German regional ministers relaunch push for auto-enrolment

first_imgCountries such as Sweden and the UK had had good experience with state-organised funds, according to the ministers. Thomas Schäfer, the Christian Democrat finance minister for the state of Hesse, has previously cited NEST in the UK and AP7 in Sweden as examples. Ministers in the German federal state of Hesse have relaunched a drive for the introduction of auto-enrolment to boost private pension saving.A resolution to support their idea was brought to the upper chamber of parliament, the Bundesrat, at the end of March. It was promptly assigned to various of the upper chamber’s committees, which have postponed debating the proposal. IPE understands this is normal procedure. Under the Hessian ministers’ proposal, employees would be automatically signed up for a private pension unless they were sufficiently covered by a workplace pension or opted out of the private scheme.The government would create a fund to be the default provider and investor of individuals’ savings unless they chose an alternative. Thomas Schäfer, Hesse finance ministerCredit: Martin Kraft Speaking at an industry conference in Berlin earlier this year, Schäfer also said there was a positive precedent for auto-enrolment in Germany, citing the growth in the number of so-called “mini-jobbers” paying social security contributions since this became the default several years ago.Ministers have also proposed for the default investment product to come with limited guarantees, in return for higher equity exposure and the prospect of higher returns. Currently, state-subsidised private pension savings products have to guarantee the contributions that have been paid in.The state-backed fund would make investments that meet minimum environmental and ethical standards and, for cost reasons, would mainly invest passively. The government would not be allowed to intervene in the fund’s investments.Under the proposals, the scheme would offer savers a cost-efficient and transparent product and compete with private providers on the open market. It and other providers meeting pre-determined criteria would be included in a list to be maintained by a neutral state body. The envisaged national pension savings scheme would be implemented by means of salary sacrifice. For those on a low income, the state would pay a large part of the contributions using the existing system for paying contributions to state-subsidised third-pillar, or “Riester”, products.Trade bodies criticise plansVarious trade associations expressed opposition to the Hessian government’s plan. BVI, the German fund management association, said a state pension fund would distort competition and was unlikely to be cheaper than other products on the market.GDV, the insurance trade body, also came out against the Deutschland-Rente proposal. It said making it a legal requirement for employers to auto-enrol individuals into funded private pensions was challenging from a regulatory and bureaucratic standpoint.It also argued that the Hessian government’s concept did not offer a solution for individuals that were not in stable employment.The current state-subsidised private pension system definitely needed improvement, added the GDV, but efforts should focus on existing, easy-to-implement suggestions. Heribert Karch, chief executive of MetallRente and chair of the German occupational pensions association, was a strong critic of the Deutschland-Rente when it was first put forward by the Hessian ministers.Deutschland-Rente: Take twocenter_img The proposal brought to the Bundesrat last month was based on ideas that go back to 2015, when Schäfer and his fellow regional government ministers Tarek Al-Wazir and Stefan Grüttner first presented the idea of a national private pension savings scheme.The Deutschland-Rente idea came to nothing, however, and reform efforts in the intervening years instead culminated in legislation introducing the possibility of industry-wide defined contribution schemes.  The Hessian ministers have argued that Germany’s recent pension reform – the Betriebsrentenstärkungsgesetz (BRSG) – would probably not be enough to bring about comprehensive pensions coverage, in particular for employees in small and medium-sized businesses that were not signed up to industry agreements.The BRSG came into effect at the start of this year and German unions and employer representatives have asked providers to give them breathing space to negotiate on new pension plans.Schäfer has previously said that existing private pension products tended to be too complex and too expensive for the return they offered. Promoting a standardised Riester pension is one of the policies in the coalition government’s programme .last_img read more

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Barbados PM arrives In China

first_img Share Tweet NewsRegional Barbados PM arrives In China by: – June 14, 2011 18 Views   no discussions Sharing is caring!center_img Share Share By Peter GreenePrime Minister Freundel Stuart. Photo credit: gisbarbados.gov.bbBEIJING, China (BGIS) — With the national flags of Barbados and China fluttering side-by-side, and a greeting that bore testimony to the good relations that exist between the two countries, Prime Minister Freundel Stuart set foot in China on Sunday for the first time, at the start of a hectic, one-week official visit.Just seven months in office, Stuart is the latest Barbadian head of government to accept an invitation to pay an official visit to China. His predecessor, David Thompson, made an official trip to China in 2008, and former Prime Minister Owen Arthur was there in 2007.Noting that he welcomed the opportunity to visit the country that was quietly emerging as the leading economy in the global sphere of activity, he said he was looking forward to successful talks with the Chinese leadership on a number of important bilateral and international matters.During the six-day visit, Stuart is expected to hold discussions on several areas of mutual interest, particularly alternative and renewable energy; education and infrastructural development; as well as ways to further strengthen Sino-Barbados relations. The prime minister is also scheduled to sign two bilateral agreements on Monday with his Chinese counterpart.Earlier Sunday, Stuart and his delegation held talks with the country’s Ambassador to China, Sir Lloyd Sandiford, and took time out to visit the historic Forbidden City. Later, he had a chance to meet with a number of Barbadian students and other Barbadians studying and living in China, as well as other CARICOM ambassadors in Beijing, during an official reception.Barbados and China formally established diplomatic ties in 1977, and China has had an embassy in Bridgetown soon after that. Barbados opened a mission in Beijing in 2010.Over the years, this country has benefitted from technical, construction and financial assistance from the Chinese, and there have been cultural exchanges between the two states.Caribbean News Nowlast_img read more

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Girls High School Basketball Scroes (12-12)

first_imgShawe Memorial  62     South Ripley  44Leading Scorers   Shawe Higgins 20    SR   Hayley Schwarte 14.Submitted by SR Coach Kevin Mack.Greensburg  56     South Dearborn  52North Decatur  71     Lawrenceburg  59South Decatur  56     Hauser  47Trinity Lutheran  50     Rising Sun  38New Washington  55     Southwestern Hanover  37Eastern Hancock  74     Northeastern  40Edinburgh  79     Greenwood Christian  36last_img

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Southeastern Indiana YMCA’s Coaches vs. Cancer

first_imgCome out and join us to cheer for your favorite teams from Batesville, Oldenburg, St. Louis, Milan, and Lawrenceburg. Participate in family fun activities during halftime, and help with the fight against cancer!Sponsored by the Southeastern Indiana YMCA.Submitted by Kathleen Bohman-Southeastern Indiana YMCA. Coaches-vs-Cancer Teams Work as OneFriday, March 14th, 5:30 p.m. Batesville Middle School Admission: $5.00 per person / Kids 5 & under = FREE  ·         Basketball Tournament ·         Local Area Schools Face Off ·         Community-Wide Event ·         Lots of Family Fun ·         Proceeds Benefit the American Cancer Society & the Y Annual Campaign last_img

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Judith A. Ray

first_imgJudith Ann Ray, age 91, passed away peacefully on January 21, 2018 at the Waters of Batesville.  Born October 24, 1926 in Elkins, West Virginia, she is the daughter of Leora (Nee: Painter) and Charles Harwood.  She married Preston B. Ray on March 16, 1948 in Scotland Neck, North Carolina.Judy truly lived life to the fullest, talking and visiting with friends and family, sharing stories of growing up in West Virginia.  She dearly loved her family and devoted her life to caring for them.  Spending time with the grandchildren was a special treat.She is survived by her sons and daughter-in-law Preston (Chip) and Nancy Ray of Greendale, Indiana; Charles Ray of Lake Park, Georgia; daughter and son-in-law Nancy and David Berg of Phoenix, Arizona; grandchildren Preston (Stephanie) Ray, Christopher Ray, Jenny Berg, Katie Berg and great grandchildren Aidan Ray, Adam Ray as well as numerous nieces and nephews.Judy cherished her friends and memories from Batesville.  The family sends a special thanks to the nurses and staff at the Chateau, the Waters and Margaret Mary Health Hospice for the care and friendship over the years.Judy’s wishes were to be cremated.  There will be no services locally.  Private services will be held and Judy laid to rest in Glenwood Cemetery in Washington D.C., beside her husband.  The family requests memorials to Margaret Mary Health Foundation Hospice.  Weigel Funeral Home is in charge of arrangements.  For online condolences go to www.weigelfh.com.last_img read more

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Wolves adopts do it yourself as training opens May 11

first_imgWolves’ first-team players will return to the training ground next week for individual sessions and fitness training. Wolves boss Nuno Espirito Santo, together with players Ruben Neves, Leander Dendoncker, Ruben Vinaigre and Joao Moutinho, are due to report back for training next Monday (May 11). Strict social distancing measures will be in place even as players have been told to be ready to wash their kits.  The operation wash your kits directive may not be unconnected with the need to reduce cost even as premier league clubs worry about financial implication of the covid-19 pandemic that forced all sporting outfits to close shop. Arsenal were the first Premier League club to welcome back members of their first-team squad, on April 27. Their players have been allowed to return to their London Colney training ground, but will continue to train individually in accordance with government health guidelines. Wolves boss Nuno Espirito SantoAdvertisement Tottenham and West Ham have also opened their training grounds with strict conditions in place, while Brighton, Crystal Palace, Sheffield United are expected to return to their various bases this week. All 20 Premier League clubs remain committed to finishing the current season, but it emerged this will only be possible if eight to 10 neutral venues are used to play the remaining fixtures. The ‘Project Restart’ document was top of the agenda in the latest conference call on Friday, while the next meeting is set to take place after the UK government’s next review of lockdown measures on Thursday (May 7). Read AlsoWolves ahead of Arsenal for Emmanuel Dennis signature June 12 has been discussed as a potential return date but any final decision will rest with the government and will depend on the next steps in the lockdown. FacebookTwitterWhatsAppEmail分享 Loading… center_img Promoted Content7 Ways To Understand Your Girlfriend BetterYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime6 Ridiculous Health Myths That Are Actually True10 Risky Jobs Some Women DoBest & Worst Celebrity Endorsed Games Ever Made7 Of The Wealthiest Universities In The World8 Scenes That Prove TV Has Gone Too FarWho Is The Most Powerful Woman On Earth?2020 Tattoo Trends: Here’s What You’ll See This Year9 Most Beautiful Women Of The XX Century7 Black Hole Facts That Will Change Your View Of The UniverseWhat Are The Most Delicious Foods Out There?last_img read more

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Jol happy at Fulham

first_img He added: “For me, there is no difference. It is not something from the last 48 hours as [the speculation] happened before. If people make up a little story and I speak about new players coming in, of course you need a little bit of money. “They associate us with the chairman and he has to give us the funds, but we are a healthy club. We will try to get some players in so there is no story. I am very happy. It is 10 minutes from my house, my girl is going to school and she loves it there. “She had her first competitive match yesterday against another school and they beat them. She was happy, I am happy, the missus is happy and hopefully I can make the fans happy again as well.” Jol talking about future plans also goes some way to dismissing talk of a potential departure. Wolves’ Bakary Sako, Athletic Bilbao defender Fernando Amorebieta and Roma’s Maarten Stekelenburg have all been linked with Fulham and the Dutchman revealed he has a deal in place with one of that trio. “It is not easy,” Jol said. “We have to pay a lot of money for these players. Of course if you have got players on loan you won’t generate a lot of money. They go back, you don’t get any money for them. “We have to be creative again but from the names you named, there is already one on the board. But I will talk to the press next weekend and we will confirm everything.” Fulham manager Martin Jol has dismissed speculation that he will leave this summer, insisting he is very happy at Craven Cottage. Having led the west Londoners to a ninth-placed finish last term, the Dutchman’s side have only narrowly avoided relegation this season and head into Sunday’s finale at Swansea on a run of five successive defeats. That poor form has resulted in reports that Jol’s position will be reviewed this summer, with Brighton’s suspended manager Gus Poyet linked with the job. The former Tottenham boss has himself been linked with the vacant Everton post and speculation has been mounting that he is becoming frustrated at Fulham. But Jol rejected such talk, saying: “I signed an option and that is a long time ago, ages ago.” center_img Press Associationlast_img read more

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Fahey ponders Jewel target

first_img “She is entered in the Grade One Squared Financial Christmas Hurdle at Leopardstown on the Sunday (December 28) and there is also a conditions race at Punchestown on New Year’s Eve that suits her. “She will go wherever the ground is softest. She is not eligible for the mares’ race at Leopardstown over Christmas. “She might go back mares’ chasing then in January, there is a Grade Two at Thurles that she will probably go for. “Long term, the mares’ hurdle at Cheltenham would be again there for consideration. “She needs soft to heavy ground and whether you would get that in Cheltenham or not would be the main concern. “It dried out too much for her there last year and it just caught her out. We will see around the time.” Press Association Jarlath Fahey will consider the options for Jennies Jewel over Christmas after her fine third at Navan on Sunday.center_img Winner of a Grade Three mares’ chase at Clonmel last month, the seven-year-old was third to Lite Duties in the valuable Tara Handicap Hurdle at the weekend. Fahey said: “We were very happy with her. It was a very good run considering the weight she had to carry. last_img read more

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Late Son Winner Sinks Villa as Spurs Move Up

first_imgSpurs, who always looked dangerous in attack, went in front when Steven Bergwijn won a penalty after being fouled by home defender Bjorn Engels. While Dean Smith’s side have earned just one point against sides currently in the top half, a wider concern for the Villa boss is that eight of their 15 defeats this term have been by a solitary goal. However, another Engels mistake allowed Son to race clear late on to place the ball past Reina as Villa’s miserable run against sides in the top half of the table continued. In his late lapse, Engels allowed the ball to run under his studs, enabling Son to score the decisive goal. EngelsShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Son’s initial spot-kick was saved by Villa goalkeeper Pepe Reina, but the South Korean forward followed up to score and become the first Asian player to reach 50 Premier League goals. The 25-year-old Belgian, who started because of Tyrone Mings’ absence through illness, had a difficult time dealing with the movement and pace of Bergwijn, Son and Lucas Moura. The hosts responded after the break with Engels heading in from a Jack Grealish corner to level the scores. Son Heung-min’s stoppage time goal gave Tottenham a last-gasp victory in an entertaining game at Aston Villa and took the visitors up to fifth in the Premier League table. Villa, who remain a point above the bottom three in 17th, made the stronger start and took the lead via Toby Alderweireld’s own goal – with the Spurs defender prodding Anwar El Ghazi’s cross past goalkeeper Hugo Lloris. It was his rash challenge on Bergwijn that allowed the visitors to go in at the interval with the lead in a game Villa had enjoyed the better of until then. This was another occasion on which they could have taken at least a point from a hard-fought contest but for individual errors – with Engels having an afternoon to forget. The Belgian atoned for his error by equalising with a superb angled effort that flew into the top right corner of the Villa goal from 10 yards. The result means Jose Mourinho’s side have leapfrogged Sheffield United and are now a point behind fourth-placed Chelsea, who have a game in hand.last_img read more

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Senior Kabellis simply brilliant

first_imgGREGORY DIXON/Herald photoThere is a saying in soccer that states, “Simplicity is brilliance.” It’s a rarity for your average soccer player to be able to take charge of a game with a simple header or with a drive to the goal. However, Kara Kabellis is not your average soccer player.Over the course of her last four seasons on the field, the captain and midfielder of the women’s soccer team continues to impress people with her relentless grit on the field, making the teammates around her better and causing fits to the opposition.Graduating from Providence Catholic High School in Illinois where she was a standout soccer player, Kabellis was inserted into the starting lineup her freshman year, playing alongside standout Wisconsin players Marissa Brown and Amy Vermeulen. In her freshman season, Kabellis started all 21 matches, totaling six goals and two assists, including three game-winning goals. Despite her nerves early in the season, Kabellis’ impressive play earned her a spot on the All-Big Ten freshman team.”I think my freshman year I really didn’t know what to expect,” Kabellis said. “I guess that there were some nerves obviously for the first couple of games. But, I felt comfortable about our success, comfortable with my surroundings and everybody made me feel at home on the field.” In her sophomore season, Kabellis began to develop into a solid young player and receive more attention from opposing defenses, drawing two or even three defenders on her at a time. That didn’t stop Kabellis, as she recorded six goals and three assists in 2004. By drawing extra players and putting up big numbers, Kabellis became an irreplaceable asset to the team.”The opponents have to keep an eye on her so when we have corner kicks, they have to be aware of her,” said assistant coach Carrie Baker. “Opponents are actually going to mark her most of the time. She actually draws attention to herself which allows others to be more open at times because defenses are more concerned stopping Kara.”What gives Kabellis that confidence is her hard work ethic. According to the coaches, she is always one of the first players to arrive and one of the last to leave. During practice, Kabellis never takes a drill off, always giving everything she has to try to improve her game and to help improve the team. Whether it’s working on improving her skills with air balls or practicing her cross passes, Kabellis always strives to improve. “She’s a gamer,” said head coach Dean Duerst. “She’s an intense player that never wants to not give more than 120 percent. You just see that in every exercise. She’s giving it the best she can, and that’s what you want as a coach. She helps make those around her play better, and that is a great thing.” After leading her team to the Big Ten tournament title and having another stellar season, where she finished second on the team in goals and points, Kabellis set her sights high in her senior season. With the loss of an outstanding senior class, Kabellis was looked upon to carry the scoring burden. Elected one of the team captains by her peers, Kabellis has led the charge for the soccer team, scoring four goals and continuing to help the younger players grow. According to Duerst, that understanding has come from her years of progression not only as a player, but as a person as well.”[Kara] understands that she can’t do it all,” said Duerst. “She understands where to run, how to run and when to run a lot more. She understands where the ball needs to go a little bit more. She needs to know when to take the game over and when to move into position for her teammates to get into spaces, and that just opens up her team’s play and her play as well. You need to have balance, especially as midfielder, and [Kara knows] her role.”With her senior season coming to an end, Kabellis will be closing one of the most successful careers of any women’s soccer player before her. Through her display of a hard work ethic, her passion for soccer and her willingness to go through a wall for her team, she has garnered the respect of her teammates, coaches and opponents and become the poster girl for women’s soccer at Wisconsin.When she leaves, Kabellis wants to be remembered not for her own accomplishments, but for making those around her better and making the team peak at the right time. “[When my career is over], I would want to be remembered as someone who played their best every game,” Kabellis said. “However, it would be great to be remembered as someone who tried to make the people around me better every game as well.”last_img read more

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