29 Sep

Swiss BVK members threaten to drop scheme due to rate changes

first_imgPeople above the age of 48, once the new parameters are applied from 2017, will receive a monthly top-up if they remain with the BVK for another five years. Those that have already reached the age of 60 that year “will be guaranteed a minimum pension based on a theoretical retirement a day before the lower conversion rate takes effect”, a spokesman for the pension fund told IPE. “This is to prevent people being forced into early retirement because of the measures taken.”The BVK’s spokesman said there was “a lot of pressure on the young people who are getting less interest on their assets today because the money is needed to finance pension promises made with a too high conversion rate”.Many of the authorities that are currently members of the BVK, however, are now criticising the move, and some are even mulling an exit.The University of Zurich has now established a working group to look into the effects the changes will have on its 4,500 employees in the fund.The university said in a newsletter to its members that the “drastic changes allow the University to terminate the contract with the BVK early per year-end 2016 and to join another pension fund”.It put together a panel of experts to look into “all possibilities”, including “getting offers from other Pensionskassen”.Another body in Zurich, the VZGV – an advisory board to municipalities made up of former municipal and city employees – has also commissioned an independent study with the consultancy Dipeka that will be used to advise municipalities and cities in the canton.The study’s author, industry expert Boris Morf, said the cut in the technical parameters was an “adequate response to future developments” and that the application of a generation table instead of a periodic table was “sensible” and “positive, especially for young members.He added that “most of the providers are confronted with the same problems as the BVK, and members have to be careful not to get out of the frying pan and into the fire”. The University of Zurich has commissioned an independent study to determine whether recent technical-parameter changes will affect the pension fund’s ability to fulfil its obligations.The fund (BVK) – for local entities and other authorities in the canton of Zurich – decided last summer to make major cuts, lowering the conversion rate to 4.8% and the discount rate to 2%. Other pension funds in Switzerland have taken similar steps in recent years, but the BVK’s amendments, while welcomed by many experts, were seen as being particularly drastic.The BVK is investing CHF950m (€775m) in total to soften the effects of the changes to the technical parameters.last_img read more

26 Sep

Mourinho gives update on Tottenham’s transfer plans

first_img “That’s for sure, but sometimes when you say young guys, people that are not playing a lot and you connect FA Cup (is) not important, FA Cup the right space to give opportunities to players, that’s not the case. “FA Cup (is) very important, by the history of the club, by the connection, by the memories, by what it means for everyone at the club, every fan, the FA Cup is very important. “So these young players coming in for the match at Middlesbrough doesn’t mean the FA Cup is not important for us.” FacebookTwitterWhatsAppEmail分享 Jose Mourinho says Tottenham will be “intelligent” in the January transfer window and there will be no quick fixes. Mourinho has repeatedly said that he will not be overhauling his squad this month and that any business could be dependent on players leaving. Tottenham Hotspur manager Jose Mourinho during the Premier League match at Carrow Road, Norwich. He walked into the club with his eyes wide open and insists he is on the same page as chairman Daniel Levy. “That was very clear for me and is very important for me to understand that before I come,” he admitted. “That’s very simple but in the end what I want is the same as everyone in the club wants. “It is not I want something and Mr Levy wants another thing. We want the best for the club. That’s obvious and this is not our last transfer window. Loading… Promoted ContentSome Impressive And Almost Shocking Robots That Exist10 Most Praised Historical MoviesWhat Happens To Your Brain When You Play Too Much Video Games?Pretty Awesome Shows That Just Got Canceled8 Scenes That Prove TV Has Gone Too FarCouples Who Celebrated Their Union In A Unique, Unforgettable Way10 Gorgeous Asian Actresses No Man Can Resist10 Phones That Can Easily Fit In The Smallest PocketBest & Worst Celebrity Endorsed Games Ever Made5 Of The World’s Most Unique Theme Parks20 Amazing Facts About The Daenerys Of The House Of Targaryen8 Things You Didn’t Know About Coffee “So this is not our last transfer window. Mourinho insists he and chairman Daniel Levy are on the same page (Peter Byrne/PA) “We are going to have to try to be intelligent and we have to try to make the right decisions, not just for now, but for the development of a cycle.” Although he is accepting of the situation, that is not to say he does not want to add to his squad. “There is not one manager in the world that is not always looking for more,” he said. “This is our first transfer window, not the last. We are going to have one in the summer, we are going to have one in 2021 January, we are going to have another one in the summer of 2021. “We always want more. You have three goalkeepers, you want four. You have five strikers, you want six. That’s our nature. “But of course I understand the situation and let’s see what we can do and we have to see if we do something, it’s something that we do not under pressure, it is something that we do also for the future.” Spurs could do with some additions as they are down to the bare bones for Sunday’s FA Cup trip to Middlesbrough. Harry Kane, Tanguy Ndombele, Ben Davies, Danny Rose and Hugo Lloris are all injured and the majority of those that do not have injuries have played three games in six days over Christmas. Mourinho has admitted he is likely to call on youth at the Riverside. “Everybody’s going to be involved,” he said.  “If you go to our squad and no Rose, no Davies, no Lloris, no Kane. “I don’t know if Eric Dier will be ready but he is still to come back. “When you say no, no, no, no, no you have to say (Oliver) Skipp, (Japhet) Tanganga, (Troy) Parrott, the young boys in.last_img read more

28 Aug

Ghana gets fitness boost as quartet return to training

first_imgAll four Ghana players, who missed the Black Stars two training sessions, returned to training with the side on Tuesday.Isaac Vorsah, Anthony Annan, Rabiu Mohammed and Albert Adomah all trained at the Black Stars training camp in Abu Dhabi.Their return to training is a boost for the Black Stars who start their 2013 Africa Cup of Nations on Sunday against DR Congo.The four players suffered various degrees of injuries following the friendly matches against Egypt and Tunisia.But Adomah and Mohammed trained with the full squad during Thursday’s training session.The Ghana medical team monitored the recovery of Vorsah and Annan who jogged on Tuesday. Meanwhile, striker Richmond Boakye Yiadom limped off from training because of an ankle sprain.Doctors are confident he will also be fit for the start of the competition.last_img read more