Top five Dutch schemes ride equity rally to boost funding levels

first_imgThe latest figures became evident as industry schemes PFZW, ABP (civil service), PMT, PME (both metal) and BpfBouw (construction) published their annual and quarterly reports. Not only did the funds generally benefit from higher share prices, they also benefited from interest rates rising. Although the interest rate fell slightly in the last quarter of 2017, the discount rate for liabilities rose from 1.3% to 1.5%.Despite the boost to funding levels, only BpfBouw was able to increase its pensions for this year, as its funding level was above the required 110%. The scheme decided to index pensions by 0.59%. The other funds are damping expectations when it comes to indexing or averting cuts.“In all likelihood we will not be able to increase pensions much, if at all, in the coming five years,” ABP chair Corien Wortmann wrote in a press statement.“At the end of 2019 our scheme’s policy funding ratio has to reach at least 104.3%,” PME chairman Eric Uijen said. “We are not there yet. For this reason we cannot rule out pension reductions in 2020.”PFZW also warned of possible cuts if their policy funding ratio remained below 104.2% until the end of 2020.The differences in investment returns appeared to be large, with the lowest return almost half the amount of the reported highest return.With a 4.1% return PMT achieved the lowest result. ABP saw its assets grow by 7.6%. Interest rate and currency hedges have been included in these figures.ABPThe civil service scheme – the largest pension fund in Europe – showed the biggest increase in its policy funding ratio. It rose by almost 10 percentage points to 101.5%, mainly due to the returns on shares and real estate. Its total assets were worth €409bn at the end of 2017.PFZWThe healthcare workers fund booked a return of 5.1%. PFZW suffered losses on its insurance portfolio (-13.3%) due to the severe hurricanes hitting the US last year. The scheme also had to write off millions on structured loans, following an adjustment of the valuation model.BpfBouwBpfBouw’s assets increased by €3bn due to a return of 6.4%. Equities accounted for 10.9% and real estate for 9.9%. BpfBouw invests a relatively large portion of its capital (17%) in real estate. The scheme lost 1.2% on its interest rate hedge. The policy funding ratios of the Dutch pension schemes for metal workers PMT and PME have risen above 100% for the first time in years.Other large pension funds in the Netherlands also reported a boost to their policy funding ratios, mainly due to rising equity markets.The policy funding ratio is the 12-month average funding level upon which Dutch pension funds must base their policy decisions – in particular whether they can grant inflation-linked uplifts. Healthcare sector scheme PFZW was the only one of the Netherlands’ top five with a policy funding ratio below 100%, recording 98.6% at the end of December. Metal industry schemes PME and PMT hit 100% funding in 2017PMEPME recorded a return of 4.7%. The scheme achieved a 15.3% return on shares, and 7.3% on real state. The matching portfolio, which accounts for almost half PME’s assets, lost 2.8% of its value.PMTPMT showed an outcome comparable to that of PME, although this pension fund achieved somewhat lower returns on equity and real estate. On the other hand, the losses on its matching portfolio were as high as PME’s, resulting in a lower return overall (4.1%).last_img read more

Dolan unsure of future beyond weekend

first_img McDermott’s three-year tenure was ended, along with his assistant Nigel Gibbs, by Reading owner Anton Zingarevich following a four-game losing run that has left the club above last-placed QPR on goals scored only. With nine games remaining there is little time to find a replacement, with former Southampton boss Nigel Adkins and ex-Swindon manager Paolo Di Canio installed as the early favourites to take over. Dolan fronted the media for the first time on Thursday and, as well as refusing to be drawn on who might be tasked with leading the club’s relegation fight, he also said he did not know if a new appointment was likely to be made before the next trip to Arsenal on March 30. Dolan denied Zingarevich would play a part in picking the team for this weekend’s trip to Old Trafford – albeit after a long pause – adding: “Obviously not. He’s asked me to pick the team. “He’s talked to me about the team and trying to get a result – genuinely that is all he has said. I’m excited about going to Old Trafford. Really excited about that.” Dolan has been in regular contact with McDermott since he was axed and revealed the former boss had a simple message for the squad ahead of the trip to Old Trafford. “Brian is a great friend of mine. I’ve spoken to him each day,” he said. “He’s a great man. All he has said is: ‘Good luck, get a result’. All he wants is for Reading to get a result.” Dolan, formerly the head of the Royals’ academy, was handed the temporary reins after Brian McDermott was sacked on Monday. “It’s been a difficult week for everybody,” Dolan said. “The players were on the floor at the start of the week. The owner has asked me to take the team on Saturday. That’s my only thought. That’s the honest answer.” Caretaker manager Eamonn Dolan is unsure whether he will remain in charge of Reading beyond this weekend’s trip to Manchester United.center_img Press Associationlast_img read more

Johnson rues late slip-up in China

first_img Despite also making a double-bogey on the 10th, Johnson stood on the 18th tee with his five-shot halfway lead intact thanks to a front nine of 30 for the second day running and four more birdies in succession from the 13th. However, the big-hitting American then drove into the water down the right-hand side of the par-five 18th and found a greenside bunker with his fourth shot, eventually signing for a seven and third-round 66 to lie 18 under par. Defending champion Ian Poulter is Johnson’s nearest challenger after a superb 63, with Ryder Cup team-mate Graeme McDowell a shot further back following a 64. US Open champion Justin Rose, first-round leader Rory McIlroy and Canada’s Graham DeLaet are all six off the pace on 12 under, Rose and DeLaet shooting 65 and McIlroy returning a 67. Germany’s Martin Kaymer is 10 under after setting a new course record with a flawless 62. “I’m still a little mad from my double-bogey on 18,” Johnson told a press conference at Sheshan International Golf Club. “Obviously to have a three-shot lead going into the last day is good and I am looking forward to the challenge. I still have to play really well. “The guys that are right behind me, they are playing very well, too. So it’s still going to be a tough day tomorrow. I’ve got to come out and make a lot of birdies. “If you told me teeing off I would shoot six under I would have taken it, but I obviously left a few shots out there. I’m definitely happy with what I shot. Obviously I’m just not happy with the way I finished. “Making two doubles, there’s no excuse for that. Especially the way I’m playing right now, it shouldn’t happen. But 66 is still a good day and I did make 10 birdies, so I hit a lot of great shots.” Poulter, looking to become only the second player after world number one Tiger Woods to defend a WGC title, had charged up the leaderboard with five birdies in a row from the third and another on the ninth to be out in 30. The Ryder Cup star also birdied the 10th, but Johnson was producing some equally impressive figures, picking up a shot on the third and then making five birdies in a row from the fifth to match Poulter’s outward score. Dustin Johnson admitted he was “a little mad” with himself after a double-bogey on the last reduced his lead to three shots heading into the final round of the WGC-HSBC Champions in Shanghai. However, the seven-time PGA Tour winner then made a complete mess of the 10th, coming up short of the green with his approach and twice seeing his pitch to the green fail to get to the top of a steep slope and roll back to his feet. His third attempt clattered into the pin and in the end he did well to hole from 12 feet to limit the damage to a double-bogey six. When Poulter then holed from 20ft for an eagle on the 14th the gap was suddenly down to one, but Johnson responded once more with birdies on the 13th, 14th, 15th and 16th. Poulter three-putted the 17th for his only bogey of the day but birdied the last to remain firmly in the hunt for the first prize of just over 1million euros (£856,000). “Nine under par on any golf course is a good score and that was a good nine under par,” Poulter said. “I guess the only blemish for me, which leaves a bit of a sour taste, was three-putting 17, and actually missing a couple of opportunities. “As silly as it sounds when you make eight birdies and an eagle, there were putts on one, two and eight that I could have made and a few others.” McDowell will certainly not have given up the chase, the Northern Irishman winning the 2010 US Open after Johnson squandered a three-shot lead in the final round with a triple-bogey on the second hole and double-bogey on the third at Pebble Beach. Johnson shot a closing 82 and McDowell’s 74 was enough to win by one from France’s Gregory Havret. “Bizarrely, I really haven’t got it going on the greens yet this week,” said McDowell, who carded six birdies and holed out from a greenside bunker on the short par-four 16th for an eagle. “I made a couple today and it was bit of a bonus with the bunker shot on 16. I haven’t holed a lot of putts, though, so hopefully I’m saving it for tomorrow.” Having started from the 10th, Kaymer had a chance at recording the first 59 on the European Tour when he stood 10 under par with three holes to play, but was unable to find any further birdies. “I’ve shot 59 before (on the European Professional Development Tour in 2006) and I thought there’s a chance, especially after my birdies on four, five and six,” the 29-year-old said. “You have three holes to go and you need three birdies. “I had a good chance on seven but then I went for the green on eight but got in the bunker and had an unlucky lie. I had another chance on nine but you can’t make them all. It was definitely in my thoughts. It would be nice to shoot 59 twice.” Perhaps giving Johnson a subtle reminder of what happened at Pebble Beach, McDowell added: “From here it looks like Dustin is going to have to beat himself for anybody to have a chance to catch him.” McDowell is currently second in the Race to Dubai, 443,725 euros (£378,666) behind Henrik Stenson and added: “Race to Dubai points will be very important to me; I have a lot to play for tomorrow. If not the trophy, second place will certainly be worth my while tomorrow.” Press Associationlast_img read more

MC Mary Kom hits out Olympic medallist Abhinav Bindra over his tweet

first_imgShe also said that Bindra is an Olympic gold medallist but she too, has won multiple golds at World Championships. “I know a lot about boxing but not much about shooting which is why I would not comment on shooting. Similarly, Bindra does not know anything about boxing and hence, he should stay out of it. This is not his business, to involve in boxing, to interfere,” she added. READ | Nikhat Zareen Writes To Sports Min Kiren Rijiju, Demands ‘fair Trial’While speaking to Republic TV, Mary Kom also said that she had won eight World Championship medals, including six golds and that she was shocked by all of this. When queried about Nikhat Zareen’s challenge for a fair trial, she said, “Who is she?  Let the Boxing Federation of India decide whom they want. How can she cry like this? She cannot lobby to get a place in the Indian team. This is not done.”READ | Mary Kom Leads India’s Quadruple Challenge In World Championship SemisNikhat’s letter to Sports MinisterIn the letter addressed to the Sports Minister, Zareen gave a brief background of her victories in the past and then alleged that on August 6 and 7 when she arrived in Delhi for the World Championship selections, the selections were cancelled and Mary Kom was sent. In her letter, she also said, “After this decision, the BFI announced that gold and silver medallist will be exempt from the Olympic trials. Today, I have reliably been informed that the rule is now being changed again to accommodate my senior, Mary Kom as the candidate without a trial.”READ | Manju Rani Rewrites History With A Silver On World Championship DebutREAD | “Who Is She?” Mary Kom Lashes Out At Challenger Nikhat Zareen 10 months ago “Its high-time the rules in boxing changed”: MC Mary Kom First Published: 19th October, 2019 22:05 IST 10 months ago “Cheating against Mary Kom; Conspiracy against India”: Sushil Kumar “They have got together to conspire against me”: Mary KomMary Kom, who recently bagged the bronze medal at the World Championships, said that she had immense respect for the champion shooter but it’s better if he stayed in his sports only. “I agree that Abhinav Bindra is a great shooter. But my message to him will be to stay within his sports only and not interfere in other sports. I know exactly what is the link. Its the JSW link. They have now got together to conspire against me,” she alleged. FOLLOW US Jitesh Vachhatani 10 months ago Mary Kom forced to “settle” for bronze, Manju Rani reaches WC final SUBSCRIBE TO US Last Updated: 19th October, 2019 22:05 IST MC Mary Kom Hits Out Olympic Medallist Abhinav Bindra Over His Tweet Mary Kom on Saturday responded to Abhinav Bindra’s tweet by saying that boxing was not his business to interfere and that it is better for him to stay quiet LIVE TV WE RECOMMEND 10 months ago Exclusive: Nikhat Zareen replies to Mary Kom’s “Who is She” remark Celebrated Indian boxer MC Mary Kom on Saturday responded to Olympic medallist Abhinav Bindra’s tweet by saying that boxing was not Bindra’s business to interfere in and that it is better for him to stay quiet on boxing. This comes after Nikhat Zareen had written to Union Sports Minister Kiren Rijiju demanding a fair trial for the 2020 Tokyo Olympics after which Bindra had re-tweeted Zareen’s tweet and said that, “an athlete’s life is offering of proof.” Zareen, in her letter to the Sports Minister, also alleged that the selection for World Championships was anonymously cancelled and Mary Kom was sent without any selection.  Written By 10 months ago “Mary Kom is destined to win Tokyo Olympic gold”: Akhil Kumar WATCH US LIVE COMMENTlast_img read more

Help wanted: Construction I-II-III Road and Bridge job

first_imgHelp wanted: Construction I- II-III – Road & Bridge$8.75 – $21.02 per hour Non-exemptHigh school diploma or GED equivalent.  Must obtain and maintain a valid class “A” Commercial Driver’s License within three (3) months of employment.  2-5 years of construction and /or road maintenance work experience required or a comparable combination of education and experience. Much of the work is done outdoors in adverse weather conditions.  Successful applicant will be drug tested.Apply online at www.HRePartners.com  Applications close 11/13/2015.  Job description available, contact Sumner County Clerk’s Office, ph 620 326 3395. EOElast_img read more

DONEGAL BOY’S DONATION STILL BRINGING LIFE TEN YEARS ON

first_imgWhen young Ballyshannon boy Ronan McGee died, his family family decided to donate many of his organs so that others could receive the gift of life.Here, in an emotional tribute to her younger brother, BBC journalist Elaine McGee reveals the sense of peace her family has received from making that decision. “It’s 10 years since my brother Ronan died at the age of 15. “His coat still hangs on the banister at the bottom of the stairs in the house we grew up in, just as he left it.“His posters, pictures and basketball medals are still on the walls of his bedroom. Two guitars and his school bag are there in the corner. Just as he left them.“Ronan died in March 2002 after having a brain aneurysm – a weak spot on a blood vessel which if ruptured, can prove fatal.“He had suffered an aneurysm once before as a young child, but had made a full recovery following treatment, with an optimistic assurance of a very slim chance of it ever happening again. “I was meant to be away at a birthday party the weekend it did happen again.“Instead, a typically broke student, I stayed at home and spent the day with my little brother.“The last time I saw him alive was when I left him sitting on the couch watching television.“Unknown to me, my final words to him were: “Goodnight, I’ll see you tomorrow.”“My mum found him the next morning. He slipped into unconsciousness shortly before the ambulance arrived and would never wake again. “He spent four days on a life-support machine in hospital.“It was very difficult to accept what we were being told as he appeared perfect. Normal breathing, flushed cheeks, he looked like he was sleeping.“But the doctors told my family that Ronan was brain dead and there was no chance he would survive.“My parents, Maureen and Charlie, were asked if they would consider organ donation. “The doctor approached us and mentioned the possibility,” my mum recalled.“And I remembered that Ronan and I had had a conversation during Eastenders which was running a storyline about donation at the time.“I asked him would he give his organs and he said yes, he would.“We made a joke of it then. Little did I know down the line we would have to make the choice but I am glad that we did.”“When you are facing every parent’s worst nightmare in losing a child, surely it must be a difficult decision?“It is hard but Ronan was so full of life, I was happy he could save somebody else,” my mum said.“He was such a generous person, he would have loved to give someone else the gift of life. I never regretted the decision.”“Ronan donated his heart, kidneys and liver. He could not donate his lungs because he was asthmatic. My parents chose not to donate his corneas.“We were going to donate the corneas, but he had lovely big blue eyes, so I just couldn’t do it. I found that one hard to do,” mum said.“The kidneys and liver recipients were in the Republic of Ireland. The heart recipient was in Manchester.“We were told the operations were successful and everyone was doing well afterwards.“Our family has never met them and we probably never will. But organ donation has helped with coming to terms with such a sudden and devastating death.“I haven’t checked on the recipients’ conditions in the last few years,” my mum said.“It’s such a long process and if you found out that person didn’t live either in the end, it would be very hard. For me, to get on with it, I can but hope those people are alive and enjoying their lives.“I still believe because of the organ donation, Ronan, in a way, lives on, and knowing he made such a difference, has helped so much.”“We did receive a letter from one of the people who had received a kidney from Ronan.“He was a man who had been on dialysis for many years. Now, after his transplant, he told us in his letter he was going on holidays with his family and he was so happy he could now do that when he couldn’t before.“My brother will never grow older. He never got to go to his formal, to college, or to fulfil his ambition of becoming an actor.“Every Christmas, every family gathering, and every day, he is the person that is always missing.“But in life, as in death, he always helped others and his organ donation is something my family can always be proud of and take comfort in.”Elaine’s article appeared on BBC News Online as part of a series on organ donation that is running on BBC Northern Ireland all this week. You can read more here:http://www.bbc.co.uk/news/uk-northern-ireland-20390541DONEGAL BOY’S DONATION STILL BRINGING LIFE TEN YEARS ON was last modified: November 23rd, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:BallyshannondonegaldonorElaine McGeeRonan McGeelast_img read more