PwC: Dutch pensions reform unlikely to cause costs explosion

first_imgPwC, which surveyed seven pension funds, two insurers, two pension providers, as well as the Pensions Federation, stated that all players found it difficult to come up with an estimation of costs after the transition to a new pensions system.This was due to uncertainties in the elaboration of the pensions accord as well as its translation into legislation, it explained.It said that, in general, costs will rise as a result of complexity through adding individual variables, including allocating returns to age cohorts and differing investment profiles.The consultancy indicated that costs for communication were likely to rise as the different aspects of the new system need to be extensively explained in order to keep the support of pension funds’ participants. The envisaged pensions reform in the Netherlands is unlikely to cause costs for pensions provision to explode as has happened in Australia, a survey by PwC has suggested.The study – commissioned by the Dutch government – attributed the pension costs increase in Australia to insufficient legal protection for pension savers who, for example, must pick their own provider.As the pensions agreement sticks to the mandatory participation in a pension fund, choosing a provider is not an issue in the Netherlands, said the consultancy.The independent survey had been instructed by parliament, which showed concern over steeply rising costs in the wake of Australia’s pensions reform.last_img read more

Cricket News Cameron Bancroft slams 50 in Big Bash League comeback, says ‘no grudges’ against David Warner

first_imgNew Delhi: Cameron Bancroft’s ban for the ball-tampering scandal that shamed Australian cricket ended on December 2018. The right-hander was selected for the Perth Scorchers in the Big Bash League tournament. After failing in the first three games of the tournament, Bancroft showed glimpses of his talent by blasting 59 against the Melbourne Stars at the Melbourne Cricket Ground. Bancroft’s knock came off 42 balls and included four boundaries and two sixes as the Perth Scorchers got their campaign back on track with a splendid six-wicket win against the Stars.Speaking after the end of the match, Bancroft, who is expected to have a County Stint with Durham as he aims to stake a place in the Australian Test side for the Ashes, said he would love to play cricket as much as possible. “I just love playing cricket, regardless of the Ashes; it was something I was really keen to do. I’ve missed a chunk of domestic cricket and come the end of the cricket season, I’ll just be keen to get over there and continue to improve and enjoy this great game,” Bancroft said.Read More | If I achieve half of what Sehwag did, I will be happy: Mayank AgarwalHowever, it was his comments for David Warner that became interesting. Bancroft, who had blamed Warner for the ball-tampering scandal in Cape Town, said he would love to open the batting with Warner again and said he was still in touch with Steve Smith and Warner. “We’re good people, very honest and passionate people. Dave, like Steve, all of us, we’ve all gone through our challenges, haven’t we? I look forward to a day like that where I can go out and play cricket with Dave again. He’s a quality cricketer and someone who’s achieved so much in that cricket team. As a player, you strive to be around players like that. For my own learning as a cricketer, I’d love for that to happen,” Bancroft said.‘Blame Warner’Some weeks ago, Bancroft revealed that it was Warner who encouraged him to tamper with the ball and he did it since he wanted to “fit in” and feel “valued” in the team.  Bancroft was handed a nine-month ban while Warner and then skipper Steve Smith were handed one-year bans by Cricket Australia in exemplary punishment for their role in ball-tampering scandal in March this year.  “Dave (Warner) suggested to me to carry the action out on the ball given the situation we were in the game and I didn’t know any better,” Bancroft said in an interview, conducted by former cricketer Adam Gilchrist for Fox Cricket. “I didn’t know any better because I just wanted to fit in and feel valued really. As simple as that,” Bancroft said.   Read More | Cameron Bancroft says David Warner encouraged him to tamper with the ball in Newlands TestHowever, he also admitted that he was guided by his own distorted values in making the horrendous decision. “The decision was based around my values, what I valued at the time and I valued fitting in? You hope that fitting in earns you respect and with that, I guess, there came a pretty big cost for the mistake.”Bancroft was candid enough to own up the mistake he made.”I take no other responsibility but the responsibility I have on myself and my own actions because I am not a victim. I had a choice and I made a massive mistake and that is what is in my control.”However, while introspecting what would have happened if he had refused Warner’s suggestion, the 26-year-old Bancroft said he may have buried himself under the doubt that probably he did not put team’s interest before him.  “I would have gone to bed and I would have felt like I had let everybody down. I would have felt like I had let the team down. I would have left like I had hurt our chances to win the game of cricket.” For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

Syracuse AD Mark Coyle: ‘We’re going to get our degrees, and we’re going to compete for championships.’

first_imgThe auditorium erupted into applause no more than five words into Mark Coyle’s first time talking to the media as Syracuse University’s newest athletic director.“Are you more a like Jake Crouthamel or Daryl Gross?” a reporter asked, referring to the past two Syracuse athletic directors.“I’m more like Mark Coyle,” he said confidently, which led to a deafening roar of cheers.The 10th athletic director in school history spoke to the media, Board of Trustees, members of SU administration and Orange head coaches for about 15 minutes on Monday morning. He discussed the state of Syracuse football as well as inheriting a basketball program marred by NCAA sanctions.Coyle previously served as the athletic director at Boise State since 2011, and oversaw a school that had success in football and overcame NCAA sanctions of its own — one of the reasons he thought Syracuse wanted to hire him. He was named the AD at SU on Friday evening and will officially start his tenure on July 6.AdvertisementThis is placeholder text“My expectations are simple,” Coyle, who spoke with all of SU’s coaches this weekend, said. “… We’re going to get our degrees, and we’re going to compete for championships. And I want to make sure that we all understand that.”In terms of the sanctions SU is facing, Coyle said he’s read the NCAA report and noted that the search committee that recommended him to Chancellor Kent Syverud was open about it throughout the process.“I think what attracted them to me and what attracted me to Syracuse was I had just gone through that process,” Coyle said. “I think Boise State handled that process very well … I feel very comfortable going through that process here.”Coyle said he would place focus on all of the Syracuse sports but wasn’t shy about admitting the success he’s seen while working at Kentucky, primarily known as a basketball powerhouse, and Boise State, widely considered the premier mid-major football school in the nation.Syracuse went 3-9 last season in football. And with all sports at Syracuse, Coyle said they’re going to do what they can to improve and win.“I promise you, no one wants to win more than Coach Shafer, his students and his staff and our fan base wants to win, I want to win,” Coyle said. “I’ve got to come in here and take a look at what we’re doing. I promise you, we’ll give it every ounce of energy we have.”The Carrier Dome, which has had rumors of being replaced or remodeled over the past few years, was also asked about. Coyle said those are discussions he would have with current interim athletic director and Carrier Dome manager Pete Sala, but said he had been a big fan of the venue even as he grew up in Iowa watching games in the Dome on television.“Obviously the Carrier Dome has special meaning. And I know there have been conversations about updating it,” Coyle said. “… But that could be a tremendous recruiting tool for us. Our goal is to get 18-year-old kids to say yes to Syracuse. Don’t get me wrong, it’s all about recruiting. And if we can add that wow factor to increase that great tradition, we’ll be OK.” Comments Published on June 22, 2015 at 12:16 pm Contact Sam: [email protected] | @SamBlum3 Facebook Twitter Google+last_img read more