up with that on my own.”last_img read more

Lakers’ Ingram, Zubac expect to post big numbers in Summer League

first_imgAfter the Lakers evaluate Zubac in a week, he will do whatever rehab required to heal a high sprain in his right ankle. Though he has not finalized his exact schedule with the Lakers’ front office, Zubac plans to return to Croatia to relax with friends and family. He will then soon return to Los Angeles to train at the Lakers’ practice facility. Recently, Zubac has focused on continuously losing weight, sharpening his hook shot and expanding his mid-range game.“Of course, the goal is to win it all. But the goal is to get better chemistry with those guys,” Zubac said of summer league. “Summer is too long. So you have to play some games. It’s going to be good to play some games to get better and get confident for next season.”Though some of the team dynamics hinge on if the Lakers retain their top-three protected pick, Ingram and Zubac will at least play with whoever the Lakers draft with their late first-round pick. Regardless, both Ingram and Zubac sounded confident on a few things.While Zubac plans to expand his game likely even to the 3-point line, Ingram hopes to continue his season-long growth with assuming more ball-handling duties, improving his shot and attacking the basket. Ingram and Zubac also envisioned themselves punishing opponents with their own two-man game.“This summer league will be a lot easier,” Ingram said. “I want to show a big jump in how my game progressed over the year. It’s another big jump this offseason. I’ll try to go in and show a little bit of what’s going to happen next season.”Before that, Ingram plans to continuously focus on his nutrition and weight-lifting to bulk up his listed 6-foot-9, 190-pound frame. Although he has not finalized any plans, Ingram also has aspirations to train with Kobe Bryant on his post play.Because of all that work, Zubac and Ingram vowed they will post up big numbers. While it might not be the ones they boasted about, they sounded confident they will still make Lakers fans as excited as when they guess the right numbers at the roulette table.“We are the first ones in the gym every day,” Zubac said. “With the work we put in, we get more confident and comfortable every day. As much as we work out, we’re going to get better.” As the Lakers’ two youngest players sat next to each other at their respective lockers before a recent game, Brandon Ingram and Ivica Zubac fully realized the mistake of putting all of their chips in how they do in Las Vegas this summer.They will play on the Lakers’ summer league team in July for the second consecutive year, but both stressed their growth hinges more on their offseason training regimen than cashing out big in Sin City.The Lakers (22-55) enter Wednesday’s game against the San Antonio Spurs (59-17) at AT&T Center with Zubac nursing a season-ending right ankle injury and a minutes restriction on Ingram after recently nursing tendinitis in his right knee. But after showing enough growth in their rookie seasons to leave the Lakers optimistic about their long-term trajectory, Ingram and Zubac offered a sneak preview that could Lakers fans believing they hit the jackpot.Ingram boastfully predicted he will average 40 points in summer league while Zubac will average 30. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with Packers“He’ll take a couple of threes, a couple of hook shots and call it a day,” Ingram said of Zubac.Zuabc then interjected, “BI is going to average that easily. Then we’ll call it a day.” Ingram then pointed to Zubac and said “he’s a double-double guy right here; maybe a triple double.”Those would be big numbers, even for summer league. Ingram called his performance in last year’s summer league “OK,” after the Lakers’ No. 2 pick of the 2016 NBA draft averaged 12.2 points on 41.2 percent shooting and 4 rebounds. After the Lakers selected Zubac at No. 32 overall, the Croatian center admittedly did not know what to expect. Then, Zubac quickly became a fan favorite as he averaged 10.6 points on 64.7 percent shooting and 7.2 rebounds.“Last summer league was easy for me,” Zubac said. “I think I’m going to do just fine. There’s a lot of experience. I think next summer league I’m going to dominate.”Before that point, Zubac plans to train extensively to make that happen.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more