Category: ncfoeeey

  • IORP II risk-evaluation rules must be drafted before directive can pass – AEIP

    first_imgIt further warned that the article within IORP II detailing the REP made allowances for a delegated act should be abandoned in favour of the legislative draft containing all relevant information, due to the “sensitivity” of the topic.Delegated acts are often inserted after a Directive has been passed by the European Parliament and would likely be informed by the European Insurance and Occupational Pensions Authority’s work, similar to the devolution of responsibilities on regulations for other financial directives to the European Securities and Markets Authority.“Moreover, the future draft delegated acts should be subject to a cost-benefit analysis and should be limited to technical aspects,” the position paper added.“All the information and improvements the Risk Evaluation for Pensions might bring to an IORP could be reached also through [asset-liability management] studies.”The REP currently stipulates that funds examine risks stemming from a number of areas, including the risk to its portfolio from climate change and resource scarcity.The AEIP was also strongly in favour of the IORP Directive being scrutinised not only from a financial perspective, calling for greater involvement for those responsible for social affairs within the European Commission and Parliament.It further called for the directive to be discussed not only by the finance ministers of each member state as part of an Economic and Financial Affairs (ECOFIN) meeting, but for representatives of domestic social affairs ministries to debate it during their own meetings.The organisation suggested the Pension Benefit Statement (PBS), widely criticised by a number of other groups, failed to add additional value, and said the proposed two-page format was unlikely to provide “clarity and understanding”.“The AEIP would rather plead to [allow] for national creativity and national solutions to information provision adapted to the specific needs of the different IORPs,” it said.“It would refrain from providing just more information, as this should rather be clearer and comprehensible.” The European Commission must publish further details of the proposed IORP II risk assessment framework ahead of the Directive passing into law, according to the European Association of Paritarian Institutions (AEIP).Publishing its position paper on the revised IORP Directive, the organisation was critical of the draft’s “overwhelming internal market point of view” and argued that the directorate general and parliamentary committee for employment and social affairs should be more closely involved in all future decisions.However, the AEIP welcomed the Directive’s removal of member state investment restrictions and its abandoning capital requirements, which internal markets commissioner Michel Barnier confirmed last year would be dropped.It nevertheless warned that the proposed Risk Evaluation for Pensions (REP), to be completed “regularly and without delay” when a change in a scheme’s risk profile occurs, could be seen as the “first step” towards an Own Risk and Solvency Assessment (ORSA) – one of the key elements of Solvency II.last_img read more

  • PFA takes over Danish pension fund for pharmacists

    first_imgHe said the fund had had a “very positive dialogue with PFA” and was confident customers’ savings would be safe with the company.The pension fund has been looking into the possibility of moving members’ plans to another, larger company since 2013, PFA said.“As Denmark’s smallest pension fund, in the long run, we cannot live up to our members’ natural expectations of their pension provider,” said Larsen Gulev. “It is to our customers’ clear advantage to move the scheme to PFA.”He stressed that the pension fund had in no way been forced into a marriage of convenience with PFA, but that the requirements from authorities as a pension fund grows made it difficult for small institutions to deliver a competitive product.PFA said the new pension customers would come under one umbrella within the organisation as its existing customers in the pharmaceutical field: professional association Pharmadanmark, the Danish Pharmaceutical Association and Pharmakon – the Danish College of Pharmacy Practice. Denmark’s Pensionskassen for Apotekere og Farmaceuter, the pension fund for pharmacists, has been taken over by the country’s biggest commercial provider PFA, with the professional fund’s DKK1.5bn (€201m) of pension savings being transferred.As part of the shift, which took effect on 1 April having been agreed at the pension fund’s general meeting in December, all members’ plans will change to unit-linked savings products from traditional with-profits plans.The move includes around 2,000 scheme members and annual contributions of about DKK65m.Jesper Gulev Larsen, chairman of the pharmacists’ pension fund, said: “We have, after careful consideration, chosen PFA as future pension provider for our members.”last_img read more

  • Hoosiers now pay online sales tax

    first_imgIndianapolis, In. — Here is the bottom line- If you live in Indiana you now pay 7-percent sales tax on online purchases from out-of-state companies. The law was passed in October of 2017 and the Indiana Supreme Court knocked down a challenge this summer and ordered collection to go forward effective October 1.The new sales tax rule will apply to businesses that make more than $100,000 in sales from Hoosiers, or have more than 200 separate transactions in Indiana.Governor Eric Holcomb released the following statement:A lot about our world and economy has changed in the 26 years since our nation’s highest court last ruled on this issue. With the incredible evolution of technologies and the growth of internet sales, this Supreme Court ruling will help level the playing field between our Hoosier-based companies that operate retail stores and out-of-state companies that sell products and services online in our state. We’re taking a careful look at the ruling to better understand its implications for Indiana.South Carolina has enacted is similar law as well.last_img read more

  • Sidewalk revitalization underway in Greensburg

    first_imgGreensburg, In. — A mixture of grants and city funds will fund a sidewalk revitalization project in Greensburg this year on Main Street from Franklin Street to Broadway Street.The project is funded by $15,000 from the Alma Taylor Foundation, $600,000 grant from the Indiana Office of Rural and Community Affairs and $135,000 from the city of Greensburg.Contractors will be working hard to maintain access to downtown businesses during construction.last_img

  • Alcohol believed to be a factor in moped accident

    first_imgVersailles, IN—Early this morning, The Ripley County Sheriff’s Department Ripley County EMS, and Versailles Fire Department responded to W Tanglewood Road in Versailles for a single-vehicle accident involving a moped. The driver, Tony Buchanan, suffered injuries from the accident and was airlifted from the scene.  Alcohol is suspected to have been one of the factors of this accident.last_img

  • Faf du Plessis fined for ball-tampering, cleared to play

    first_img(REUTERS) – Faf du Plessis has been found guilty of ball-tampering and fined his entire match fee from the second Test against Australia in Hobart but the South Africa captain has been cleared to play in this week’s third and final match of the series.du Plessis received the punishment following a lengthy International Cricket Council (ICC) hearing in Adelaide yesterday, two days ahead of South Africa’s first day-night Test match at the Adelaide Oval.The 32-year-old, standing in for injured regular skipper AB de Villiers, was charged by the ICC on Friday after footage emerged that appeared to show the Proteas skipper applying saliva to the ball while sucking on a sweet.After hearing representations and evidence from the umpires at last week’s second Test as well as Marylebone Cricket Club (MCC) head of cricket John Stephenson, ICC match referee Andy Pycroft found du Plessis guilty.The London-based MCC remains the copyright holder to the laws of cricket.“The decision was based on the evidence given from the umpires, who confirmed that had they seen the incident they would have taken action immediately, and from Mr Stephenson, who confirmed the view of MCC that the television footage showed an artificial substance being transferred to the ball,” the ICC said in a statement.Three demerit points had also been added to du Plessis’s disciplinary record, the governing body added.If a player accumulates four-to-seven demerit points within a two-year period they are converted into two suspension points, which brings a ban for one Test or two one-day internationals or Twenty20s, whatever comes first.du Plessis, who pleaded not guilty to the charge, had previously been sanctioned for ball-tampering after a Test against Pakistan in 2013.He was then fined 50 percent of his match fee after he was caught on camera rubbing the ball against a zip on his pocket on the third day of the match in Dubai.The Proteas have wrapped up the three-match series in Australia with a game to spare after routing the hosts by an innings and 80 runs in the Hobart Test.The ball-tampering charge angered the South African camp and senior batsman Hashim Amla launched an impassioned defence of du Plessis on Friday in a public show of solidarity with the entire team standing behind him.The Proteas management complained on Monday that du Plessis had been subject to ‘harassment’ by Australian media after a TV reporter was involved in a physical confrontation with a team security guard at Adelaide Airport.last_img read more

  • Racquet Centre Squash courts get overhaul

    first_imgTHE squash courts at the National Racquet Centre on Woolford Avenue are undergoing major repairs as the Guyana Squash Association (GSA) prepares for the hosting of this year’s Digicel Junior Caribbean Area Squash Associations (CASA) Championships set for July.The repairs on the two courts started a few weeks ago, and are expected to be completed within another month or so. The renovations at the facility will see the complete overhaul of the courts’ floors, and a few additions.“We’re replacing the floors, putting in new plastic seating like at the Stadium and enclosing the back, putting in a whole back wall,” GSA vice-president David Fernandes explained.The works are being undertaken by the government through the National Sports Commission and Department of Culture, Youth and Sports,According to Fernandes,the three courts at the Georgetown Club is also expected to see some revamping, though not as extensive as what is ongoing at the Racquet Centre.“If you’re having a big tournament here you have to clean up, make sure you do a good job. We have to ensure that when persons come here that they never forget this experience,” Fernandes said.The hosting will mark a return of the annual tournament to Guyana’s shores after it was last held here in 2011. Over 100 players are expected to descend on Guyana for the tournament. A squad for the Guyana side is already in training. A known powerhouse in junior squash in the Caribbean,the Guyana team is looking for favourable performances.last_img read more

  • Delhi Capitals powered by Rishabh Pant thump Mumbai Indians at Wankhede

    first_imgDELHI Capitals (DC) have managed to take a lead in the head to head battle against the Mumbai Indians (MI) in the ongoing Indian Premier League (IPL).The Capitals have also opened their account with a victory in their opening match of the season. MI, on the other hand, have yet again started with a loss. They have now not won their first match of the season since 2012.Coming back to the match, the hosts won the toss and opted to field first at the jam-packed Wankhede stadium. They also started well to send back Prithvi Shaw and Shreyas Iyer early in the innings.At 29/2, it seemed that the Capitals will post a below-par total. But Colin Ingram arrived and things started to settle in. He, along with Shikhar Dhawan, stitched 83 runs for the third wicket to get the momentum going for the team.After Ingram was dismissed, it was time for Rishabh Pant to launch an assault on the Mumbai bowlers. He literally 0ripped apart each and every bowler that came his way on his way to a 17-ball half-century. He shifted gears dramatically after that to end unbeaten on 78 off 27 balls which led the Delhi Capitals to a mammoth total of 213 runs for the loss of six wickets after 20 overs.Yuvraj fights but to no availMumbai Indians (MI) needed their skipper Rohit Sharma and Quinton de Kock to have any chance of gunning down the total. But both of them were sent back to the hut within the powerplay overs. Yuvraj Singh and Kieron Pollard then added 50 quick runs for the third wicket to keep the team in the hunt. But the latter was bluffed by Keemo Paul with a slower one and Axar Patel snaffled Hardik Pandya in the very next over for a duck to effectively seal the game.But Yuvi was undone yet. His sublime sent the Mumbai fans into the frenzy and his half-century was the only positive for them in the end. Constant fall of wickets from the other end didn’t help the home team’s cause as they eventually fell short of the target by 37 runs.Mumbai Indians could only score 176 runs for the loss of nine wickets as Jasprit Bumrah didn’t come out to bat.last_img read more

  • MLAX : Hamlin becomes more vocal for defense as Orange prepares for opener

    first_img Published on February 15, 2012 at 12:00 pm Contact Chris: cjiseman@syr.edu | @chris_iseman John Desko didn’t need to see the improvements Dave Hamlin’s made because he could already hear them.Over the course of two seasons, the Syracuse head coach could tell his defender was morphing from a shy freshman to a confident, vocal leader. After Hamlin struggled to communicate effectively on the field, the junior has evolved to a point where during games Desko can hear Hamlin’s voice ringing out to help command the SU defense.‘His personality is quiet to begin with,’ Desko said. ‘So as a freshman, I think that was something the coaches, especially coach (Lelan) Rogers, kept stressing with him, had to keep reminding him to communicate with the other players on the field. But he’s gotten a lot better with that. I think he’s much more comfortable with it.’After redshirting his freshman year and serving as a backup the last two seasons, Hamlin’s stepping in as a starter at close defense this year. Unlike Brian Megill, who has started every game since he has been in a Syracuse uniform, Hamlin had to patiently wait his turn, knowing that there would be a time when now-graduated defenders John Lade and Tom Guadagnolo would need replacements. Hamlin will finally get that chance Sunday in the Orange’s season opener against Albany at 2 p.m. in the Carrier Dome.He and the rest of the SU close-defense unit will try to replicate the type of shutdown defense it has boasted for the past several seasons. And it all starts with the close defenders’ communication on the field. Something Hamlin struggled to pick up.AdvertisementThis is placeholder textThough communicating on the field was a challenge for him as a freshman, Hamlin learned by watching SU’s starting unit flawlessly connect on its coverage from his place on the sideline.‘Their talk, their communication, which I’ve always had trouble with. In the last year, I began to pick it up, our whole defense as a whole, I think,’ Hamlin said. ‘… Really, just playing with each other, being comfortable with each other on the field, and that came from that great communication.’Now, Megill said Hamlin ‘never shuts up’ on the field, yelling out formations, commands and assignments to him and fellow close defender and new starter Matt Harris. The lingering apprehension has been eliminated completely.‘I think more of it when I was a freshman two years ago and he was a redshirt freshman, he seemed a little bit shy,’ Megill said. ‘Now, he’s opened up. He’s opened up like a book.’Hamlin earned valuable playing time last season when Lade went down with an ankle injury that kept him on the sideline for two games. He said that stretch of games alone provided ample opportunity to grow as a player, helping him ease into his full-time starting spot now.Megill is an imposing force on close defense and can guard opponents’ top scorers regardless of their size, while Hamlin is quick on his feet and can neutralize opponents’ fastest dodgers.Despite Hamlin’s abilities, he still spent the better part of the past two seasons on the sidelines. How many minutes he saw — if he saw any at all — varied from game to game, something he’s glad to not have to deal with anymore.‘It was a little unsettling last year warming up, and there were some games where you wouldn’t see any time to games where Lade would come out in the first quarter, and I’d have to play the rest of the game,’ Hamlin said.In the Orange’s first game of the season, the close defenders are going to receive an immediate test against one of the country’s top scorers in Albany attack Joe Resetarits. Desko called him the ‘quarterback’ of Albany’s attack, as Resetarits finished 2011 with 31 goals while also notching 13 assists.Hamlin has been waiting for three years for this chance, and on Sunday, he’ll finally be out on the field as a starter.If things are going well, Desko should be able to hear Hamlin’s voice resonating throughout the Dome. And Hamlin knows strong communication is what’s going to help make the difference between a win and a loss for the Orange.‘It always takes a little while getting used to playing with new guys,’ Hamlin said. ‘But like I said, that communication probably cuts that time in half because it makes playing with new guys so much easier.’cjiseman@syr.edu  Commentscenter_img Facebook Twitter Google+last_img read more

  • Zika warning still in effect for Caribbean

    first_imgMosquito warning Despite a dip in the reported cases of the Zika virus in the Caribbean the US Centers For Disease Control (CDC) is still warning travelers to several Caribbean nations about the virus especially in the warmer months.Thirty-seven Caribbean countries, including the US territories of Puerto Rico and the US Virgin Islands, remain on the CDC’s travel advisory list as a “Level 2” alert, which advises travelers to “Practice Enhanced Precautions.”The advisory could put a dent in Caribbean tourism numbers from the US this summer.The countries still on the CBC travel advisory list are: Anguilla, Antigua and Barbuda; Aruba, The Bahamas, Barbados, Belize, Bonaire, British Virgin Islands, Cayman Islands, Cuba, Curaçao, Dominica, Dominican Republic, Grenada, Guyana, Guadeloupe, Haiti, French Guiana, Jamaica, Martinique, Montserrat, the Commonwealth of Puerto Rico, a US territory, Saba, Saint Barthelemy, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Vincent and the Grenadines, Suriname, Saba, Saint Bathelemy, Sint Eustatius, Sint Maarten, Trinidad and Tobago, Turks and Caicos Islands and the US Virgin Islands.The CDC says mosquitoes in the 31 countries are infected with Zika virus and are spreading it to people. They are urging pregnant women or those trying to become pregnant to avoid travel to the countries of the list and warning travelers who do travel to the region to use condoms or not have sex during their trip since sexual transmission of the Zika virus is possible. Person planning to travel to the Caribbean are warned to:Cover exposed skin by wearing long-sleeved shirts and long pants; Use EPA-registered insect repellents containing DEET, picaridin, oil of lemon eucalyptus (OLE, also called para-menthane-diol [PMD]), IR3535, or 2-undecanone (methyl nonyl ketone) as directed. Pregnant and breastfeeding women can use all EPA-registered insect repellents, including DEET, according to the product label. Most repellents, including DEET, can be used on children older than 2 months. (OLE should not be used on children younger than 3 years.); Stay in places with air conditioning and window and door screens to keep mosquitoes outside; Sleep under a mosquito bed net if air conditioned or screened rooms are not available or if sleeping outdoors. Mosquito netting can be used to cover babies younger than 2 months old in carriers, strollers, or cribs to protect them from mosquito bites.Use permethrin-treated clothing and gear (such as boots, pants, socks, and tents). You can buy pre-treated clothing and gear or treat them yourself.last_img read more