UK regulator suggests new scheme-sponsor separation mechanism

first_imgThe scheme is poised to enter the PPF, with benefit cuts of 10% for members who have not yet retired.RAA deals have also been struck in full or in principle with Halcrow and Tata Steel UK, but in these cases the arrangement involved the creation of a new scheme that will operate outside the PPF.In TPR’s mind the proposed new mechanism would be separate from and additional to its power to wind up a scheme when it becomes clear the scheme may never be able to meet its funding obligations.On its wind-up power, TPR called for these to be revisited “to allow us to take into account all our objectives which are relevant to DB when considering to exercise it”.In its response to the government’s DB green paper, the regulator also called for more powers in relation to scheme funding and information gathering, and for the requirement for a trustee board chair’s statement to be extended to DB and hybrid schemes.“Being able to set clearer standards and to shift our dynamic with all of our regulated community so that we can monitor against those standards on an ongoing basis, not just when a breach is detected, is essential to our being a more proactive regulator,” it saidIn relation to scheme funding, TPR advocated it being given the power to set binding standards in detailed codes or guidance, supported by a legally enforceable “comply or explain” regime.The regulator also said there was a case for more powers to encourage employers to make higher deficit repair contributions where they can afford to do so.TPR called for more comprehensive interview and inspection powers for information-gathering purposes, and the ability to impose civil penalties in addition to criminal penalties for non-compliance with information requests.On consolidation, TPR said it supported a voluntary approach. Extending the requirement for a trustee board chair’s statement combined with a legal requirement for trustees to update on what they are doing to control costs could provide a significant impetus, it added. The UK pensions regulator has floated the idea of allowing stressed pension schemes to be separated from the employer on the basis of scheme viability rather than the risk of employer insolvency.Responding to the government’s review of defined benefit (DB) scheme regulation, the Pensions Regulator (TPR) said it might “be worth exploring” whether there was room for a mechanism allowing for such a separation.Currently, UK law allows for a sponsoring employer to cut its financial obligations to a scheme if this would avoid the company becoming insolvent. The statutory mechanism for this is a regulated apportionment arrangement (RAA), which must be approved by TPR and the Pension Protection Fund (PPF) and satisfy certain conditions.RAAs are rare, but have grabbed headlines in the past few months. The UK arm of household appliances company Hoover agreed an RAA , which was at risk of insolvency as a result of the funding needs of the pension scheme.last_img read more

DSME Wins VLCC Order from Pan Ocean

first_imgSouth Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has secured an order for a very large crude oil carrier from compatriot shipping company Pan Ocean.The order comes at a very challenging time for shipbuilding business and represents the fist oil tanker construction contract secured by DSME this year.The 300,000 TDW VLCC will span 335 meters in length and it will be 60 meters wide. The shipbuilder said the newbuilding would be fitted with a scrubber as a means of complying with the IMO 2020 sulphur cap.The ship is scheduled for delivery by the third quarter of 2021.Commenting on the order, DSME said that due to the low oil prices, tanker orders are expected to pick up, adding that it is ready to take advantage of such a trend.So far this year, DSME has won USD 400 million worth of orders covering three ships, two shuttle tankers and one VLCC.To remind, back in February DSME penned a contract with Norwegian-based shipowner Knutsen NYK Offshore Tankers AS for the construction of two shuttle tankers.The 870,000 bbls shuttle tankers are expected for delivery in the second half of 2022. The construction contract includes options for additional units.World Maritime News Stafflast_img read more

Key admits blunder over euthanasia comments

first_imgKey admits blunder over euthanasia commentsONE News 27 Aug 2012Prime Minister John Key has backed away from his comments about euthanasia, saying his language on the sensitive issue was “a bit sloppy”. Key last week said “there is a lot of euthanasia that effectively happens in our hospitals”. The comment angered doctors who said euthanasia was never practised as it was the deliberate ending of life, and was illegal and unethical. The suggestion could seriously damage the trust people had in hospital care of the terminally ill, doctors said. Capital & Coast District Health Board head of palliative care Jonathan Adler said switching off a life support machine and allowing someone to die of natural causes was not euthanasia. Key today said his comments were made on talk back radio. “It was in the context of a wider discussion about a scenario where I think I am saying the same thing as those doctors,” he told Radio Live. “They use specific and arguably accurate legal or medical definitions and I was using a bit of a general term.” The Prime Minister said he was not suggesting doctors were doing anything illegal. read more

Bacolod starts 16-day enhanced quarantine

first_imgBusiness establishments permitted to operatein the duration of the ECQ is urged to provide means of transportation to theirworkers convenient to the schedule and point of origin and destination whilesocial distancing and health protocols shall be observed at all times. Meanwhile, all businesses and privatecommercial establishments other than those providing essential goods andservices shall be temporarily closed and shall suspend operations for theduration unless extended or shortened upon recommendation of task force. Essential government services and privateestablishments providing essential goods shall continue to operate with askeletal workforce and shall ensure the social distancing measures. Each village may utilize their vehicles toservice their constituents on a scheduled basis from a given point of origin tothe destination. Private transportation of any kind and mode may be allowedunder similar reasons, or when used in going to and coming from work at theestablishments permitted to operate under the order. BACOLOD City – Publicmovement will be restricted further here as the city starts todayenforcing enhancedcommunity quarantine (ECQ) untilApril 14. Under the ECQ, the city’s 61 barangays shallissue one home quarantine pass (HQP) to a member of a family of competent ageand discretion for each household. Any window time to the contrary is invalid.Exemption shall be made for those requiring medical assistance and for workersproviding essential services. Leonardia said that a daily 24-hour curfewshall be observed by the general public except for individuals with valid HQPswhich can be used only from 4 a.m. until 10 p.m. Mayor Evelio Leonardia announced the measurethrough Executive Order No. 26 on Friday, saying this is part of the preventivemeasure of the city government to curb the further spread of coronavirusdisease 2019 (COVID-19).  This city hasfive patients infected with the viral disease as of March 29. The HQP shall serve as access to the basicneeds of the household in purchasing or obtaining the provision for food,health, and other essential commodities, Leonardia said. All kinds and modes of public transportationshall be suspended except for any shuttle service that may be primarilyprovided for health workers and frontliners. LOOK: The City Government of Bacolod readies the food packs to be distributed on Monday [March 30] to more than 40,000 poor households, in line with the Emergency Food Assistance Program of the city, as Bacolod has been placed under Enhanced Community Quarantine [ECQ] from March 30 to April 14, 2020. Via Bacolod City PIO Private establishments to remain operationalare health services, food and medicine productions, sale of essentialcommodities at public markets, supermarkets, groceries, convenience stores,rolling stores, sari-sari stores,fruit stands, water refiling stations, take out and delivery services ofrestaurants, fast food chains, and other food establishments, hotels, inns,pension houses, lodging places, banking, money transfer services, pawnshops,remittance centers, public utilities, garbage collection services, streetcleaning personnel, private volunteers for fire brigades and emergency service,gasoline station, funeral services, priests and ministers requested toadminister last rites and sacraments, laundry shop, media outlets, shippingcompanies and allied services for cargo handling, forwarding, and delivery,veterinary clinics, medicine shops, agricultural shops, seaport operations forgoods and cargoes, slaughterhouse, food-related products, warehouse operations,food preservation, delivery services out of town, public work projects forroads and bridges of the national and local government, legal services, medicalhealth workers, and other establishments that may be allowed by the city./PN Work in the government office shall be limitedto medical, disaster preparedness, security, social services, and financialtransactions only. Leonardia reiterated the HQP is not for sale.It will not be transferable and the possessor of such shall carry it at alltimes while outside the household, with a valid Identification (ID) card. Hesaid that abuse in the use of HQP shall be subject to prosecution underapplicable laws.last_img read more

Cricket News Kolkata Knight Riders batsman Rinku Singh suspended by BCCI for 3 months

first_imgFurther, He has been removed from the current India A squad set to play a multi-day game against Sri Lanka A starting May 31, 2019. The BCCI will not tolerate such violations in the future and strict actions will be taken if a player is found violating the BCCI rules and regulations.Meanwhile, Kolkata Knight Riders didn’t qualify for the playoffs in the twelfth edition of the Indian Premier League (IPL) even after playing some good cricket at the start. Dinesh Karthik, who lead KKR is currently on national duty, playing the all-important World Cup. India will play its first game against South Africa on June 5.  For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: The Kolkata Knight Riders batsman, Rinku Singh has been suspended by the Board of Control for Cricket in India (BCCI) for three months after violating the rules and regulations written under the BCCI. In a press realese by BCCI, it was said, “It has been brought to the notice of the Board of Cricket for Cricket in India that First-class cricketer from Uttar Pradesh and India A player Mr. Rinku Singh participated in an unauthorized T20 tournament in Abu Dhabi.”Mr. Singh did not seek permission from the BCCI before taking part in the T20 league hence directly violating the BCCI rules and regulations. As per the BCCI norms, a player registered with the Board cannot play in any tournaments abroad without the Board’s permission. Mr. Rinku Singh therefore has been suspended with immediate effect for a period of three months starting June 1, 2019. Rinku Singh suspended by BCCI for three months. Rinku Singh played for Kolkata Knight Riders in 12th edition. Rinku has been removed from India A squad as well.  highlightslast_img read more

Windies Women crash to fourth World Cup defeat

first_imgTAUNTON, England (CMC) – West Indies’ misery at the ICC Women’s World Cup increased yesterday when they produced yet another docile performance against New Zealand Women to lose by eight wickets and crash to their fourth straight defeat.In what has become the norm during the campaign, the Caribbean side meekly surrendered for 150 all out off 43 overs after being sent in at Somerset County Ground and then watched helplessly as the Kiwis stormed to the target in the 19th over.Veteran opener Rachel Priest slammed the fastest-ever Women’s World Cup fifty en route to a stroke-filled 90 while Suzie Bates struck an unbeaten 40, to take their side to five points and fourth in the eight-team standings.West Indies, meanwhile, continued bottom without a point with virtually all hope extinguished of making the final four.Once again, their batting proved shambolic. Kyshona Knight, batting at number seven, top-scored with 42 while tail-ender Afy Fletcher finished on 23 not out and captain Stafanie Taylor and wicketkeeper Merissa Aguilleira both got 20.They were undermined by off-spinner Leigh Kasperek (3-17) and seamer Lea Tahuhu (3-39).West Indies’ promises of an improved showing came to nothing as they slumped to 10 for two in the fifth over with Tahuhu removing both openers cheaply.Left-hander Kycia Knight, who only arrived earlier this week as one of two injury replacements, had a miserable start to her campaign when she edged a low catch behind without scoring in the third over.And the in-form Hayley Matthews followed with one run added, top-edging a pull back to the bowler to depart for nine.Taylor and Chedean Nation (17) then revived the innings with a 43-run, third-wicket stand but the partnership required 71 deliveries and put the Kiwis under little pressure.The right-handed Taylor, without a significant score in the series, struck four fours in 32 balls at the crease while Nation hit three boundaries in a 43-ball knock.Kasperek returned to trap Taylor lbw, sweeping at the first delivery of a new spell and her dismissal triggered a slide where West Indies lost three wickets for no runs in the space of eight deliveries.Deandra Dottin’s horror run continued when she drove the very next delivery back to Kasperek to perish for a first-ball duck. In the next over, Nation’s vigil ended when she clipped leg-spinner Amelia Kerr to short mid-wicket where Amy Satterthwaite took a simple catch.Tottering on 53 for five in the 18th over, Kyshona Knight and Aguilleira combined in a 38-run stand to stablise the innings.The left-handed Kyshona, Kycia’s twin sister, looked composed in an innings lasting 60 deliveries and including seven fours while Aguilleira, in her 100th ODI, struck two fours and a six off 30 balls.The former skipper had just cleared the ropes at mid-wicket with Kasperek when she was unfortunately given out stumped off the next delivery even though replays showed her foot was grounded behind the line.Her dismissal signalled the end of the last bit of resistance. Shanel Daley missed a heave at off-spinner Satterthwaite and was bowled in the 33rd over for her second consecutive duck. Kyshona perished in the 40th over, bowled by pacer Holly Huddleston also missing a wild swing at 135 for eight.Fletcher struck four fours in her 37-ball innings but Anisa Mohammed (5) and Akeira Peters (0) failed to stay with her.In reply, Priest raced to her ninth half-century off a record 29 balls and all told belted 17 fours and two sixes, as she put on 120 for the first wicket with Bates who counted five fours off 43 deliveries.The right-handed Priest was in sight of her third career hundred when she picked out Daley at cover with a firm thump off off-spinner Mohammed in the 15th over.last_img read more

Swimming and diving to host pair of meets

first_imgMaking a splash · The men’s swimming and diving team improved to 3-0 on the season after its victory over Hawaii last weekend at home. – Mariya Dondonyan | Daily TrojanThe men’s and women’s swimming teams have an opportunity to gain momentum and confidence early in the season this weekend, when women’s swimming (2-1)  faces Oregon State  and No. 11 men’s swimming (3-0) takes on Cal State Bakersfield this Friday.The men are coming off a home opening win over Hawaii with a dominating 217-108.5 showing. USC started off strongly by winning the 400y medley relay. In addition, Junior Michael Domagala  won two events, the 100y free and the 200 IM.The Trojans’ dominance continued with a pair of sweeps. USC swimmers came in first, second and third place in both the 200y back as well as the 200y breast. The 200y free relay team  finished out the meet with a win as well.The Women of Troy also defeated  Hawaii 253-79, but fell to North Carolina State 190-144 last Saturday. Swimmers Chelsea Chenault, Anika Apostalon and Riley Scott each won events. Apostalon earned a NCAA “B” cut time in the 100y free, and Scott earned one in the 200y breast.Chenault herself is coming off a win in the 500y free last weekend. She has found herself in a leadership position on the team this year, as many upperclassmen are redshirting this semester.“I’ve had to step up more as a leader,” she said. “It’s huge for me to step in and help out because there are a lot of underclassmen on this team.”This inexperience served as a weakness last week when the Women of Troy lost to NC State, according to coach Dave Salo.“We have 13 freshman women, which is a huge class. They are learning what collegiate swimming is all about,” Salo said. “I don’t think I prepared them mentally for NC State.”Given that the team is young, there is much to improve on after the loss to the Wolfpack, Salo said.“We identified weaknesses last week on walls and turns,” Salo said. “They are sloppy and slow and not as strong as they could have been.”Though midterm season poses another challenge to the men’s and women’s swim teams, Salo has been able to keep them focused.“It’s a tough time with midterms,” Salo said. “The team is tired with training; their focus is hampered at times, but it’s part of my job to bark at them and get them back.”Nonetheless, Salo’s system ensures that the team and each swimmer is  growing every week.“We are looking at personal improvements over the season so far,” he said. “We want to see improvements in competition and focus and effort the following week.”The Oregon State Beavers  are struggling this year with a current record of 0-4. Their last match resulted in a 91-140 loss to Vanderbilt. Nonetheless, Chenault does not underestimate them.“They are a good team,” Chenault said. “We race them every year. We know what they have. We are growing each week. They are a capable team though, and its gonna be a really good meet.”Though CSU Bakersfield started out the season with a loss to Grand Canyon, their swimmers gained some momentum last weekend at the Malibu invitational.Salo said that the Runners have some good pieces, but he is confident that the men’s team will win Friday.“Bakersfield is a strong mid major and our guys are weak right now because some guys are sitting out for Olympics, but we’ve got a strong, good squad,” Salo  said.This weekend will be a test of how both the men’s and women’s teams have improved. Both matches are at 2 p.m. in the Uytengsu Aquatics Center on Friday.last_img read more

Regan Spencer keeps Syracuse field hockey afloat in 3-1 win over Boston College

first_img Related Stories Syracuse field hockey squeaks out 3-1 win over Boston College despite struggling to capitalize Published on September 9, 2016 at 10:38 pm Contact Josh: | @Schafer_44 Syracuse defenders hunched over in exhaustion. Several minutes had passed. SU simply could not find a way to clear the ball from their zone.It looked as though Boston College was finally ready to make the depleted Orange pay. And the Eagles may have easily capitalized had it not been for spectacular play from senior goalkeeper Regan Spencer about 10 minutes into the game.As a BC forward darted past the front of the net looking to tuck the ball in the corner, Spencer recovered. She scrambled to the ground making a diving, pad-stack save to keep the game tied at zero.Fans cheered, “Yeah, Reg!”as she made another spectacular save, kicking the ball free and helping the Orange advance the ball out of its own zone for the first time in several minutes.No. 1 Syracuse (5-0, 1-0 Atlantic Coast) beat No. 18 Boston College (1-3, 0-1), 3-1 at J.S. Coyne Stadium on Friday and Spencer had four saves in the victory. It marked Spencer’s fourth career start for the Orange, but according to her teammates, this breakout performance has been a long time coming.AdvertisementThis is placeholder text“She has been a behind scene worker for three years now,” fellow senior Liz Sack said. “It’s great to see her take her confidence from off the field and all of her hard work and being able to put it on the field.”As the offense struggled to finish chances, the Orange was forced to turn to its workhorse to lead the comeback charge.Led by Spencer, the Syracuse defense held the Eagles scoreless on three penalty corner attempts. Keeping the Eagles offense at bay proved crucial for Syracuse, as defense led to offense for SU.With Boston College battling in the closing minutes of the game, a couple of Eagles forwards found themselves alone in front of the net. Two forwards against one relentless goalie. Spencer denied the shot blocking their shot with a flare of her pads.The play ended in a corner shot for Boston College which once again ended in a save from Spencer. The ball bounced off Spencer’s pads onto the stick of Roos Weers. Weers sent the ball soaring down the field and found Elaine Carey out in front of the opposite cage for a breakaway goal. This goal was the finishing touch on a 3-1 victory for the Orange.Following the game Spencer was unavailable for interviews but junior center back, Lies Lagerweij, had high praise for her goalkeeper.“(Spencer) is really stepping up there,” Lagerweij said. “From the beginning of the season we knew our starting goalie Jess Jecko from last year left, so we needed someone to step up and I really think she did that.”Following in the footsteps of Jecko isn’t easy but so far Spencer has been up to the task. In the four games she’s appeared in this season, Spencer boasts a 0.99 goals against average right on par with Jecko’s 1.00 average for all of last season. Spencer boasts a 0.79 save percentage along with one shutout.As the Orange delves deeper into its ACC schedule it will look to Spencer to continue her outstanding play. If Friday was any indication, SU won’t be disappointed with what it sees. Commentscenter_img Facebook Twitter Google+last_img read more

Miroslav Ćiro Blažević: I’m the Only One who can Take B&H to the EC in France!

first_imgMiroslav Ćiro Blažević, ex-selector of the national football team of B&H is willing to take over the selection again – reports Patria agency.As he pointed out during the conversation with his friends, “he can no longer sit and look what certain individuals are doing out of it all”.“What happened here? It’s the same team led by my Safet last year, the same team that had such great successes and featured as threat to everyone. Something is bothering me here, and that is the fact that that much of a talent doesn’t get a chance to succeed and it can. I respect all my dear friends but I don’t think they are ready to wake up our Dragon asleep and I fear the situation would remain the same. There is no longer room for talks about tactics. What matters here is to regain the winning spirit.” – said Ćiro while talking to his friends.He also added that he is ready to candidate for the selector but his official candidature did not yet arrive to the Football Federation of B&H.(Source: read more

Kane wants assurances before Premier League returns

first_imgShare on: WhatsApp “About a week ago we started going to the training ground, we were allowed to have one-on-one training with one member of staff on one pitch, self-distancing from everyone,” he said.“We had tests on Monday, all the players and staff had tests, and everyone came back negative, which was great.”Kane said Liverpool’s 25-point lead would make them worthy champions however the 2019/20 campaign ends, with the absence of their fans from the conclusion to the season a necessary evil because of the pandemic.“Liverpool deserve to lift the title and with their fans missing it will be a strange situation. But we’ve not been through a time like this in our lifetimes,” he said.“I guess if we want to finish the season then we are going to have to do that.”Kane also revealed he had been contact with team-mate Dele Alli after the Spurs midfielder was burgled at knifepoint.“I think he’s a little bit angry. He said the most important thing was that he was OK, his family was OK and nobody was hurt. But it’s horrible to hear, especially when it’s someone close to you,” Kane said. London, United Kingdom | AFP | England captain Harry Kane says players are waiting for safety guidance from the Premier League after the government said it was “opening the door” for the return of football next month.Culture Secretary Oliver Dowden said Thursday’s meeting with the Football Association, Premier League and English Football League had “progressed plans for the resumption of the professional game in England”.The Premier League hopes for a return to action on June 12, with matches played behind closed doors.Tottenham striker Kane is willing to take the next step, moving from individual training to small group sessions, but suggested more information was needed.“I don’t think anyone knows the right answer at the moment,” he told ITV’s Good Morning Britain programme.“I think the majority of players are looking forward to playing again as soon as possible but we know we want it to be as safe as possible too.“From what I have heard — obviously I haven’t seen too much of my team-mates — at the moment everyone is OK. We want to see how the Premier League gives us a plan and what that looks like.”Kane confirmed that he, along with the rest of the Spurs squad, had taken initial tests for coronavirus, with no positive results following their return to training.last_img read more