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Austrian pension commission to launch multi-pillar reform talks in autumn

first_imgThe commission will begin its work this autumn, with first reform proposals expected for end-February next year.Andreas Zakostelsky, chairman of the Austrian pension fund association (FVPK) and an ÖVP member of of the lower chamber of parliament, welcomed the scheduled talks in which representatives of the second and third pillar will also be included.At a press conference, he stressed it was important to increase participation rates in the second pillar, as 75% of Austrians still had no supplementary employer-provided pension.The FVPK will call for changes to the tax treatment of contributions made by employees to pension plans – both Pensionskassen and the insurance-vehicle BKV.For one, the FVPK wishes Austria to finally introduce the EET system in place in most European countries, which exempts contributions, investment income and capital gains from tax. The change would mean that not only employer contributions, but also those paid by employees would be tax exempt until the pension payout phase is reached.In addition, Zakostelsky proposed at the press conference to make the second pillar more comparable to the third pillar by introducing the same state subsidies up to the same threshold of savings.To boost participation in the second pillar, the FVPK will also suggest integrating pension saving more closely into industry-wide collective bargaining agreements.This would mean – unlike the Dutch-style approach proposed for Germany – that each employer would still have to set up its own pension contract with a provider or create its own pension fund. Zakostelsky noted that the reform talks scheduled for the coming months did not include representatives of Austria’s mandatory provident funds, or Vorsorgekassen, but said that over the long term it would “make sense to consider these in talks about retirement provision as well”.In total, the 14 Austrian Pensionskassen were managing just over €20.5bn at the end of June, with a half-year performance of 4.34%.The market has recently seen several funds merge. It is not yet known whether the sale of the Victoria-Volksbanken Pensionskasse (VVPK) to pension provider Bonus will see the company continue to run the two funds as standalone entities, or merge them into one. Austria’s goverment has for the pledged a more holistic approach to pension reform and announced that the statutory pension commission will soon examine all three pillars of its pension system before deciding on necessary adjustments and reform measures.To date, the Pensionskommission – consisting of civil servants, experts and politicians and established in 2000 – has only ever examined the country’s first pillar. Its proposals have so far included changes to the calculation of pension payouts – such as an end to payments being based on the 15 best years of workers’ earnings – increasing the statutory retirement age or tackling hurdles to early retirement and invalidity pensions.However, in 2013 the current coalition government consisting of Austria’s two main parties, the conservatives ÖVP and the social democrats SPÖ, vowed that future pension reform would take all three pillars into consideration.last_img read more


September 29, 2020 0

Head of LDI at Nordea appointed CIO at Industriens Pension

first_imgLaila Mortensen, chief executive at Industriens, said: “With his appointment, we have the organisation in place to continue our successful investment strategy and manage the growing complexity within the investment arena.” Danish labour-market pension fund Industriens Pension has found a replacement for its outgoing CIO, appointing Karsten Kjellerup Kjeldsen (pictured) to take overall charge of investment in the role, with effect from April 2016.Kjellerup Kjeldsen will come to the DKK139bn (€18.6bn) pension fund from the role of head of liability-driven investments and head of advisory and trading at Nordea Life & Pensions. Industriens’s previous CIO Henrik Nøhr Poulsen was poached last autumn by the country’s largest commercial pensions firm PFA, where he was to become one of the three directors of its subsidiary PFA Asset Management.In the meantime, Jan Østergaard is heading up investment at Industriens. The pension fund said it reorganised its investment activities into three units at the beginning of last month – listed investments, unlisted investments and investment risk.Jan Østergaard is in charge of unlisted investments, while Jacob Berring heads up investment risk.The pension fund said it aimed to hire someone else to become head of listed investments.Last October, Østergaard said the pension fund planned to treble its direct investment in property and infrastructure over the next 2-3 years, directing an extra DKK7bn (€938m) into those asset classes.He explained that these types of investment provided stability, critical at a time of floor-level interest rates and uncertainty on the financial markets.last_img read more


September 29, 2020 0

Schottel, Ulstein Partner Up on Maritime Automation, Digitalization

first_imgNorway’s Ulstein and Germany’s Schottel have decided to start cooperating to take the next step in automation and digitalization within marine operations.As informed, the duo will cooperate in a new company and focus on the development of intelligent systems for marine automation and digitalization.The former Ulstein subsidiary, Ulstein Blue CTRL, will continue as an independent company under the name Blue CTRL. Both Ulstein and Schottel will own 50 percent of the shares in the company.Deliveries from the company will be based on the X-CONNECT platform that has been developed by Ulstein for future marine automation since 2011.X-CONNECT is a universal digital platform for marine automation, control and monitoring. All functionality in the system is predefined and configurable supporting the work philosophy — configure, plug and play.Besides systems for newbuilding projects the new cooperation will also offer systems suitable for vessel upgrades.“There are many similarities between our companies. We are both privately owned. This implies the possibility of long-term strategic business concepts. We believe that we have products which are highly complementary,” Tore Ulstein, deputy CEO in Ulstein Group, explained.“Seen from the designer’s perspective, we believe that a closer integration between the development of the marine platform and the propulsion system will give far better operations of the vessel. If we manage to streamline more data between the different systems on board, we can optimise dynamic positioning and operations. This again will lead to reduced fuel consumption, reduced emission hence greener operations.”Schottel is already present on the vessel’s bridge with propulsion control systems. Propulsion controls together with the recent development of further assistance and positioning systems have always been a strategic focus for the company.“We very much look forward to this cooperation in Blue CTRL and to start the common development of intelligent systems for marine automation and digitalisation,” Stefan Kaul, President Industrial Operations & CEO in Schottel, said.“The Blue CTRL systems will not only enable us to offer our customers smarter and integrated controls for both newbuilding and existing vessels, but also provide a solid system for the offering of hybrid and electric solutions,” he added.With its headquarters in Ulsteinvik, Ulstein focuses on products and services within ship design, shipbuilding and equipment packages.Based in Spay/Rhine, Schottel manufactures propulsion and steering systems for ships and offshore applications.last_img read more


September 28, 2020 0

School nutrition policy being formulated

first_imgThe Ministries of Health and Education are collaborating to formulate a school nutrition policy as part of efforts to create healthy eating habits among children.Dominica has been working on the implementation of a school nutrition policy since 2012 when the Caribbean Food and Nutrition Institute facilitated a one day workshop here.The workshop was convened in December 2012 with a view to developing a policy that will improve the quality of nutritional care provided to students at school.The participants were afforded an opportunity to review and discuss a draft copy of the policy in order to provide feedback, critic and enhance the final document.Speaking on Vibes Radio earlier this week, Nutritionist Nurse Kerissa Shillingford said persons tend to choose to develop healthy habits when they’re either on the way of developing a Non-Communicable Disease (NCD) or when the doctor advises them to lose some weight. “So what we at the ministry of health are trying to put in place, together with the Ministry of Education, is to develop a school nutrition policy,” Nurse Shillingford informed.“Basically it would speak to what the children can eat on the school compound, what will be allowed to sell on the school compound,” she continued.Part of the objective of implementing this school feeding policy is to create an environment where students will also learn about eating healthy.“So then they will know that there’s no need to drink all that Busta or Chubby; I could just get a glass of water, or I could drink some coconut water, or I could just have a fruit as my snack,” Nurse Shillingford stated.Additionally, she said the school nutrition policy will educate the parents on better snack and food choices to give to their children as children live what they learn.“So if they don’t have that training in them, then they tend to become adults that are obese with NCDs so we will always have that struggle,” Nurse Shillingford added.The Dominica Government imposed a ten percent excise tax on alcoholic beverages and sugar confectionaries, to help reduce the incidents of chronic non-communicable diseases (CNCDs). Share Share Share 164 Views   one commentcenter_img Sharing is caring! Tweet HealthLifestyleLocalNews School nutrition policy being formulated by: – May 4, 2018last_img read more


September 26, 2020 0

Murder rap sends Balasan man to jail

first_imgArbacan was detained in the lockup cellof the Balasan municipal police station. The 39-year-old Ramonet Arbacan ofBalasan, Iloilo was caught on the strength of an arrest warrant on March 14. ILOILO City – A frustrated murdersuspect was arrested in Barangay Pandan, President Roxas, Capiz.center_img The court recommended a P200,000 bailbond for his temporary liberty./PNlast_img


September 25, 2020 0

DOH records 2,141 dengue cases, 3 deaths in Region 6

first_imgILOILO City – This year from Jan. 1 to May 16 the Department of Health (DOH) recorded 2,141 suspected dengue cases with three deaths in Western Visayas. * others – 39 cases (illness contracted outside Region 6 but patients confined in the region) Dengue is a mosquito-borne viral infection causing a severe flu-like illness that could sometimes be fatal. Its carriers are day-biting mosquitoes (Aedes albpictus and Aedes aegypti) that live and breed and clean, stagnant water. According to the World Health Organization, individuals should suspect dengue when a high fever (40 degrees centigrade) is accompanied by two of the following symptoms: severe headache, pain behind the eyes, nausea / vomiting, swollen glands, muscle and joint pains, and rashes. * Aklan – 275 cases The demand for blood (for blood transfusion to patients with severe dengue) also spiked. “We saw how difficult the situation was last year. Now that we are facing COVID-19, having dengue pa gid would be very difficult kay limitado ang aton hospitals,” said Treñas. Treñas recently tasked the City Health Office (CHO) to make sure the city’s 180 barangays are clean, that is, with no chance to harbor mosquitoes. * Guimaras – 35 cases This was 74 percent lower than the figures – 8,110 cases with 54 deaths – recorded in the same period last year, according to Dr. Jessie Glen Alonsabe, epidemiologist of DOH Region 6. “If anybody has fever, most especially children, go to the nearest health facility for proper screening,” said Alonsabe. * Bacolod City – 154 cases In this city recently, Mayor Jerry Treñas warned it would be doubly difficult for the city government to fight two viruses at the same time. Thus while currently busy fending off the spread of SARS-CoV-2, the virus which causes the coronavirus disease 2019 (COVID-19), he has started moving to ward off a potential surge in dengue cases. The age range of the dengue suspected cases were from one month old to 88 years old. Alonsabe urged Western Visayans not to be complacent but continue practicing the 4S strategy against dengue – “search and destroy” mosquito breeding places; “self-protection” from mosquito bites; “seek early consultation” when signs and symptoms of dengue occur; and “say yes to fogging” as a last resort. * Iloilo province – 401 cases The Sangguniang Panlungsod declared a state of calamity due to dengue in July 2019./PN Here’s the breakdown of this year’s suspected dengue cases: He also stressed the importance of personal hygiene, proper hand-washing and cough etiquette, pointing out the “overlapping” symptoms of dengue and influenza-like illnesses (ILI) such as fever. This resulted to hospitals bursting at the seams with patients. There was a shortage in hospital rooms, beds, doctors, and nurses. Last year from Jan. 1 to Dec. 31, the city recorded 3,329 dengue cases with 16 deaths, at an attack rate of 701 per 100,000 population. For influenza-like illnesses, the more prominent symptoms are fever and cough. * Capiz – 202 cases * Antique – 102 cases with one death * Iloilo City – 147 cases with one death * Negros Occidental – 786 cases with one death For severe dengue, the warning signs to look out for are: severe abdominal pain, persistent vomiting, rapid breathing, bleeding gums, blood in vomit, fatigue, and restlessness.last_img read more


September 25, 2020 0

Steven John Foist

first_imgSteven John Foist, 61, of Aurora, Indiana, passed away Wednesday, August 24, 2016.He was born June 6, 1955 in Cincinnati, OH, son of the late Robert and Dorothy Foist.Steven was a self employed painter. He was a motorcycle enthusiast; he enjoyed racing, both motorcycle and car racing. He loved spending time with his family and his dog Rocky.Surviving are his loving wife, Barbara Foist, children, Candice (Joseph) Goodpaster and Derek Foist; brothers, Robert Foist and Joe (Hedi) Foist, grandsons, Braden Foist and Brody Goodpaster.Steven was preceded in death by parents Robert & Dorothy Foist, sister, Hope Pickett.Services will be held at the convenience of the family.Contributions may be made to the American Cancer Society. Please call the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.comlast_img read more


September 24, 2020 0

Maiga: Hammers will come good

first_img Press Association The Mali forward came off the bench to score once and set up another as the Hammers played out an eventful 3-3 draw against West Brom on Saturday. Maiga was also the man to score the winning goal against Tottenham to set up West Ham’s Capital One Cup semi-final date with Manchester City, but it is their form in the Barclays Premier League which has everyone at the club looking worried. Modibo Maiga feels West Ham are close to finding out what has caused their poor form in recent weeks and believes an injection of confidence would also help. Sam Allardyce’s side have taken only two points from their six league games in December, but Maiga reckons there is not much that needs to be put right. “I think overall there’s not much wrong, perhaps a slight lacking in confidence,” he said. “The only solution is to work hard. Hard work and then, ultimately, we’ll see how it goes. We’ll carry on working hard and I believe it’s just the small things that are missing right now – but we’ll be OK.” The draw leaves West Ham 19th in the table, with a trip to fellow strugglers Fulham to come on New Year’s Day, and Maiga wants to build on the performance at home to the Baggies rather than dwell on what might have been. “It is true that we’re all disappointed (to draw),” he said. “It was a tough game physically. Though we’re disappointed, the most important thing now is to pick ourselves up for the next game, so that things turn in our favour. “Every point is important and the most important thing on Saturday was not to lose. We’ve got to try to continue to play as we did in the second half.” Maiga’s second-half goal was his first in the Premier League in over a year and just his second in 16 appearances so far this season. The 26-year-old was carrying much of the attacking burden during the early stages of the season but is now battling with re-signed Carlton Cole for a place in Allardyce’s side. With Andy Carroll still recovering from his heel injury, Allardyce has played with no more than one striker so far this season and Maiga is still adjusting to a change in approach. “I’m really happy,” he added. “Though I’m not that used to playing in this system, I’ve dealt with it and I’m pleased to have scored. It’s reward for me and for my work and I hope it’s going to continue.” West Brom had fallen behind to Joe Cole’s strike before Nicolas Anelka netted his first two goals for the club to turn the game on it’s head before half-time. Maiga’s goal and his assist for Kevin Nolan put West Ham back in front, with Saido Berahino scoring the last of the goals to earn the Baggies a point. Berahino, who recently signed a new deal at the Hawthorns, is looking to continue scoring for his club. “I’m just looking forward to the next game now,” he said. “The team spirit has been brilliant, we went behind but we came back. I want to thank my team-mates because our spirit is high. “We have stayed strong as a team through a difficult period and we just want to get through this.” Downing refused to take any credit for his chopping and changing of the side to freshen things up over the packed festive schedule and was keen to praise the players for their efforts. “I thought from Hull, Tottenham and twice coming back against West Ham is down to the players’ attitude to get themselves back into the game,” he said. “You can say I make changes and substitutions but you’re only trying to help. It’s the XI on the field who make it happen. “I could sit here and take all the adulation – but I won’t. The players have responded really well – that’s what they do. You can only advise and try and encourage, and give a little help with a tactical change here and there but the players have to do it.” last_img read more


September 21, 2020 0

Chelsea manager Jose Mourinho denies rift with captain John Terry

first_img Steven Gerrard, Terry’s successor as England captain, suggested relations were strained between Blues boss and skipper, something Mourinho has denied. But the Portuguese insists he will do what is best for the team and Terry understands that as much as anyone else. “Last season he played every minute but two seasons ago he didn’t and three seasons ago even less. So what’s the problem?” Mourinho said. “He’s a player of my total confidence. I trust him as always and he’s one of my men. Because he’s on the bench one game or because I take him off at half-time, nothing changes. “For John the situation with me hasn’t changed since 2004 (when Mourinho first became Chelsea boss). It is exactly the same. “I play the player I think is the best for that game, for that moment and John has known that since 2004. “I don’t care what you say, media, pundits. I don’t think about the consequences.” Mourinho says it is disrespectful to Terry to suggest a rift with his manager. Press Association Chelsea manager Jose Mourinho is adamant his relationship with John Terry is as strong as ever despite the captain’s on-field influence showing signs of waning. “I don’t think John deserves somebody to say he has a problem with me,” Mourinho added. “I’m not even speaking about myself, I don’t care about myself. “But I think a top professional like he is and the way he always behaves in this club with me, I don’t think he deserves any kind of doubt about what he is as a professional and as a captain in this club.” The 34-year-old played every minute in the Premier League as Chelsea won the title last term, but is by no means assured of his place against Arsenal on Saturday. Terry was substituted at half-time in the 3-0 loss at Manchester City, was sent off in the win at West Brom and was an unused substitute in the midweek Champions League win over Maccabi Tel Aviv. last_img read more


September 20, 2020 0

Hriday Hazarika Is Capable To Bring More Laurels: Yuri Lisichko

first_imgOur Sports ReporterGUWAHATI: Former coach of national junior shooting team of India Yuri Lisichko was in Guwahati recently to attend a training camp which was organized by the Assam Rifle and Shooting Association for pistol shooters at its Kahilipara shooting range. At the side line of the camp Yuri, former personal coach of Indian shooter Jitu Rai, shared his experience on the camp and a few other aspect of the game during a conversation with The Sentinel. Here is the excerpt.TS: Tell us about the camp.It’s nice. The duration of the camp was short and it is not possible to work on every aspect of the game. But overall it is good.TS: Your comments on the shooters participated in the camp?They are junior and need to learn a lot of things before get ready for the big tournaments. We have worked on some areas and need to continue it in future also. Hope Assam Rifle and Shooting Association will invite me once again! (with laugh).TS: Promising shooter from Assam Hriday Hazarika is consistently performing in international meets. How do you see the future of Hriday?He is really a talented shooter. Hriday already established himself as a good shooter in junior category. Now you need to take little care. He should get the facilities to train under a reputed coach and that too on regular basis. If it is happened and Hriday stays focus on his game I feel the boy is capable to bring more laurels for the country from the international meet.TS: What about the present scenario of shooting in India?India has already produced several top international shooters. The junior shooters are also doing well in the international events. So the scenario is good. Only thing the Federation need to do is that they should reduce the number of competition for the elite Indian shooters.TS: What can we expect from Indian shooters in the coming Olympics?The competition would be very tough. It would not be bad if they manage to win at least a couple of medals from Tokyo.TS: Your tips to the young shooters.Look, shooting is not like that you just take the gun and aim the target. You have to do a lot of physical exercise and also work on the improvement of concentration level. So my advice is that work on every areas giving equal important if you want to be a good shooter.Also Read: Assam Shooter Hriday Hazarika Bags Gold & Bronzelast_img read more


September 20, 2020 0