Falling equity markets are dragging funding at four of the Netherlands’ five largest pension funds down to the 100% mark.The official ‘policy’ coverage for the €40bn metal scheme PME, as of the end of August, has dropped below 100%, which disallows it from transferring pension rights for leaving participants.Policy funding, the criterion for indexation and rights cuts, is calculated using a scheme’s average coverage over the previous 12 months. PME’s policy funding now stands at 99.8%, while its current coverage is 96.1%. Current funding at the large civil service scheme ABP (98.1%), the healthcare pension fund PFZW (96%) and the metal scheme PMT (96.4%) has also dropped below 100%, but their policy coverage remains slightly above this level.According to Mike Pernot, an actuary at Aon Hewitt, coverage ratios for Dutch pension funds over the first three weeks of this month fell by 2 percentage points on average to 100%.For now, the lower funding will only affect value transfer.From 2017, however, schemes’ coverage figures will serve as the basis for updating recovery plans, which must spell out how pension funds expect to raise their funding ratios to as much as 125% over the next 10 years (depending on their asset mix).None of the more than 150 recovery plans submitted to regulator last July mooted a rights discount as a means of shoring up funding.A pension fund, to recover on schedule, must apply rights cuts only if its coverage ratio falls below 95%.The critical funding ratio, however, depends on a scheme’s investment policy.Pension funds with more offensive investment target – having a relatively large equity allocation, for example – need to apply a rights discount at a funding of approximately 90%. BpfBouw, the €48bn pension fund for the building sector, is the only large scheme that managed to keep its funding well above 100%. As of the end of August, its policy coverage stood at 112.9%.
BROOKVILLE, Ind. — White’s Farm Flea Market in Brookville recently announced that it is expanding Twilight Tuesday.Last year, Whites held Twilight Tuesday on certain Tuesday’s.This year, they will be holding it every week.Twilight Tuesdays are 4:00 pm to dark every Tuesday beginning today and running through October 10.
Viewers on DStv and GOtv will enjoy another great weekend of football action as the 2020/21 Premier League, La Liga and Serie A seasons continue with matches scheduled for September 18 to 21, 2020.The pick of Premier League matches this weekend is the meeting of Chelsea and Liverpool at Stamford Bridge on Sunday, which will air live at 4:30pm on SS Premier League. The Reds completed a league “double” over the Blues last season, with the teams’ most recent meeting a 5-3 win for the Merseyside club in July.Liverpool supporters have been concerned at their club’s relative lack of action in the transfer market (certainly compared to Chelsea, who have recruited heavily and brought in world-class talent such as Moroccan attacking midfielder Hakim Ziyech, for example), but manager Jurgen Klopp insists he prefers working with a smaller group of players.Elsewhere, Manchester United will open their campaign with a clash at home to Crystal Palace in the early-evening kick-off on Saturday on SS Premier League at 5:30pm.It will be the first chance for new Red Devils signing Donny van de Beek to have a taste of competitive English football.Also on Saturday, Everton will face West Bromwich Albion at 12:20pm, while Leeds United will face Fulham at 3pm, with the day closing off with Arsenal vs West Ham United at 8pm, all on SS Premier League. The Premier League matches for the weekend will continue on Sunday with Southampton vs Tottenham Hotspur at 12pm, Newcastle United vs Brighton & Hove Albion at 2pm and Leicester City vs Burnley at 7pm, all live on SS Premier League.On, Aston Vila vs Sheffield United will air at 6pm and Wolverhampton Wanderers v Manchester City at 8:15pm, both live on SS Premier League.This weekend’s La Liga sees the return to action for champions Real Madrid, who open the defence of their title with a match away to Real Sociedad at Sam Sebastian on the evening of Sunday, showing live on SS La Liga, SS GOtv La Liga and SS GOtv Football at 8pm.La Liga is packed this weekend with other exciting matches airing live on SS La Liga and SS GOtv La Liga.Getafe vs Osasuna will air at 8pm on Friday, while Villarreal v Eibar at 3pm and Celta Vigo vs Valencia at 8pm will both air on Saturday. On Sunday, Huesca will clash with Cadiz at 3pm and Granada will face Deportivo Alaves at 5:30pm.GOtv will crown the weekend matches with Real Betis vs Real Valladolid at 8pm on Monday.The headline match from Italy’s topflight this weekend sees champions Juventus open the defence of their title with a match at home to Sampdoria in the late kick-off on Sunday at 7:45pm on SS Football, SS Variety 3 and SS GOtv Select 1.All eyes will be on new manager, Andrea Pirlo, who replaced Maurizio Sarri at the head of the Bianconeri in the offseason.RelatedPosts Ighalo: My best moment as ‘Red Devil’ EPL: Chelsea, Liverpool in cagey duel NBC Code and non-exclusivity provision, by Kunle Osisanya-Afolabi Another key game this weekend will give Nigerian striker Victor Osimhen the chance to make his competitive debut for Napoli when they face Parma on Sunday afternoon, having joined the club for a huge fee from Lille a few weeks back.This will air at 11:30am live on SS Football, SS Variety 3, SS GOtv Select 1 and SS GOtv Football.SuperSport remains the only platform to get English commentary from the legendary La Liga.Tags: DSTVGoTVPremier LeagueStamford Bridge read more
At this time they are still investing the cause of the power outage, but hope to have power restored by 7 a.m.Hydro lists the outage as affecting the following area: East of RD 275 , South of RD 246 , North of NORTH BANK RD, West of 79th ST.We will post more updates as they become available. You can also get updates at www.bchydro.com/outages- Advertisement –