first_imgSPF, the €14.5bn pension fund for the Dutch railways sector, is to introduce three variants for accrual in a bid to keep pensions provision affordable for each of its 69 participating companies.It said companies would be given the choice between different accruals against different contributions within its collective defined contribution arrangements.The three alternatives are SPF’s response to the increasing price of pensions arising from low interest rates, as well as the accounting rules of the new financial assessment framework (nFTK) and the ultimate forward rate (UFR) as part of the discounting mechanism for liabilities.The most generous option offers an annual pensions accrual of 1.875% against a contribution of 24% and a franchise – the amount exempt from both pensions accrual and premium payment – of €12,642. Both other alternatives provide for an accrual rate of 1.563% against a 20% premium but under franchises of €12,642 and €13,545, respectively. Currently, SPF charges all participating employers a uniform contribution of 20% for an annual accrual of 1.875% and against a franchise of €13,449.The new rules are set for the next five years, but the social partners have decided that the accrual rate could be adjusted earlier – due to changing interest rates, for example.SPF said it would also adhere to new rules for indexation allowing for part or full inflation compensation if funding is at least 110% or 124.5%, respectively. As of the end of October, SPF’s coverage ratio was 109.9%.As a consequence, the scheme said, participants cannot expect full indexation for the foreseeable future.The social partners in the railways industry have agreed that any future rights cuts will be no more than 1.5% per annum. SPF has 72,275 participants in total, with more than 29,000 active workers and 25,290 pensioners.Recently, the €5bn pension fund PNO Media announced that it would introduce a contribution based on the age of a company’s staff, rather than charge an average premium, with the view to becoming more attractive as a pensions provider.For the same reason, it will also add defined contribution arrangements to its existing defined benefits plans.last_img read more


first_imgShare Related Articles StumbleUpon The SPFL has announced the extension of its partnership with Betfred for the betting operator to remain as the primary sponsor of the Scottish League Cup, for a further year. The extension was confirmed by SPFL Chief Executive Neil Doncaster at the league’s general meeting this morning at Hampden Park. The deal represents another significant investment into Scottish football, the country’s fans look forward to this Sunday’s highly-anticipated Betfred Cup semi-finals, with Hearts taking on holders Celtic at Murrayfield, and Aberdeen facing Rangers at Hampden Park.Doncaster commented on the extension: “We are delighted to announce this sponsorship extension with Betfred as we build up to this Sunday’s Betfred Cup semi-finals at BT Murrayfield and Hampden Park.“Betfred have fully embraced the new competition format since its inception in 2016 and we look forward to continuing our partnership until at least 2020.”Betfred Owner Fred Done, added: “I feel that the revamped Betfred Cup has been a tremendous success and I had no hesitation in agreeing an extension to the current deal.”It follows on from the success of an exciting and innovative new format, which was introduced at the beginning of season 2016/17. This revamp included a group stage with a ground-breaking bonus point system beginning in the summer months, a new broadcast partner in BT Sport, increased revenue for clubs and a pre-Christmas final allowing for the re-introduction of the winter break.Betfred, which was established in 1967, has since grown to a 1,400 betting shop and vast online business. The company has a strong pedigree of sporting sponsorships including existing agreements with the Rugby League Betfred Super League and Betfred World Snooker Championship. Share Betfred counters Oppenheimer bid in race to rescue Phumelela August 26, 2020 Submit Betfred extends World Snooker Championship deal until 2022 August 17, 2020 Betfred boosts US racing coverage with XB Net deal renewal August 10, 2020last_img read more


first_imgShare on: WhatsApp The winner of this tournament will represent Zone 5 at the FIBA Africa Champions Cup 2017 that will be hosted in Tunisia in December.The women’s round robin tourney continues, with Kenyan sides Equity and KPA, and Ugandan sides KCCA and UCU favourites to snatch the top two places.The highlight in Wednesday’s round robin games saw Maureen Amoding grab 39 points as KCCA Leopards annihilated Horseed 139-35. Kenya’s Equity edged APR 61-51 and KPA routed Don Bosco 93-43.The top two teams from this tournament will represent Zone 5 at the FIBA Africa Champions Cup Women 2017 set to be held in Angola from November 3-12. Men: Group stagesGROUP A – City Oil – Uganda; Patriots – Rwanda; Savio – Tanzania; Hawassa City – EthiopiaGROUP B – Betway Power – Uganda; Gondar City – Ethiopia; A.B.C – Tanzania; K.P.A – KenyaWomen (round robin)UCU,  KCCA,  Equity, KPA,  Horseed , APR, Don Bosco Action as City Oilers beat Patriots 77-73 on Tuesday. City Oilers City Oilers are expected to power their way into the semis when they take on today. PHOTO @cityoilersTODAY: Women round robinKPA 85 Horseed 32Don Bosco 91 KCCA 39UCU 88 APR 50Men’s quarterfinalsPatriots 68 ABC 60KPA 66 Savio 48City Oilers 98 Gondar 52Power 84 Hawassa 41Semi-finalsKPA vs City OilersPatriots vs PowerKampala, Uganda | THE INDEPENDENT |  If Monday’s results at the FIBA Africa Zone 5 Club Championships are anything to go by, Ugandan sides Power and City Oilers will have an easy march into the semi-finals when they face Ethiopian opponents in today’s quarterfinals.Defending champions City Oilers have a date against Gondar at 7pm while Power face Hawassa City at 9pm at Lugogo Arena that hosts quarterfinal games from 3pm.City Oilers are unbeaten, having  won their hardest test so far on Tuesday, a 77-73 win over Rwanda’s Patriots.Mandy Juruni’s side should have too much firepower for Gondar, who were hammered 111-31 by the other Ugandan representative Power.Power, who are also unbeaten,  take on Hawassa City. Hawassa were mauled 111-41 by City Oilers in their last game.last_img read more


first_imgChief Buckner explained that hundreds of people were at the parking lot for a celebration organized by a person in the community.He added that they are looking into whether there could have been more than one shooter. However, there is no further threat to the public, Buckner said.Syracuse Mayor Ben Walsh, who was at the scene following the incident, said the city did not approve the party and would not allow a gathering of that size, as a result of current restrictions from the pandemic.“We’re going to have to look into how it came to be,” Walsh said.Officers initially responded to reports of a stolen car in the area, just before 9 p.m. Upon arrival, people starting running toward them, saying there was a shooting.Officers did not hear any gunshots, and no arrests have been made, says Buckner. Police in Syracuse, New York, say nine people were shot during a large gathering in a parking lot on Saturday night.According to Police Chief Kenton Buckner, a 17-year-old was shot in the head and is in critical condition.Meanwhile, the other eight victims are expected to survive. Five of the individuals are women and four are men.Syracuse Police released this list of the victims and their injuries:-17-year-old male, shot in the head-23-year-old man shot in the groin and leg-29-year-old man shot in the neck-20-year-old woman shot in the leg-18-year-old woman shot in the leg-19-year-old woman shot in the leg-37-year-old woman shot in the shoulder-22-year-old man shot in the leg-53-year-old woman shot in the back and midsection The area of the shooting has been secured and the crime scene is being processed. Westside residents can leave their homes and please report any information about the shooting to the Syracuse Police Department at (315) 442-5222.— Syracuse Police Department (@SyracusePolice) June 21, 2020last_img read more