Bulgarian government drops bombshell on second-pillar pensions

first_imgThese changes, notes the BASPSC, show the lack of an overall concept of pensions protection, have created instability in the pensions industry, including discouraging investors, and generated uncertainty and insecurity for insured members.The pensions association’s statement says it is ready to offer various types of payout mechanisms, including variable and guaranteed rates, and lump-sum pensions.But it insists the final decision should be up to individual members, as was the case in 2015, when members were allowed to switch between the first and second pillars.The BIA added that the common payout pool proposal renders the concept of personal pensions savings meaningless.It called for the draft to be tabled before the National Council for Tripartite Cooperation, the governmental, trade union and employers’ organisation advisory council.The objectors are also furious about the way the draft was slid into the legislative agenda.It was published late on Friday, 22 April, with a three-week consultation period that covered weekends and the Orthodox Easter public holidays, with even relevant ministers unaware until then of the document.This, they claim, is reminiscent of the government’s rushing through controversial changes to the pensions system in 2014, shortly before Christmas.The objectors have called for any discussions, let alone decisions, to postponed until after the asset quality reviews and stress tests of the pensions sector have been completed.The remit of the reviews in any case overlaps with the finance ministry’s proposals on issues such as investments and risk management.The reviews themselves were recently postponed until July, and will not be completed until December.Yesterday, Bulgaria’s Financial Supervision Commission published a list of eight approved independent external reviewers for the pensions sector. Bulgaria’s pensions sector is up in arms following a set of draft amendments to the Social Insurance Code (SIC) published by the finance ministry on its website.While many of the suggestions are uncontroversial, covering long-standing issues such as investment by funds in related parties, the ministry dropped a bombshell by proposing a common payout asset pool for second-pillar fund retirees that would prevent them from passing their savings on to their heirs.Both the Bulgarian Association of Supplementary Pension Security Companies (BASPSC) and the Bulgarian Industrial Association-Union of the Bulgarian Business (BIA) have published strongly worded objections to the minister’s proposals.Both have objected to the continuing piecemeal amendments to the SIC – 45 times since 2010 and 117 times since its implementation – which make it among the most altered pieces of Bulgarian legislation.last_img read more

Dominicans told to be on their guard despite end of 2011 hurricane season

first_imgLocalNews Dominicans told to be on their guard despite end of 2011 hurricane season by: – December 6, 2011 Share Share Share Photo credit: amild-us-blogspot.comActing Senior Meteorological Officer at the Dominica Meteorological Service, Marshall Alexander, says despite the fact that the hurricane season is over, Dominicans should remain vigilant.He says weather features could affect the country even outside the hurricane season and this is not an excuse for Dominicans to let their guards down.“We could be faced with a weather feature resulting in excessive rainfall causing flooding and landslides. We must remain vigilant and stay on the side of caution,” he said.According to Alexander, the Meteorological Office will continue to work hard to keep the public safe and informed.“We will continue to monitor and put the information out through the daily weather reports on the radio and other mediums,’ he said.Alexander is also urging the public to make it a daily routine to listen to the weather reports.A flash flood watch has been issued on at 12:00pm Friday, December 2nd, 2011 is in effect and has been extended until Tuesday December 6th 2011.The Meteorological Office has advised that a trough system is expected to produce some unsettled weather over the Eastern Caribbean over the next 12 hours, consequently, generally cloudy skies with scattered showers and periods of light rain can be expected across the island. Therefore, the general public should be vigilant and exercise caution as increased showers may cause rivers to overflow their banks and already saturated soils to slip. Hikers should be vigilant and exercise caution.Dominica Vibes Newscenter_img Tweet Sharing is caring! 24 Views   no discussionslast_img read more

Enrique fit for season opener

first_img All will have to work extremely hard to fill the gap left by Luis Suarez’s departure for Barcelona but Enrique sees no reason why they cannot match last season’s second-placed finish. “Everyone says about Luis and of course Luis was a top player for us, one of the top players in the world,” said the Spaniard. “But we’ve spent a lot of money on good players as well, we have a very good team. Hopefully we can do the same thing as last season.” One advantage for Liverpool may be that the former Southampton trio are all experienced Premier League players. “It depends on the player but normally (it’s an advantage),” said Enrique. “It’s a different league, a completely different type of football. This one probably is the hardest in terms of fitness because in the Premier League you run a lot, going wide and back more or less all the game. “Of course if you are used to this league, normally you do well. That doesn’t mean that a player that comes from another league can’t do well as well, but it is more risk.” Strength in depth is key for Liverpool this season as they return to the Champions League for the first time in five seasons. Enrique, whose only trophy with the Reds was the Capital One Cup in 2012, cannot wait to make his debut at Europe’s top table. He said: “Liverpool has been for a while without Champions League. “I’ve never played in the Champions League and I’m so excited to play in this competition because the best teams in the world are in this competition. I think Liverpool are one of the best teams in the world so Liverpool have to be there as well. “We’ll try to go as far as we can but of course not forget about the league and the two cups. We have a big squad and we want to compete for everything. “Hopefully, like the manager says, we can win a trophy. We won one before with Kenny (Dalglish). I know it wasn’t a Champions League or a league title but it was really exciting and for the fans it’s really good to win trophies.” Press Association Jose Enrique has declared himself available for Liverpool’s opening Barclays Premier League match against Southampton a week on Sunday. The Spanish left-back made just nine appearances last season before undergoing knee surgery in November that brought his campaign to a premature end. He resumed training in July and enjoyed some playing time on the Reds’ pre-season tour to the US. Speaking to Press Association Sport at Liverpool FC Members’ Family Day, Enrique said: ” I’m feeling good. “I was training on my own and running a lot, and it’s not the same when you play with a team because it’s a lot more with the ball and a different type of running. “I’m still getting my fitness back but I feel really good and confident that I can play soon. “It’s little by little, and not just me, everyone is getting their fitness. If the manager wants me to play in the first game of the season, I am ready of course.” Enrique’s fitness is a boost to boss Brendan Rodgers, who was left without a specialist left-back last season and has not been able to strengthen in that area. The Reds have been heavily linked with young Spaniard Alberto Moreno but so far he has stayed with Sevilla. Rodgers has still been busy in the transfer window, spending significant money on Southampton duo Adam Lallana and Dejan Lovren, Belgium World Cup star Divock Origi, Benfica’s Lazar Markovic and Emre Can from Bayer Leverkusen. Liverpool fan Rickie Lambert was another player to leave Southampton for the Reds while right-back Javier Manquillo has joined on loan from Atletico Madrid. last_img read more

Sterling to go on Liverpool tour

first_img The Barclays Premier League club named their squad for the tour on Saturday with the 20-year-old England striker included, but Italy forward Mario Balotelli was a notable omission. Sterling’s involvement in the tour comes after he failed to report to the club’s Melwood base for pre-season work on Wednesday and Thursday, citing illness, before turning up on Friday. Raheem Sterling has been included in Liverpool’s 30-man squad for their pre-season tour of Thailand, Australia and Malaysia. Press Associationcenter_img It was reported that the striker had also asked manager Brendan Rodgers to be allowed not to travel on the club’s pre-season tour as question marks over his future with the Reds rumbles on. Sterling has been the subject of two failed bids, the second reported to be worth £40million, from Manchester City this summer and it is understood senior figures at the Etihad Stadium are continuing to monitor the situation at Anfield. It has been claimed that City are now poised to make contact with Liverpool again, and are possibly readying a bid of £50million, which would equal the Reds’ valuation, but there has been no comment from the Etihad club. Balotelli has been left out along with Fabio Borini and Jose Enrique, with the trio due to continue their pre-season preparations at Melwood, although their absence raises questions over their futures with the club. Also absent from the squad are Philippe Coutinho, Emre Can and new signing Roberto Firmino, who have been given additional time off after international duty over the summer. Liverpool are due to fly to Bangkok on Sunday ahead of their first friendly against a Thai All Stars side next Tuesday. last_img read more

IOC considering postponing Tokyo Olympics

first_img Associated Press IOC considering postponing Tokyo Olympics Share This StoryFacebookTwitteremailPrintLinkedinRedditLAUSANNE, Switzerland (AP) — IOC considering postponing Tokyo Olympics.,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6center_img March 22, 2020last_img

DIGICEL Schools football, Region 6 leg

first_imgSkeldon High inflict 9-0 thrashing on CCSSBy Colin BynoeSKELDON High inflicted a crushing 9-0 defeat on Central Corentyne Secondary School (CCSS) as action in this year’s DIGICEL nationwide schools football championship resumed on Wednesday at Burnham Park.The championship took a two-week break, as coordinator of the championship Mr Peters rescheduled matches due to the inclement weather and other factors.Play in the lone encounter for the day brought together CCSS and a starting seven-man Skeldon High.The lads from Upper Corentyne went on a goal-scoring frenzy – goals coming at regular intervals. Early goals from Javon Angel in the 6th minute and Lester Reynolds in the 14th minute gave Skeldon High full control of the match from the beginning.It suddenly became a one-sided affair when two late goals came off the boot of Mark Matthews in the 20th minute and Oswald Gewan in the 36th to close off the first half. The score read 4-0 at the halfway stage in favour of Skeldon High.The final period was a riot as a nine-man Skeldon High hit home five more goals, three of which came from Steiner Peneus in the 38th, 44th and 60th minutes, which secured a lop-sided win to propel them to the other round.The championship resumes today at Burnham Park.Winifred Gaskin battle Corentyne Comprehensive High at 15:30hrs.last_img read more

Aussies sweep Windies with T20 thrashing

first_imgBRIDGETOWN, Barbados (CMC) – West Indies Women predictably suffered their second straight series whitewash at the hands of powerhouse Australia Women when they went down by nine wickets in the final Twenty20 International of the three-match series here Wednesday night.In yet another lopsided encounter at Kensington Oval, West Indies could muster only 81 all out off their 20 overs, with opener Britney Cooper top-scoring with 29 off 35 balls to be one of just three batsmen in double figures but the only one to pass 20.The hosts were undone by left-arm spinner Jess Jonassen who snatched four for seven from four superb overs while 20-year-old leg-spinner Georgia Wareham supported with three for 14.New-ball seamer Megan Schutt picked up two for 14.In reply, the Aussies strolled to their target in the eighth over with Player-of-the-Series Alyssa Healy belting a 16-ball 38 and opening partner Beth Mooney gathering an unbeaten 24 off 18 deliveries.Healy notched six fours and two sixes in dominating a 45-run opening stand off 22 balls before slicing leg-spinner Afy Fletcher for Karishma Ramharack to take a low catch at short third man in the fourth over.Choosing to bat first earlier, West Indies lost left-hander Kyshona Knight for two in the third over with the score on six, caught by captain Meg Lanning moving to her right at first slip off Schutt.Captain Stafanie Taylor, playing in her 100th T20 International, struggled for 19 deliveries over her six before becoming the second casualty of the innings, carving Wareham to Jonassen at point in the seventh over.When Stacy-Ann King missed a heave at Jonassen and was bowled between bat and pad for six in the 12th over, the hosts were in deeper trouble at 42 for three.Cooper, a late inclusion in the series, was the only one to show any defiance, counting four fours in an attractive innings. But she too fell victim to the Aussie spin attack, missing a sweep Wareham and adjudged lbw in the 14th over.Natasha McLean (15) and rookie Sheneta Grimmond (13) staged the best stand of the innings with 20-run partnership for the fifth wicket but once they were separated, West Indies lost their last six wickets for 26 runs in quick time.last_img read more

Badgers try to bounce back

first_imgBEN CLASSON/Herald file photoA week after blowing a 19-point halftime lead at Michigan, things won’t be getting any easier for the University of Wisconsin football team. No. 14 Ohio State comes to Camp Randall Stadium Saturday night, and a loss would mean an 0-2 start in conference play for No. 18 Wisconsin.UW lost its first game of the season last weekend, falling to the Wolverines 27-25 on the road.The Badgers had led 19-0 at the half before giving up 27 unanswered points in the second half.“We were a great defense in the first half; we lost sight of things in the second half,” defensive end O’Brien Schofield said. “Our focus wasn’t there.”Still, the team plans on building on its play in the first half when the Badgers forced five turnovers and held their opponent to just 21 total yards.“The first half let our defense know that we could play great, that we could be a great defense,” Schofield said, “But the key is doing it for four quarters. That first loss left a bad taste in our mouth. So now guys are really locked in on what we’ve got to do for four quarters of football.”It’s that first half defensive effort that the Badgers hope to bring to the table Saturday against the Buckeyes.“Watching film we definitely looked like one of the best defenses in the nation for the first half,” linebacker Jaevery McFadden said.While the wounds and lessons from the Michigan game are still fresh to some of the Badgers, others have already put Saturday’s loss behind them.“The Michigan game is gone,” cornerback Allen Langford said, “I’m really not focused on the Michigan game anymore, and I don’t care to talk about the Michigan game. I am very focused on Ohio State.”With OSU, there is plenty to focus on.Ohio State (4-1, 1-0 Big Ten) comes in ranked No. 14 and boasts an impressive offense headed by running back Chris “Beanie” Wells, who, despite being hurt earlier this season, is expected to play against Wisconsin. Wells ran for 173 yards and three touchdowns against UW in last season’s meeting.Though the Buckeyes were trampled 35-3 in their one loss this year on the road at USC, the team comes into the game undefeated in conference play having beaten Minnesota in its Big Ten opener last weekend.“Ohio State has some great, great players; their whole offense is good,” Langford said. “So we’re excited about them coming here and playing with a top notch team like that.”Last season, the Badgers lost on the road, 38-17, at the then No. 1-ranked Buckeyes. This year, with the game under the lights at Camp Randall, the team expects to have a homefield advantage working for it.“The atmosphere is going to be on fire,” Schofield said. “We’ve got to come out emotional and ready to go.”Wisconsin enters the game having won 16 straight home games, and head coach Bret Bielema has never lost a game at Camp Randall Stadium in his three seasons at the helm.“It’s exciting,” Langford said. “This is what most of us came to Wisconsin for, to play the Ohio States, in night games.”After a loss in their conference opener, the Badgers now face the possibility of a disappointing and difficult task of overcoming a 0-2 conference start. Wisconsin hasn’t lost its first two Big Ten games since the 2002 season.“We didn’t start the Big Ten like we’d like to, so there’s a great opportunity,” safety Shane Carter said. “It’d be great to get a win against them.”Playing against the nation’s No. 14 team at home, following last weekend’s loss and facing a deep hole in conference play, it is hard for the importance of Saturday’s game to be lost on the team.“This is definitely going to define our season,” McFadden said. “If we win this game or lose this game, it’s definitely gonna define our season and define who we are.”last_img read more

STAFF : Syracuse tennis splits weekend matches; 5 members of track team finish first in events

first_img Comments Published on February 5, 2012 at 12:00 pm Facebook Twitter Google+center_img Emily Harman and Amanda Rodgers both won their respective singles matches, but Syracuse (3-3, 1-1 Big East) was still defeated by No. 57 Ohio State (3-3, 0-0 Big Ten) 5-2 at the OSU Tennis Center on Saturday afternoon. The Orange rebounded on Sunday with a 7-0 sweep of Cincinnati.Harman improved her No. 1 singles record to 4-1 by defeating Kara Cecil 6-4, 6-7 (2-7), 10-8. Rodgers won her third-straight singles victory by defeating Noelle Malley 7-5, 6-2 in the No. 6 match.The Buckeyes won the doubles point. SU’s only doubles victory came in the No. 2 match, in which Maddie Kobelt and Aleah Marrow topped Malley and Kelsey Haviland 8-5. Harman and freshman Komal Safdar were narrowly defeated 9-7 in the No. 1 match.Against the Bearcats, SU won the singles matches in straight sets and captured the doubles points at the Western Tennis and Fitness Club.SU took care of business in singles, winning all games in straight sets. Alessondra Parra was the first to win her match in No. 5 singles as she blanked Sierra Sullivan 6-0, 6-0. Harman followed with a 6-2, 6-1 victory over Jasmine Lee. The Orange cruised in doubles by winning all three of its matches. Harman and Safdar defeated Lee and Ashleigh Witte 8-1 in the No. 1 match.AdvertisementThis is placeholder textRodgers won her fourth consecutive singles match 6-4, 6-1, and Breanna Bachini played for the first time this season, defeating Safiyya Ismail 6-1, 6-3.SU will continue playing a tough schedule when it travels to face No. 55 Boston College on Saturday and No. 60 Harvard on Sunday.TrackSyracuse had athletes compete in the New Balance Collegiate Invitational in New York City and at the Hamilton College Invitational this weekend. Five SU athletes finished first in their events.Jarret Eaton won the 60-meter hurdles for the third straight weekend, finishing at 7.54 seconds. Flings Owusu-Agyapong finished first in the consolation race of the 60-meter hurdles with 7.33 seconds. And Frank Taylor finished first in the long jump with a jump of 7.26 meters.In addition, multiple Orange athletes qualified for the Big East championships this weekend. Darryl White, Jihaad Howard and Nathaniel Mercer finished fourth, fifth and sixth in the 60-meter dash.SU returns to action for the Valentine Invitational in Boston, Mass., and Kane Invitational in Ithaca next weekend.—Compiled by The Daily Orange Sports stafflast_img read more

Loren Ziegler scores 5 goals in final regular season home game, leads SU to win over Albany

first_imgWith Syracuse down a goal and 30 seconds left in the first half, midfielder Loren Ziegler cut from left to right across the field with the ball, fell and fired a shot past Albany goalie Courtney Henderson.SU head coach Gary Gait greeted Ziegler with a smile and a fist bump, and Mallory Vehar said, “That was sick,” to her on the sideline. The goal was Ziegler’s fourth of the game and helped SU go into the locker room with the game tied.The rest of the No. 9 SU (11-6, 3-4 Atlantic Coast) offense converted on just three of its 11 first-half shots, but Ziegler stepped up. She scored four first-half goals, more than she had scored in her first three years at SU. The senior’s five tallies led the Orange to its 14-12 win over No. 19 Albany (11-3, 4-1 America East) on Senior Day in the Carrier Dome. Ziegler was one of just three Orange players to score in the first half.“Nothing like a senior stepping up on Senior Day like Loren Ziegler,” Gait said. “Five goals, a career high. Not a better day to do it.”Ziegler kicked off the scoring for the Orange. After SU goalie Kelsey Richardson made a save on a high shot, the Orange ran the length of the field. Attack Halle Majorana sent a pass from the left side of the Albany crease and attack Kayla Treanor couldn’t corral the pass on the right side. Instead she picked up the loose ball as it rolled away and fired it to Ziegler, who buried a shot from the front of the crease.AdvertisementThis is placeholder textWhen she was one-on-one with defenders, she used a jab step to draw defenders one way before she moved the other way. The move helped her get to the net. In the second half, she beat her defender and a foul sent her to the 8-meter arc for a free position.She buried the ensuing shot to give SU a 12-8 lead and, as she ran off the field, fist bumped associate head coach Regy Thorpe, and hugged teammate Ella Thorpe.Albany head coach John Battaglino said that the Great Danes played Ziegler well, and Albany players were positioned correctly, but Ziegler just managed to get her stick free from checks.“I don’t know if she missed, did she?” Battaglino said. “…You tip your hat to her.”Against Albany, Ziegler scored on both her free-position shots and five of her seven shots. As a team, the Orange has struggled to do both lately. SU had not converted above 45 percent of its shots in its last three games and scored on just seven of its 25 free-position shots. Ziegler’s efficient performance helped SU make half of its shots and more than half of its free positions.“I think it was all mental really,” Ziegler said. “I think just knowing that it’s Senior Day, it’s your last guaranteed home game in the Dome, you just gotta dig deep and just go hard.”Staff Writer Jon Mettus, jrmettus@syr.edu, contributed reporting to this story. Comments Published on April 19, 2015 at 5:59 pm Contact Chris: cjlibona@syr.edu | @ChrisLibonati Facebook Twitter Google+last_img read more