PensionsEurope calls for further delay to data reporting requirements

first_imgEurope’s top pensions lobby group has called for a 12-month delay to the implementation of EU-wide reporting requirements for pension funds.PensionsEurope also warned that data reporting rules proposed by the European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) placed a “big financial burden” on some pension funds.Many of its members would not be ready to comply by December 2019 when the requirements are due to come into force, PensionsEurope said in response to a consultation on the proposals.“In many countries pension funds would need more time to adapt their reporting systems to the new requirements in order that their implementation costs will not become enormously high, and therefore we propose to postpone the first reporting at least by one year,” the group stated. A delay was particularly important given EIOPA’s decision to require reporting using the “extensible business reporting language” (XBRL) online framework. Although it is in use for Solvency II reporting for insurance companies, PensionsEurope said pension schemes would require “not only new software solutions, but a completely different know-how [for] employees”.“Reporting for EIOPA and ECB is an additional cost factor to the detriment of beneficiaries and sponsoring companies”The group acknowledged several concessions made by the central bank and EIOPA, including estimating quarterly liability calculations themselves and collecting information from national regulators. However, PensionsEurope also reiterated its primary concerns that the reporting requirements would place a major financial burden on pension funds, and urged the ECB and EIOPA to gather as much data as possible from national regulators instead of directly from schemes.It has repeatedly warned EIOPA and the ECB of the cost and administrative burdens data reporting could pose to pension schemes.Some pension funds do not have access to “granular” information on their investments from their asset managers, PensionsEurope added, and should not be forced to pay for “expensive licenses” to access such data.“We would like to stress that statistical reporting and collecting information always contain costs for pension funds, so it should be very carefully considered which information is relevant and needed, and how often they should be reported,” the lobby group stated.“Any extra costs will be [ultimately] paid by the sponsor and/or members and beneficiaries… Increasing regulation and other requirements make occupational pensions more expensive, making it less likely that pension schemes are being set up and contributions paid.”It added that the new requirements would be “additional reports without any chance of simplification or elimination for reporting requirements that already must be fulfilled nationally”.“The reporting for EIOPA and ECB is therefore an additional cost factor, in the low-interest [rate] environment, to the detriment of the beneficiaries and sponsoring companies,” PensionsEurope concluded.PensionsEurope’s full response can be found here.last_img read more

Argonia-Attica to battle Victoria for all the Class 8-man Div. II marbles Saturday

first_imgVictoria (11-1)  Victoria 24 Central Plains 42Victoria 62 Ellinwood 8Victoria 46 St. John 0Victoria 26 Ness City 22Victoria 48 Northern Valley 0Victoria 68 Beloit St. Johns-Tipton 56Victoria 58 Thunder Ridge 34Victoria 1 Natoma 0Victoria 50 Otis-Bison 0Victoria 34 Hoxie 20Victoria 64 Minneola 12Victoria 28 Sharon Springs-Wallace Co. 12. Competing schedules:Argonia-Attica (12-0)A&A 66 Cunningham 20A&A 28 Cedarvale-Dexte 26A&A 74 Central Burden 34A&A 90 Pratt-Skyline 52A&A 60 Caldwell 38A&A 53 South Haven 6A&A 62 Pretty Prairie 6A&A 54 Norwich 6A&A 54 South Barber 8A&A 84 Southern Coffey 40A&A 56 Pike Valley 32A&A 70 Axtell 44 Series history: None. by Tracy McCue, Sumner Newscow — If the Argonia-Attica football players have been nervous this week, they sure are not showing it, said Luke Greenwood, A&A co-head coach.“They are extremely excited and focused,” Greenwood said. “We’ve had a great week of practice. I don’t think I would say nerves has been a factor.”Come Saturday morning at 11 a.m. when the Titans walk onto the field that may be a different story. A&A will be trying to bring home a Class 1A Division II eight-man state championship in Newton at Fischer Field. If accomplished, the Titans will be the first Sumner-Harper County football team to win a state championship since Conway Springs did so in 2011.The last time an eight-man team has won a state championship in the area? Attica did it in 1988 winning the 8-man Division II crown. None of the football players were alive then. Needless to say the two communities are excited. A community pep rally is set for tomorrow night. Then the boys will get on a bus at 6 a.m. Saturday after a team breakfast in Harper and travel north to play for all the marbles at 11 a.m. The game should be a doozy. Greenwood said Victoria will be a run-first I formation team that will lull a defense to sleep before initiating the play-action pass.The Knights are physical and they’ve played a meaty schedule. Victoria’s only loss this season was to Central Plains 42-24 in week one. Central Plains is playing for the 8-man Division 1 championship.“I think the key moment of the game will be right off the bat, how we match up with them physically,” Greenwood said. “If we can’t, then it’s going to have to be a tough game and we will have to make plenty of adjustments.”There is no doubt Victoria is the real deal. It is a well-established eight-man powerhouse from western Kansas, having won a state championship five times. The last time came in 2006.The last Sumner County team to make the eight-man state championship game was in 2007 when South Haven played Sharon Springs. That game ended at halftime with the western school winning by more than 50 points.Hopefully, that scenario won’t be a repeat.In the Knights 28-12 victory over Sharon Springs on Friday, they punted and fumbled twice and gave their opponent a short field at the beginning of the game. Both times Victoria held Sharon Springs scoreless.The Knights have a tenacious defensive line – ruled by juniors Brandon Brungardt and Wheaton Hockersmith. They wore Sharon Springs offense down, allowing just one offensive touchdown for a team accustomed to 300 yards of offense and 50 points per game.They will have to do it again.A&A has been averaging over 50 points in every single contest this season but one and last week’s 70 point total was no exception.It was a contest in which the Titans scored on nearly every possession while taking advantage of four turnovers.“The kids have really done a nice job of adjusting,” Greenwood said. “After that first possession in which Axtell drove the length of the field, we kept our heads and adjusted. That was a physical team, but we wore on them and eventually took control in the second half.”ARGONIA-ATTICA VS VICTORIA GAME AT A GLANCE:Argonia-Attica (12-0) vs. Victoria (11-1), Saturday at 11 a.m. at Fischer Stadium in Newton, Class 1A 8-man Div. II state championship. Injury situation: Argonia-Attica continues to be healthy, and that has been key to its success this season.Stats: Argonia-Attica season stats and some comparisons with Victoria can be found here.Follow us on Twitter. Game’s significance: The Class 8-man Division II state championship. Duh. Follow the game: Internet: Live twitter blogs on this site, Sumner Newscow. Twitter: Follow us at Cueballnewscow. Photos and recaps: Sumner Newscow. Game night weather: Could be a great day to watch a football game. The weather is expected to be in the 50s with a 20 percent chance of rain. The sun should peak its head sometime during the game. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments (6) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. +5 Vote up Vote down Bluejay Fan · 299 weeks ago Good luck, Titans! What an outstanding season. Report Reply 0 replies · active 299 weeks ago +1 Vote up Vote down Ted Logan · 299 weeks ago Which of these teams is the private school? Report Reply 0 replies · active 299 weeks ago 0 Vote up Vote down Jim · 299 weeks ago none of the CURRENT players were alive Report Reply 1 reply · active 298 weeks ago 0 Vote up Vote down Ted Logan · 298 weeks ago I also enjoyed that line. Report Reply +1 Vote up Vote down Sarah · 298 weeks ago One Team One Dream. Go Titans! Report Reply 0 replies · active 298 weeks ago +1 Vote up Vote down Wounderful · 298 weeks ago I am really proud of these kids and all they do to be the best they can be and for all the help from parents that go out of their way to get them boys to practices. I have a great nephew playing and love to see their dreams coming true. 1 more game win it. Report Reply 0 replies · active 298 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more