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Experts predict massive job losses for Dutch pensions industry


first_imgThe Dutch pensions industry is facing substantial job losses of up to 30% or more as the number of pension funds in the Netherlands continues to decline.The number of schemes has fallen from 688 in 2008 to 372 today, and there is no end in sight – according to financial supervisor De Nederlandsche Bank (DNB), another 120 schemes are presently winding up or have indicated their intention to do so over the next few years.The regulator recently suggested that at least 60 more may be unsustainable in future.At this rate, the number of schemes will dip below 200 within the next few years, and the decline seems certain to affect employment in the industry, ranging from consultants to asset managers and professional trustees. According to Jan Jaap Dahmeijer at the DNB, the regulator has not yet conducted any research into the matter, but he said he was convinced the impact would be substantial.“The changes may be more significant than we now realise,” he told IPE sister publication FD IPNederland.Experts believe ongoing consolidation will lead to up to one in three jobs in the industry disappearing over time.Martijn Vos, director of pensions and risk management at Ortec Finance, told FD IPNederland: “In five years’ time, perhaps one in five jobs will have been lost. One in three jobs is a fair estimate in the long run.”Theo Kocken, chief executive at Cardano, agreed.“It would not surprise me if some 20-25% of jobs in the industry disappeared over the next 10 years, and that number may rise to one in three jobs in 20 years – or possibly sooner,” he said. Kocken said smaller schemes would be hit hardest, and that the services of consultants and actuaries for this segment of the market would be needed less and less.He added: “Asset managers are less vulnerable to the effects of consolidation, as they are paid based on assets under management, although asset managers of course cannot escape the fact they are part of the financial services sector – which, as a whole, will be shrinking for the next 10-15 years as a result of deleveraging.”Only the legal profession will be spared, he argued.“Considering the many regulatory changes, they will likely have plenty of work going forward,” Kocken said.However, the worst job losses are not expected to materialise for another five years, according to Vos.Initially, the rising number of pension schemes winding up will actually create more work for consultants of all sorts.“In addition, there’s the greater focus on risk management, communication with plan participants, adjusting schemes to fiscal and regulatory changes and so on,” he said.“So it will be a while yet before we start to see a serious decline in employment opportunities.”If the consolidation trend were to accelerate, however, the numbers are likely to be more grim, says Dries Nagtegaal, a professional trustee with the corporate Sabic scheme and metalworkers fund PME.As more and more schemes are forced to contend with falling numbers of active participants and thus falling contribution levels, more schemes – including healthy schemes with solid funding ratios – must consider winding up to safeguard the long-term interests of their participants, he said.Nagtegaal pointed out that the majority of the top 100 Dutch pension funds are facing these or similar issues today.“If the number of remaining schemes were to drop to 100, this would mean that 50% of the business in the industry will be lost,” he said.last_img read more


Update on the latest sports


first_imgMatthew Barzal scored 4:28 into overtime to give the Isles a 2-1 triumph over the Washington Capitals. Barzal’s goal came moments after Islanders netminder Semyon Varlamov (SEHM-yahn vahr-LAH’-mahv) stoned Jakub Vrana (vah-RAH’-nah) on a breakaway.Anders Lee scored for the third straight game to give the Islanders a first-period lead but the Caps tied it when Evgeni Kuznetsov (kooz-NEHT’-sahv) beat Varlamov on a breakaway. That was the only puck to get past Varlamov, who has allowed just five goals in the series.Braden Holtby stopped 32 shots for the Capitals, who will try to avoid elimination on Tuesday.In other Stanley Cup first-round action:— The defending champs have their first win of the opening round after Brayden Schenn (shehn) scored 15:06 into overtime to give the Blues a 3-2 decision over the Canucks. Jake Allen stopped 29 shots in helping St. Louis avoid falling behind three games to two in the series. Justin Faulk and David Perron (peh-RAHN’) provided the Blues’ first two goals, both coming in the second period. Kelly was clinging to a one-shot lead over Scott Parel when he hit a soft cut with a 5-iron that landed in front of the hole and rolled in for an ace. He and Parel were the only players to finish under par on the South Course at Firestone.LPGA-LADIES SCOTTISH OPENLewis wins Ladies Scottish Open title NORTH BERWICK, Scotland (AP) — Stacy Lewis holed a long birdie putt to see off three rivals at the first playoff hole and win the Ladies Scottish Open. The American won her first LPGA Tour title in nearly three years along with a confidence boost ahead of the British Open. The 35-year-old Lewis earned her 13th LPGA Tour victory and first since the birth of her first child, Chesnee, in October 2018. Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditNHL PLAYOFFS-SCHEDULEIslanders go up 3-0UNDATED (AP) — The New York Islanders own a three-games-to-none lead in their NHL first-round series against the team that won the Stanley Cup two years ago. The 42-year-old Herman finished at 21-under.Horschel closed with a 65. He had a final chance to tie on the 72nd hole, but his 8-foot birdie putt slid left of the cup.PGA TOUR CHAMPIONS-SENIOR PLAYERS CHAMPIONSHIPKelly gets 1st major winAKRON, Ohio (AP) — Jerry Kelly seized control at the Senior Players Championship with a hole-in-one on the 12th hole at Firestone, sending him to a 1-under 69 and a two-shot victory for his first major on the PGA Tour Champions. Update on the latest sports A group of Big Ten football players including Ohio State quarterback Justin Fields posted an online petition on Twitter Sunday asking the Big Ten reinstate the schedule the conference released six days before it pulled the plug. Player parent groups from Iowa, Ohio State, Penn State and Nebraska have sent letters to Big Ten Commissioner Kevin Warren asking for the conference to reverse course.PGA-WYNDHAM CHAMPIONSHIPHerman wins in Greensboro, gets FedEx Cup nodGREENSBORO, N.C. (AP) — Jim Herman rallied to win the Wyndham Championship and a spot in the FedEx Cup playoffs.Herman capped his third PGA victory by shooting a 7-under 63 for a one-stroke victory over Billy Horshel. Herman overcame a four-stroke deficit in the final round and overtook Horschel with a birdie on the 71st hole. — Carter Hart became the youngest Flyer to record a playoff shutout as he stopped 23 shots in a 1-0 win over the Canadiens. Hart was perfect after allowing four goals in less than two periods on Friday’s 5-0 loss to Montreal. Neither team scored after Jakub Voracek (JAY’-kuhb VOHR’-ah-chehk) beat Carey Price on a deflection that flipped over the head of the Canadiens netminder and into the net.— Joe Pavelski recorded his first career playoff hat trick before the Stars scored 16:05 into overtime to complete a 5-4 win over the Flames, evening the series at two games apiece. John Klingberg had three assists, including a shot that Alexander Radulov (RAD’-yoo-lahv) deflected into the net for the game-winner. Pavelski capped his hat trick by beating Cam Talbot with just under 12 seconds left in regulation. — The Blackhawks avoided a four-game sweep as Corey Crawford stopped 48 shots to lead their 3-1 victory against the Golden Knights. Crawford turned back 19 shots in the first period, allowing Chicago to skate off the ice with a 2-1 lead following goals by Drake Caggiula (ka-ZHOO’-luh) and Matthew Highmore. Crawford blanked Vegas after Shea Theodore’s goal with 6:02 left in the opening stanza.NHL-FLYERS-LINDBLOMLindblom joins Flyers for playoffs after cancer treatment — The Yankees beat the Red Sox for the ninth straight time as Mike Ford contributed an RBI single and a two-run homer in New York’s 4-2 victory. J.A. Happ limited Boston to a run and three hits over 5 1/3 innings, including Kevin Pillar’s (pee-LAHRZ’) third-inning homer.— The Astros pulled out their fourth straight win by knocking off the Mariners, 3-2 on Kyle Tucker’s walk-off homer in the bottom of the ninth. Andre Scrubb, Enoli Paredes, Blake Taylor and Ryan Pressly combined for 3 1/3 innings of one-hit ball in relief of Lance McCullers.— Max Kepler hit a two-run homer and rookie Randy Dobnak improved to 4-1 by pitching into the sixth inning of the Twins’ 4-2 victory against the Royals. Dobnak allowed a pair of solo homers but just one other hit over 5 1/3 innings.— The Rays won the completion of Saturday’s suspended game as Brandon Lowe hit a solo home run in the ninth to lead a 3-2 downing of the Blue Jays. Lowe went deep for the fourth straight game after lacing a double in the seventh.— Willy Adames (ah-DAH’-mehs) led off the eighth inning with a homer to help Tampa Bay beat Toronto for the second time Sunday, 7-5. The Rays tied the game when Austin Meadows scored from first after Jays right fielder Teoscar (tay-AHS’-kur) Hernandez misplayed Yandy Diaz’s single with two out in the seventh. The game was shortened to seven innings due to the completion of the suspended game. — Orlando Arcia homered, collected three hits and scored the go-ahead run on Ryan Braun’s single in the seventh inning of the Brewers’ third straight win over the Cubs, 6-5. Keston Hiura (HEER’-uh) also homered and Milwaukee’s bullpen trio of Josh Hader, David Phelps and Devin Williams combined to strike out six over the final three innings. — Homers by Chad Pinder, Stephen Piscotty and Marcus Semien highlighted the Athletics’ nine-run fifth in a 15-3 dismantling of the Giants. Mark Canha (KAN’-ah) delivered a two-run triple in the big rally that supported Mike Fiers (FY’-urz), who allowed two runs over six innings.— Nick Markakis (mahr-KAY’-kihs) drove in three runs and five pitchers combined on a two-hitter in the Braves’ 4-0 shutout of the Marlins. Markakis opened the scoring with an RBI single and capped it with a two-run double as Atlanta took the rubber match of the three—game series.— Max Scherzer struck out 10 over seven innings as the Nationals beat the Orioles, 6-5 to take the rubber match of their three-game set. Scherzer and the Nats blew a four-run lead before Washington scored an unearned run in the eighth on a throwing error by third baseman Rio Ruiz.— Andrew McCutchen entered as a mid-game injury replacement and hit a go-ahead, two-run home run to help the Phillies beat the Mets, 6-2 to complete a three-game sweep. Zack Wheeler gave up two runs and struck out four over seven solid innings versus his former team. DAYTONA BEACH, Fla. (AP) — Chase Elliott won the Cup Series road course race at Daytona International Speedway by holding off hard-charging Denny Hamlin following a late restart and notching his third consecutive victory away from ovals.The 24-year-old Elliott also won on road courses at Charlotte and at Watkins Glen last year. He got a bigger challenge than many expected down the stretch in his latest roadie.Hamlin finished second, followed Martin Truex Jr. and Jimmie Johnson.Kyle Busch had the best shot at catching Elliott, but the defending series champion had rear brake issues with 17 laps to go and was forced to the garage for a lengthy repair.NFL-NEWS NEW YORK (AP) — American League batting leader DJ LeMahieu (leh-MAY’-hyoo) has been placed on the 10-day injured list by the Yankees because of a sprained left thumb, joining Aaron Judge and Giancarlo Stanton on the sidelines.LeMahieu was hurt during an awkward swing in the fourth inning of Saturday night’s 11-5 victory over Boston and left the game two innings later. LeMahieu is hitting .411 with two homers and eight RBIs.NASCAR-DAYTONAElliott tames Daytona road course — Keibert Ruiz homered in his first major league at-bat and Corey Seager belted a three-run homer as the Dodgers ripped the Angels, 8-3 to complete a sweep of the Freeway Series. Max Muncy had a two-run homer and Matt Beaty also went deep to help the Dodgers pick up their fifth straight win and improve to an NL-leading 16-7.— Jon Gray struck out seven over a season-high seven solid innings and was backed by a 14-hit attack as the Rockies outscored the Rangers, 10-6. Ryan McMahon homered and Trevor Story and Charlie Blackmon had two hits and two RBIs each to help Colorado end a three-game skid.— Eduardo Escobar smacked a go-ahead, three-run homer in the eighth inning to send the Diamondbacks past the Padres, 5-4. Kole Calhoun opened the scoring with a two-run blast before Arizona improved to 8-3 in 11 games since a 3-8 start.MLB-YANKEES-LEMAHIEU Yankees’ LeMahieu on injured list with sprained left thumb August 17, 2020 TORONTO (AP) — Oskar Lindblom has joined the Flyers in the NHL playoff bubble in Toronto. Lindblom is with the team for the first time since he was diagnosed with bone cancer in December. There is no timetable for a return to the lineup.Lindblom turned 24 on Saturday and a day later he received a rousing applause from the Flyers during morning skate. MLB-SCHEDULE20 straight for Indians against Tigers UNDATED (AP) — The only constant in Major League Baseball these days seems to be the Cleveland Indians beating the Detroit Tigers.The Indians knocked off the Tigers for the 20th consecutive time dating to last season as Franmil (FRAHN’-meel) Reyes homered twice in Cleveland’s 8-5 victory. Francisco Lindor, Jose Ramirez and Sandy Leon also homered as the Indians extended their team record for consecutive wins against the same team. Reyes homered three times in the three-game sweep but exited in the ninth inning after being hit on the left hand by a pitch.The big league record for consecutive wins against the same team is 23 set by the Orioles against the Royals in 1969 and ’70.Elsewhere around the majors:— The White Sox tied a major league record by belting four consecutive home runs in a 7-2 thumping of the Cardinals. Roel Ramirez became the first pitcher in big league history to surrender four straight homers in his major league debut when Yoán (yoh-AHN’) Moncada, Yasmani Grandal (yahs-MAH’-nee grahn-DAHL’), José Abreu (ah-BRAY’-oo) and Eloy Jiménez connected during a six-run fifth. VIRUS OUTBREAK-COLLEGE SPORTSNCAA’s top doctor: COVID-19 testing needs to improve to playUNDATED (AP) — The NCAA’s chief medical officer says there is a narrow path to playing college sports during the coronavirus pandemic. However, Dr. Brian Hainline also told CNN late Saturday that “everything would have to line up perfectly” for college sports to be played this fall. Testing of athletes will need to increase when competition begins. The availability and turnaround times of COVID-19 tests is still a problem in parts of the country. Hainline told CNN: “Right now, if testing stays at it is, there’s no way we can go forward with sports.”The NCAA has no jurisdiction over major college football, so the conferences have been left to make their own calls. The ACC, SEC and Big 12 are among six conferences moving forward with plans to play in the fall. The Big Ten and Pac-12 have postponed fall sports and are hoping to reschedule next spring. The former top-ranked Lewis shot 1-over 72 in the final round to join Munoz, Cheyenne Knight and Emily Kristine Pedersen in a four-way playoff.F1-SPANISH GPNo worries: Hamilton wins Spanish GP for 88th victory in F1MONTMELO, Spain (AP) — Lewis Hamilton has coasted to victory at the Spanish Grand Prix to extend his championship lead. Hamilton’s 88th career victory leaves him three behind Michael Schumacher’s Formula One record. Hamilton finished a sizable 24 seconds ahead of Max Verstappen, who has eight podiums in the past nine races. Hamilton leads Verstappen by 37 points. Washington QB Smith cleared for practiceUNDATED (AP) — Quarterback Alex Smith has been activated off the physically unable to perform list by Washington’s NFL team. It is the latest step in a remarkable recovery after his right leg was broken in two places during a game nearly two years ago. Sunday’s move means that Smith now is allowed to participate in Washington’s padded practices when the team can move to that phase of training camp Tuesday. He hasn’t played since November 2018.In other NFL news:— The Jets have agreed to terms on a contract with veteran Chris Hogan to boost their banged-up wide receiver corps. Hogan spent last season with Carolina but caught just eight passes for 67 yards in seven games while missing a large chunk of the season following arthroscopic surgery on his left knee. last_img read more


DONEGAL DELEGATES JOIN CANCER DELEGATION TO EU PARLIAMENT


first_imgSinn Fein’s Martina Anderson with Donegal delegates.Donegal delegates have join MEO Martina Anderson as part of a delegation to EU Parliament.The Sinn Féin MEP this week hosted the delegation to the European Parliament focusing on cancer patients’ concerns, needs and rightsSpeaking from the European Parliament in Brussels, Ms Anderson said, “The purpose of this delegation was to focus on patients’ rights, concerns and needs but also to reaffirm our commitment to tackle the cancer epidemic in a coordinated approach across Europe.“In the north alone, it is estimated that by 2020 – just four years from now – that 74,000 people will be living with cancer. It already accounts for 30% of all deaths across Ireland. Its prevention must be a high public health priority.“Cancer risk in women continues to rise, and lung cancer has now overtaken colorectal cancer to become the second most common major cancer in women.“The large, and growing, number of cancer survivors in our community will have major implications for cancer support services in the coming years.” Noelle Duddy, from Co-operating for Cancer care North West (CCCNW) in Donegal, added “This was a very welcome opportunity to visit the European Parliament. It was very insightful to discover other delegate’s thoughts and experiences of living with cancer and campaigning for increased awareness and services.”DONEGAL DELEGATES JOIN CANCER DELEGATION TO EU PARLIAMENT was last modified: March 3rd, 2016 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:cancerdonegalMEO Martina Andersonlast_img read more


Serie A: Inter eye return to winning ways, away to Brescia


first_img Tags: BresciaHellas VeronaInter MilanItalian Serie AParma Inter Milan drew 2-2 against Parma in their last game. (PHOTO/Courtesy)Parma vs Hellas VeronaStadio Ennio Tardini, ParmaTuesday, 29-10-2019 @9pmParma managed to hold Inter to a 2-2 draw at San Siro despite an injury crisis and host a Verona side struggling for goals.The Ducali moved Gervinho to centre-forward due to the simultaneous absence of Roberto Inglese and Andreas Cornelius, which allowed Yann Karamoh to get his first start of the season. The winger on loan with option to buy from Inter made a big impact against his old club, scoring one goal and setting up another for Gervinho, so they’re expected to lead the way again with impressive Under-21 international Dejan Kulusevski.Matteo Scozzarella is suspended, with Bruno Alves, Vincent Laurini, Riccardo Gagliolo and Alberto Grassi also sidelined.Hellas Verona’s main issue is that none of their strikers have found the net this season, despite a consistent rotation of the forwards. It also means they failed to score in their last two games, defeats to Napoli and Sassuolo, so it’s clear where coach Ivan Juric has to intervene.Miguel Veloso is still dealing with a muscular problem and is a major loss, as his set pieces alone make a big contribution to the team’s attacks. Salvatore Bocchetti, Daniel Bessa, Giampaolo Pazzini, Boris Radunovic, Lubomir Tupta and Emmanuel Badu also miss out.Teenager Eddie Salcedo and Matteo Pessina are challenging Valerio Verre and Mattia Zaccagni for a role in support of either Mariusz Stepinski or Samuel Di Carmine.Parma have won their last three home games, their best Serie A streak at the Tardini since six consecutive victories in 2012.Brescia vs Inter MilanStadio Mario Rigamonti, BresciaSaturday, 28-09-2019 @11pmInter wasted a golden opportunity to go top of the table and now face a tricky trip to Mario Balotelli’s Brescia.The Nerazzurri could’ve taken back the leadership of Serie A after Juventus were held by Lecce, but instead, they too only scraped a 2-2 draw with Parma and remain one point behind. To make matters worse, Atalanta are gaining momentum and closed the gap to just two points from Antonio Conte’s men.The coach complained bitterly about the injury crisis leaving him with “a squad reduced to the bare bones” and he’ll have to make do again without Stefano Sensi, Matias Vecino, Alexis Sanchez and Danilo D’Ambrosio.Either Lautaro Martinez or Romelu Lukaku must get some rest soon, so Matteo Politano and 17-year-old Sebastiano Esposito are pushing for a place in the starting XI. Kwadwo Asamoah is nursing a knee issue and could again make way for Cristiano Biraghi.Brescia have their own problems to contend with, managing just one point from the last four rounds and are fresh off a disappointing 3-1 defeat to Genoa.Jhon Chancellor limped off with a thigh strain during that game, adding to the growing injury list that already includes Daniele Dessena, Ernesto Torregrossa, Giangiacomo Magnani, Bruno Martella and Luca Tremolada.So much was expected of Balotelli on his return not just to Serie A, but to his hometown club of Brescia, but he is yet to make a genuine impact. There was one goal, but he was practically inconspicuous against Genoa on Sunday evening, except for during his exit, when he kicked a photographer’s camera on the touchline. He has faced his old club Inter five times in Serie A, but never found the net against them.Alfredo Donnarumma has shaken off his injury and should be back in the starting XI with SuperMario, but Nikolas Spalek, Jaromir Zmrhal and the fit-again Emanuele Ndoj are all candidates to be trequartista, now Romulo has returned to midfield.Inter could win their first five away games of the Serie A season, something this club only achieved in 1966-67, 1997-98 and 2012-13.Upcoming fixturesWednesday, 30-10-2019-Napoli vs Atalanta @9pm-Cagliari vs Bologna @11pm-Juventus vs Genoa @11pm-Lazio vs Torino @11pm-Sampdoria vs Lecce @11pm-Sassuolo vs Fiorentina @11pm-Udinese vs Roma @11pmThursday, 31-10-2019          -AC Milan vs SPAL @11pmComments last_img read more