Dutch regulator: Determining risk attitude in DC schemes must be improved

first_imgIt also transpired that the pension funds and PPIs had not explicitly examined their scheme members’ preferences. According to DNB, in the instances where providers had determined risk attitudes based on existing lifecycles, they had insufficiently substantiated whether this would also be the best choice for the members.DNB mentioned a number of best practices, among which were a risk preference study among scheme members, panel sessions and individual interviews. Pension funds with defined contribution (DC) plans and specialist low-cost DC vehicles usually don’t meet the legal requirements for determining the risk attitude among scheme members, according to the Dutch pensions regulator.In a letter to pension funds, De Nederlandsche Bank (DNB) said this can lead to too much or too little risk being taken with the investments.The regulator investigated seven PPIs – as Netherlands’ low-cost DC vehicles are known – and the approximately forty pension funds with a defined contribution scheme. Some providers met the legal requirements for determining the risk attitude, but DNB found deficiencies with most of them.A large number of pension providers set the risk attitude in the DC scheme, which is often additional to the defined benefit (DB) scheme, equal to that of the benefit agreement in the main scheme. The risk attitude for the DC plan would not have been investigated separately, resulting in the use of the wrong level of risk. last_img read more

Yinson’s Adoon FPSO in another 3-month contract extension

first_imgNigerian oil company Addax Petroleum has extended the contract for Yinson’s Adoon FPSO for another three months, pending discussion for a potential longer-term deal.Malaysia’s Yinson on Friday said:” In view that negotiations are still ongoing as to a substantive extension of the tenure of the contract, Addax has via a letter dated 21 November 2018 further extended the Contract on an interim basis from 16 January 2019 to 16 April 2019 upon the existing terms and conditions.”As Offshore Energy Today previously reported, Addax, a subsidiary of China’s Sinopec, in October extended the FPSO contract keeping it employed until January 16, 2019.The 1985-built vessel, moored at the Antan field offshore Nigeria, won its first contract with Addax in October 2006. After the original contract expired on October 16, 2014, it was extended for another year.After that, the contract was extended for another three years to October 16, 2018.Offshore Energy Today Stafflast_img read more

Moyes happy with Ferguson role

first_img “I have only found Sir Alex really helpful for me,” Moyes told reporters ahead of Sunday’s Premier League trip to Aston Villa. “If I have needed any advice I can pick up the phone to him. “I will have a call maybe once every two or three weeks and he has been very good. “I don’t see him regularly. He comes to the games but he is a director now so he is entitled to do that. “We bump into each other now and again and I will say hello after the games. “He doesn’t come to the dressing room before or afterwards. A lot of the directors do but Sir Alex keeps away from it. “I have no problem with Sir Alex whatsoever.” Press Association Manchester United manager David Moyes has dismissed Roy Keane’s claim that Sir Alex Ferguson is still trying to exert influence at Old Trafford.center_img Keane made his observations during the ITV4 documentary with Patrick Vieira, screened earlier this week. However, Moyes said any communication with Ferguson tends to be instigated by him – and that his predecessor does not even visit the dressing room to see his old team on match days. last_img read more

OHP: Three Dead in Shooting at Walmart in Oklahoma

first_imgAt least three people are dead after a shooting inside a Walmart in Duncan, Oklahoma today.According to police, shots first rang out in the store located about 80 miles south of Oklahoma City around 10:00 this morning. It’s currently unknown if any other people have been injured at this time or if an arrest in the case has been made. Another #Walmart shooting, multiple fatalities reported. Developing NOW https://t.co/O5d9qn2Moe— Nancy Grace (@NancyGrace) November 18, 2019 Red River Tech and Duncan Public Schools were put on lockdown due to the incident. Red River Tech remains on lockdown, however, Duncan Public Schools are no longer on lockdown.last_img

Giwa Vows to Assume Duty at NFF, Sacks State FA Chairmen

first_imgOlawale Ajimotokan in AbujaThe tension in Nigeria football was heated up yesterday following the declaration by Jos-based club owner, Chris Giwa, to assume duty today as the ‘validly elected’ president of Nigeria Football Federation (NFF) .Giwa also sensationally dissolved all the 36 states football association boards. He said the congress was sacked because they were put in place by an illegal NFF.Giwa is contesting the leadership of the NFF with Amaju Pinnick whose election is backed by FIFA.A High Court sitting in Jos, presided over by Justice Musa Kurya, had last Friday annulled the September 30, 2014 election in Warri, which was won by Pinnick. Giwa, whose appeal was dismissed by the Court of Arbitration in Sport (CAS) rubbished the latest warning issued by FIFA to him to stop parading himself as NFF president.He said Article 1.1 of FIFA statute and Article 1.1 of NFF statute recognised the supremacy of both the Swiss and Nigerian laws in matters of civil disputes.He denied that CAS ever dismissed his appeal, saying rather that the body based in Lausanne, Switzerland only rejected jurisdiction over the matter, which was to challenge FIFA letter of August 29, 2014 over the NFF election.“Since CAS did not rule that our election of August 26, 2014 was invalid, and also that FIFA could not be said to have recognised the purported election of 30th September 2014, in which Pinnick emerged, our election being the first in time subsists and takes precedent over the Warri election,” Giwa told bewildered reporters at his press briefing in Abuja yesterday.He said that the order of Justice Kurya which purportedly annulled the Warri election gave ground for the suspension of the state FAs as all actions undertaken by the Pinnick board are illegal and unknown to law.Giwa said the state caretaker committee will be constituted today in Abuja after an Extra Ordinary Congress called by his factional group.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

City Thrash Watford to Top Premiership Table

first_imgAguero wasn’t finished inflicting pain on Marco Silva’s men and he struck again four minutes later, tapping in after Watford goalkeeper Heurelho Gomes couldn’t hold David Silva’s cross-shot.Having notched his fifth goal of the season, Aguero turned provider in the 38th minute, slipping in Gabriel Jesus for a nonchalant finish.It was City’s 12th goal of a memorable week that also included a 5-0 thrashing of Liverpool and a 4-0 win at Feyenoord.Nicolas Otamendi added to that tally when he headed in the fourth from Silva’s cross in the 63rd minute before Aguero completed his 10th City treble with nine minutes left.There was still time for Raheem Sterling to win and convert an 89th-minute penalty to cap City’s swaggering display.“It was so good. Especially after an away game in the Champions League. The way we played as a team, we are so happy,” Guardiola said.“I was lucky to manage Barcelona with many outstanding performances but this week has been a lot of goals. We have found our game.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Manchester City stormed to the top of the Premier League as Sergio Aguero’s hat-trick inspired a 6-0 demolition of Watford, while Philippe Coutinho’s return couldn’t lift Liverpool in a 1-1 draw against Burnley saturday.With previous leaders Manchester United not in action until today’s clash with Everton, City had a chance to move three points clear of their title rivals.Aguero ensured they did just that as the Argentine forward maintained his mastery of Watford at Vicarage Road.Pep Guardiola’s side took the lead in the 27th minute when Aguero headed in from Kevin de Bruyne’s free-kick for his seventh goal in five games against the Hornets.last_img read more

Injured Penn State guard Frazier leads from sidelines

first_img Facebook Twitter Google+ Tim Frazier was considered a coach on the floor for Penn State, but this season, he’s been a coach from the sideline.Last year, the point guard put together one of the Nittany Lions’ finest single-season performances, garnering first-team, All-Big Ten honors. But Frazier tore his left Achilles tendon in PSU’s 25-point loss to Akron on Nov. 18, an injury that took him off the court for the rest of the year.“To hear the news you can’t play the game you’ve been playing for your whole life, it was devastating,” Frazier said. “I honestly didn’t know how to handle it.”The Nittany Lions haven’t figured it out, either. After Frazier went down in the fourth game of the year, Penn State (8-13, 0-9 Big Ten) has sunk to the very bottom of the conference, and is still searching for its first conference win of the year. Guards D.J. Newbill and Jermaine Marshall, both averaging 15 points per game or more, have picked up some of the scoring slack, but the Nittany Lions still miss their star.Last season, Frazier topped the Big Ten with 6.2 assists per game and finished second in the league at 18.8 points per contest. His 2.4 steals per game ranked second in the conference and at just 6 feet, 1 inch, the point guard led PSU with 4.7 rebounds per contest.AdvertisementThis is placeholder textFrazier’s only the third Nittany Lion ever to lead PSU in scoring, assists, rebounding and steals in the same season. With him sidelined, the Nittany Lions are next to last in the Big Ten in team offense.“He makes everyone’s job easier,” said associate head coach Eugene Burroughs in the Big Ten coaches’ teleconference on Monday. “We saw last year that he’s one of the best guards in the conference. You take that away from a team that’s really dependent on his ability to score and run your offense, his void is hard to fill.”Before the season, Frazier was listed as a watch-list candidate for both the John R. Wooden and Naismith Player of the Year awards, as well as earning a preseason all-Big Ten selection.Now the senior has brought his leadership to the Penn State bench, where he sits next to head coach Patrick Chambers and sees basketball from a new point of view. The game has slowed down for Frazier, he said, and his new perspective is allowing him to keep contributing to the Nittany Lions.“It’s been a different aspect,” Frazier said. “I feel like it’s been a great experience for me to watch it from the sideline.”Senior guard Nick Colella said Frazier is constantly on the PSU sideline during practice, and often pulls his teammates aside to tell them what he sees. Frazier has helped mentor Newbill, who has taken over at the point guard position since Frazier ruptured his Achilles. Frazier is even running drills in practice, Chambers said.The projected recovery time for Frazier’s torn Achilles was 6-12 months, he said. Now 11 weeks removed from surgery, he’s out of the walking boot and rehabbing, he said. The workouts have begun, including both upper-body and leg-strengthening exercises.And the scar looks good, too, the medical staff tells him. The recovery’s going smoothly.“I know he’s motivated to get back to work,” Colella said. “I can see the drive on his face right now – we’re at practice right now.”But whether Frazier can return to Penn State next season has yet to be determined. After this season, Frazier and the Nittany Lions will file paperwork with the NCAA in hopes of receiving a medical redshirt and a fifth year of eligibility.Should the NCAA not grant the request, Frazier will need to be prepared for workouts leading up to the NBA Draft in June.“If that was the case, I know that I have great strength and conditioning (coaches) as well as trainers as well as great coaches that will train me and prepare me for that,” Frazier said. “I’m already on my 11th week and I feel great so I don’t think that would be a problem.”But Frazier likes his chances of obtaining the redshirt, especially considering he only played three games and six minutes of basketball this season.If Frazier does return to Penn State for a fifth year – which he said he would choose over starting his professional career – Chambers doesn’t expect his star guard to be the same player he was when his season ended two and a half months ago.“I think he’ll be better. When you’re a fifth-year senior and when you’re sitting out and you’re next to the head coach most of the time, you start to see things that I see,” Chambers said. “And he’s starting to really understand a lot more.“I think we’re going to see a new and even more improved Tim Frazier.” Comments Published on February 4, 2013 at 11:42 pm Contact Phil: pmdabbra@syr.edu | @PhilDAbblast_img read more

USC nets victory in Enfield’s home debut

first_imgUSC’s 95-79 win over the Cal State Northridge Matadors did not come as a surprise for new head coach Andy Enfield and his run-and-gun squad, but there was a certain atmosphere and excitement at the Galen Center on Tuesday for this year’s Trojan basketball team that had to have come as a shock for those familiar with past teams.Off and running · USC senior guard Pe’Shon Howard (10) helped lead a fast-paced Trojan attack in Tuesday’s 95-79 victory over Cal State Northridge at the Galen Center. Howard finished with seven points and two assists. – Chris Marquetti | Daily TrojanIn recent years, USC has been excruciatingly methodical, so Trojan faithful were more than pleased to see an early alley-oop dunk from freshman guard Julian Jacobs and a series of aggressive drives from sophomore guard Chass Bryan. Those types of plays came early and often for USC (1-1) on Tuesday night, and they will only increase in volume and efficiency as the season matures. Even more exciting for some was the newly founded basketball student section, the “Enzone,” which did its best to express disagreements with the referees all game long while wearing matching “Enzone” T-shirts. Still, the victory did not come easily against an experienced Matadors squad, as the Trojans were sloppy at the beginning with eight first-half turnovers and a series of ticky-tack fouls that frequently put Northridge at the foul line, allowing them to remain in contention. The Trojans were also hurt in a major way by a rough start from junior guard Byron Wesley, who made just two of eight shot attempts in the first half. He was still able to get to the free throw line, but in general the Trojans seemed over-anxious to make plays early, and were fortunate to enter the half leading by 11. “I missed a lot of easy shots, but I know when my shot’s not falling, I can do a lot of other things on the court,” Wesley said. He finished with 16 points and 11 rebounds. Out of the halftime break, Enfield saw more of the same, as a few erratic turnovers, including an ill-advised lob from Bryan, allowed the Matadors to cut the deficit to five a few minutes into the second half. USC would eventually settle down, though, thanks in large part to freshman forward Nikola Jovanovic, who made his first five shot attempts, including a pivotal three-pointer that halted a Northridge run early in the second half. Leading by just seven with roughly 10 minutes remaining, the Trojans seemed to finally find their stride, ignited by a three-pointer from senior guard J.T. Terrell that bumped the USC lead back up to double digits. Fans were surprised by the notable absence of Terrell in the starting lineup following his 20-point performance in the season-opening loss against Utah State. Enfield said the decision to sit Terrell out was because of academic reasons. “Playing time is earned in practice and in games,” Enfield said. “[Terrell] started our first game because he earned it. It’s a game-by-game decision. The way I coach, no one’s guaranteed minutes—you have to earn it on the court and in the classroom” Still, his shot proved to be the turning point, and he showed no signs of contempt for the coaches’ decision. A three from Jacobs and several layups from senior guard Pe’Shown Howard were enough for the Trojans to build up a 16-point advantage that they never came close to relinquishing for the remainder of the game. Though the level of execution seemed to fluctuate for the Trojans all game, one thing that was constant was the change in the players who were on the court. Enfield, still getting a feel for his roster, used 12 players against the Matadors. “We’re still trying to figure out everyone’s role on the team,” Wesley said. “We have a lot of talented guys ready to play.” Senior center Omar Oraby, who seemed eager to answer critics who thought he would not be able to fit well into Enfield’s fast-paced system, played with dominance, consistently muscling his way down low both on offense and defense. The Cairo, Egypt native punctuated his stellar performance with a three-point play amid multiple defenders late in the second half. His three points put the Trojans up by more than 20, and from there it was a cakewalk to the finish line for USC. Oraby finished up with 17 points and shot seven-for-eight from the field, one of his most productive offensive nights since he transferred to USC from Rice before last season. USC plays next on Friday at 8 p.m. against Northern Arizona. The game will be broadcast on the Pac-12 Networks.   Follow us on Twitter @dailytrojanlast_img read more

Rihanna takes shinning bright like a diamond to a whole new…

first_imgThe Barbadian-born international pop star has teamed up with Swiss luxury jewellery and watch designer Chopard to introduce the new “Rihanna Loves Chopard” collection of high jewels that will debut in stores this summer.The collection of pieces are set to blend urban chic with classic glamour.“Rihanna and I collaborated closely on the collections, so you can feel her unstoppable energy, strong creativity, and inherent sense of design in every essence”, said Swiss jeweler’s co-president and creative director Caroline Scheufele.“With her unique style, she redefines the way people see and wear jewelry” Scheufele said in a statement from the company.“I have always been in love with Chopard’s exquisite jewellery, so to actually design collections with them is something I still can’t believe,” Rihanna said. “It was a really incredible process and I learned so much. I cant wait for everyone to see it”.The first collection will feature nine pieces crafted from 18 carat rose ethical gold mixed with a jungle-green shade hand-picked by Rihanna, will be unveiled in full later this month and will be available to purchase in June.The second range- The Haute Joaillerie collection- will debut next month as part of the 70th anniversary of the Cannes Film Festival, to celebrate Chopard’s 20th year as the official partner of the world-famous movie event.last_img read more

Jamaica’s Health Minister Orders Review of Security at Public Hospitals

first_imgHealth Minister Dr. Christopher Tufton says an audit of security protocols at some public hospitals will be carried out by the Jamaican government.According to Tufton, the audit, to be conducted shortly, will be done at several institutions located in areas where there are incidents of gang related violence.Reassure health workers “At the health care level, we have to do more to reassure our workers and to ensure you feel safe in carrying out your duties,” he told health workers at a recent event in the western parish of St. James.Tufton said while there are ongoing discussions at the policy level to resolve this issue, the audit is one of the initial measures being undertaken to ensure the safety of health workers in these facilities.“The reality is some locations are riskier than others. We have to assess what we already have in place and what we need to put in place to enhance the sense of personal security of the individuals who work in these institutions. We have to also ensure the security of the infrastructure that’s so critical to the citizens of the community,” he said.Over J$100m spent on hospital securityThe Health Minister said the government now spends over J$100 million annually on contracting private security for public health facilities and the audit will seek to provide a tailored ‘needs assessment’ for these public facilities.The hospitals include the Kingston Public Hospital, the Cornwall Regional Hospital, Savanna-la-Mar Hospital and St Ann’s Bay Hospital. The minister is urging healthcare workers undergoing psychological trauma to seek counseling. He said medical personnel in public facilities should at all times be able to function and make decisions uninfluenced by external forces.Between January and April of this year, the Health Ministry says hospitals treated close to 5,000 trauma cases. These included over 500 stab wounds, close to 280 gunshot wounds and 3,944 injuries due to road crashes.last_img read more