Brussels calls on member states to support ‘collective’ pension savings

first_imgEuropean Union member states must promote “collective” pension savings vehicles, the European Commission has urged.Releasing its annual growth survey, the European executive also praised efforts by a number of countries in reforming their first-pillar pension systems, arguing that a majority of member states had amended systems to “better withstand” the impact of increased longevity.It noted, however, that the reforms could result in further “challenges” and insisted that, to ensure the success and continued support of state pension reforms, steps needed to be taken to maintain retirement income levels, extend working lives or provide other sources of income through “complementary” pension savings vehicles.“Member states,” the report continues, “need to support the development of collective and individual pension plans to complement public pension schemes, including by removing obstacles at European level.” Social partners, it says, also have an important role to play, depending on the circumstances.The reference to collective and individual pension plans is likely to be an attempt to present both second and third-pillar pension saving as viable ways of increasing income on retirement.Olivier Guersent, the most senior civil servant within the Financial Stability, Financial Services and Capital Markets Union directorate general, recently suggested the pan-European pension product developed by the European Insurance and Occupational Pensions Authority (EIOPA) could play an important role in developing pension saving where occupational systems were not in place.At the same event, EIOPA chairman Gabriel Bernardino suggested there was space for a pan-European occupational defined contribution system.The Commission’s report comes only a few months after social affairs commissioner Marianne Thyssen argued in favour of greater supplementary savings, while acknowledging the “limited” ability of many households to contribute to such systems.last_img read more

Access Bank-UNICEF Charity Shield Polo

first_imgThey will be featuring alongside Lawal Mohammed (0) and Adamu Atta (+3) for the Access Bank/Fifth Chukker team in the Charity Shield which will start with the match between Keffi Ponys and MRS tomorrow.Diego White(+6)and Santiago Cernadas (+6) are also in town for what promises to be an exciting galloping explosion. Both Argentines will be featuring for Keffi Ponys alongside Babangida Hassan (+3) and Hon. Ahmed Wadada (0).South African duo of Leroux Hendrix (+5) and Tom De Bruin (+7) are not left out as they will be in action for MRS who are completed by Bashir Dantata (+3) and Idris Badamasi (+3).The Rubicon is formed by Hadi Sirika (0), Malik Badamasi (+3), Idris Badamasi (+3) and Jamilu Mohammed (+3). Kashton will have Sherif Shagaya (-1), Lawal Mohammed (0), Johan Du Ploy (+3) and Manuel Crespo (+7) while Lagos side, Caverton-Sao Polo is made by Seyi Oyinlola (0), Rotimi Makanjuola (+1), Diego White (+6) and Abdulrahman Mohammed (+3).The 2016 edition of the 2016 Access Bank-UNICEF Charity Shield Polo tournament is designed to raise more awareness on the plight of vulnerable children and orphans especially the Internally Displaced Persons (IDPs) scattered across northern Nigeria.It is the first in the series that will climax in Europe with the Access Bank Charity Shield Polo Day at the prestigious Guards Polo Club in London in July.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Rubicon Battles Kashton as Final Week BeginsThe final week of the 2016 Access Bank-UNICEF Charity Shield Polo Tournament will gallop-off today with Rubicon and Kashton setting the ball rolling for the Access Bank Cup as the ‘big boys’ take the stage.Already, Argentine stars Manuel Crespo and Julio Nowillo Astrada, both of who are seven goalers, arrived from Buenos Aires on Monday.last_img read more

Brazzoni: Victory over USC defines what Wisconsin football meant in 2015

first_imgComing into their Holiday Bowl showdown against USC, the Wisconsin football team had played two opponents that would be considered quality: Iowa and Northwestern.Both teams finished the season ranked in the top 15, both teams are playing on New Year’s Day and both teams needed a little bit of luck to get past Wisconsin this year.First, against Iowa, Wisconsin had as good an opportunity as they were going to get that Saturday afternoon to find the end zone against one of the nation’s best defenses. They were on the one-yard line and were a simple handoff away from the lead. Quarterback Joel Stave takes the snap, trips over one of his linemen and fumbles. The Badgers never saw another scoring opportunity like that.Breakdown: Iowa 10, Wisconsin 6For the second straight season, the Wisconsin football team dropped its Big Ten opener. This year, the Badgers (3-2, 0-1 Read…Then, against Northwestern, the Badgers thought they had the game won. Wide receiver Jazz Peavy caught a touchdown pass that looked to have given the Badgers the lead and the victory in their final game of the season at Camp Randall. Upon further review, however, the officials declared Peavy did not complete the process of the catch and it was ruled incomplete. The Badgers were unable to find the end zone after that.Football breakdown: Wisconsin loses in heartbreaking fashion to NorthwesternIn a game where the Wisconsin football team rushed for a total of -26 yards, they were never out of Read…Two quality opponents, two losses and there wasn’t much reason to believe Wisconsin could pull out a victory against their third and final quality opponent in the Trojans Wednesday.USC came into the Holiday Bowl boasting one of the most high-powered offenses in the country thanks to the likes of quarterback Cody Kessler and wide receiver JuJu Smith-Schuster — two of the best in the nation at their respective positions.However, it also served as the perfect final test for this Wisconsin team. The Badgers’ top-ranked scoring defense hadn’t been truly tested all season and their offense had not been fully healthy through any of the first 12 games played.And to start, UW was passing the test. Their defense was playing strong, Stave and the entire offense was playing efficiently. While the Trojans were hanging around, it appeared as though the Badgers had a firm grasp on the game.But then, it happened. Everything seemed to be going right, but then one play looked to have changed the course of the entire game; a situation the Badgers were far too familiar with and never able to overcome.Down one in the fourth quarter and in need of a score, Tanner McEvoy took the ball out of the backfield and headed toward to sideline. Following good blocking and a broken tackle, McEvoy was headed for the end zone. That is until the officials blew the play dead, saying McEvoy stepped out of bounds.Because the play was blown dead, it was not reviewable. However, replays showed McEvoy did not in fact step out of bounds and the play should have ended in a Wisconsin score. The Badgers were unable to recover and ultimately punted the ball away.For the third time this season, the Badgers could smell the end zone, only to have it swiped away from them when they least expect it. And a similar fate seemed to be upon the cardinal and white. They couldn’t catch a break and they wouldn’t recover, a scenario that had defined the team’s 2015 season up to that point.Something always had to go wrong, but Wednesday night, the Badgers decided that they needed to make sure things went right.And for once, things did go right. USC never came close to scoring again, Rafael Gaglianone put any and all kicking woes from his sophomore season behind him and UW would ultimately walk away with the 23-21 victory.It was a victory that defined this football team. It defined a season of constant bumps in the road, lack of confidence in an offense under a first-year head coach and not knowing who was going to take the field on a week-by-week basis. Because despite all of that, one bowl victory made fighting through all that adversity worth it.One cannot let a trip at the goal line or the misinterpretation of an already controversial rule define this Wisconsin season.Because while teams will commonly tell you that they don’t let one game define them, I think this Badger team will be happy to tell you otherwise regarding what occurred Wednesday.On one night, Stave made smart, efficient passes to a finally healthy set of receivers, the defense dominated when they had to and the team fought through the adversity that had plagued them so harshly this season.This one night defined what Wisconsin football is supposed to be about, and on this one night, the Badgers can finally celebrate that marquee victory they’ve been searching for.last_img read more