​Netherlands, Denmark first class in Melbourne Mercer pensions index

first_img35Turkey42.2Dn/a 16Malaysia60.6C+58.5 27Indonesia52.2C53.1 36Argentina39.5D39.2 1Netherlands81A80.3 16US60.6C+58.8 26South Africa52.6C52.7 15Hong Kong61.9C+56 24Spain54.7C54.4 13Germany66.1B66.8 37Thailand39.4Dn/a 27Italy52.2C52.8 2Denmark80.3A80.2 10Chile68.7B69.3 6Norway71.2B71.5 7Singapore70.8B70.4 14UK64.4C+62.5 21Poland57.4C54.3 19Peru58.5C62.4 31Japan48.3D48.2 The Dutch pension system has retained its crown as the world’s best in the latest annual Melbourne Mercer Global Pension Index (MMGPI), even improving the already high score it was assigned last year.Denmark came second in the 2019 assessment from the consultancy’s Melbourne branch, with both countries maintaining their 2018 positions of first and second, respectively. The countries were the only two to have pension systems make Mercer’s A category, for which qualification requires a “first class and robust retirement income system that delivers good benefits, is sustainable and has a high level of integrity”.The Netherlands scored 81.0 in this year’s edition of the index, up from 80.3 in 2018, with Denmark improving too but by a narrower 0.1 of a point, rising to 80.3 from 80.2.center_img Commenting on the results, the Dutch Pension Fund Federation said a strong point for the Netherlands was the country’s combination of state pension and supplementary pension, with the state pension age also shifting with increasing life expectancy.“According to the study, the Netherlands could score even higher by reducing household debt and increasing labour market participation among the elderly as life expectancy rises,” the association said.Publication of the 2019 Melbourne Mercer ranking comes as Dutch pension stakeholders negotiate the details of a new system due to come into effect in 2022 and underfunded pension funds face the prospect of having to make pension cuts. Meanwhile in Denmark, Karina Ransby, deputy director of lobby group Insurance & Pension Denmark (IPD), said: “It is really nice that Denmark’s pension system again this year gets the A grade together with the Netherlands as the only two countries.”The association had expected Denmark to reach the top again this year, she said, but noted that the Netherlands had once again taken the very top position.There had been major improvements in the Danish pension system in recent years, she said.“When the latest changes have been allowed to unfold, we expect it to be reflected more in Mercer’s annual assessment of Denmark”Karina Ransby, deputy director of Insurance & Pension Denmark“When the latest changes have been allowed to unfold, we expect it to be reflected more in Mercer’s annual assessment of Denmark,” said Ransby.European pension systems appearing in the Global Pensions Index’s next categories (B+ and B) are Finland, Sweden, Norway, Ireland Switzerland and Germany. A system making this grade is judged to have “a sound structure, with many good features, but has some areas for improvement that differentiates it from an A-grade system”. UK still in C grade territoryThe UK improved its score to 64.4 in 2019 from 62.5, but this was 0.6 of a point shy of pulling it out of the C+ and C categories. The description for countries falling within this bracket is: “A system that has some good features, but also has major risks and/or shortcomings that should be addressed. Without these improvements, its efficacy and/or long-term sustainability can be questioned.”Benoit Hudon, head of wealth, Mercer UK, said: “The UK retirement system’s strong score for integrity needs to be matched by improving adequacy, in other words what people actually receive in retirement.”He said a lack of understanding of what they will receive and of what they will actually need in retirement has led to a gap in retirement savings for many UK employees.“This begs the question as to whether employers should play a greater role, both in educating and supporting their workforce,” Hudon said.Internationally, Mercer said its research showed that a strong correlation existed between the levels of pension assets and net household debt, with growth in household debt in developed and growth economies paired with the growth in assets held by pension funds.It said the report was the first international study of its kind to document the tendency for spending to increase with rising wealth in relation to pension assets.“The MMGPI’s data suggests as pension assets increase, individuals feel wealthier and therefore are likely to borrow more,” the firm said.The Melbourne Mercer index is supported by Australia’s Victoria government and is a collaborative project between the Monash Centre for Financial Studies – part of Monash University in Melbourne – and Mercer. It can be found here.Full rankings 25Austria53.9C54 22Saudi Arabia57.1C58.9 8New Zealand70.1B68.5 23Brazil55.9C56.5 12Switzerland66.7B67.6 18France60.2C+60.7 11Ireland67.3B66.8 4Finland73.6B74.5 3Australia75.3B+72.6 29Korea49.8D47.3 20Colombia58.4C62.6 30China48.7D46.2 5Sweden72.3B72.5 9Canada69.2B68 34Philippines43.7Dn/a  Country 2019 score and grade 2018 score 32India45.8D44.6 33Mexico45.3D45.3last_img read more

Mikel undergoes Stoke City medical

first_imgRelatedPosts Ighalo: My best moment as ‘Red Devil’ Mane double eases Liverpool to win over 10-man Chelsea EPL: Chelsea, Liverpool in cagey duel Former Chelsea star John Obi Mikel has been pictured arriving in Stoke as he is set to complete a medical ahead of his move to the Championship side.The Nigerian midfielder is currently a free agent after leaving Turkish outfit Trabzonspor by mutual consent back in March. Stoke have been in talks with Mikel for a couple of weeks and he is set to sign a one-year deal with the West Midlands club.And a picture of the former Chelsea and Middlesbrough player was doing the rounds on social media as he headed to the club’s Clayton Wood training ground.Mikel made 249 Premier League appearances for Chelsea in an 11-year spell, which ended when he left Stamford Bridge in 2017.He won the Champions League and Europa League, two Premier Leagues, three FA Cups and the League Cup with the London side.After leaving Stamford Bridge he joined Chinese side Tianjin TEDA and had a brief spell at Middlesbrough in 2019. Mikel played 23 times for Trabzonspor in the last year but he left the club days after expressing his concern that the Turkish Super Lig was continuing amid the global coronavirus pandemic.Stoke are looking to strengthen their side after finishing 15th in the Championship under former Northern Ireland boss Michael O’Neill.Mikel’s arrival at the club could be announced and it would be their fourth signing of the summer.Tags: Champions LeagueChelseaClayton WoodEuropa LeagueJohn Obi MikelMiddlesborough FCPremier LeagueStoke CityTianjin Tedalast_img read more

Ex-Auburn coach Tommy Tuberville earns GOP nod in Alabama U.S. Senate race with rout of Jeff Sessions

first_imgFLASHBACK: Tuberville compares Lubbock to IraqTuesday’s runoff was needed because no candidate received 50 percent of the vote during the initial primary election on Super Tuesday last March. This vote will be a blowout victory for Tuberville; he was leading Sessions by 24 points (62 percent to 38 percent) with just over a third of the state’s districts reporting, AL.com reported.Sessions conceded late Tuesday and also appeared to announce his retirement from public service, AL.com reported. Former Auburn football coach Tommy Tuberville on Tuesday advanced to the general election in Alabama’s 2020 U.S. Senate race, defeating former Sen. and U.S. Attorney General Jeff Sessions in a Republican Party primary runoff.Tuberville moves on to face Democratic incumbent Doug Jones on Nov. 3. Tuberville has leaned into supporting President Donald Trump during his campaign for the nomination, and the affection appears to be mutual. Trump endorsed Tuberville in the primary race, and the president tweeted his congratulations after Tuesday’s runoff was called for the former coach. Wow, just called! @TTuberville – Tommy Tuberville WON big against Jeff Sessions. Will be a GREAT Senator for the incredible people of Alabama. @DougJones is a terrible Senator who is just a Super Liberal puppet for Schumer & Pelosi. Represents Alabama poorly. On to November 3rd.— Donald J. Trump (@realDonaldTrump) July 15, 2020Tuberville, 65, is a first-time politician, but his name recognition (and, just maybe, his support of Trump) makes up for that lack of experience. He coached the Tigers to 85 wins, seven of them against Alabama, in 10 seasons (1999-2008). He left the Plains after a 36-0 loss to Nick (don’t call him Lou) Saban’s Crimson Tide closed out a 5-7 season in 2008.Tuberville was also a head coach at Ole Miss, Texas Tech and Cincinnati. Prior to that, he worked as an assistant at Miami (Fla.) during the Hurricanes’ dynasty years of the mid- to late 1980s and early 1990s.last_img read more