APG CEO: Returns could suffer from mandatory positive buffers

first_imgHe said this would depend on pension funds’ future choices, such as their pensions target and the desired level of risk.“Smaller financial buffers would create more potential for better investment results, but would also increase risks,” the CEO said. Van Olphen indicated that APG’s preparations for the introduction of a new pensions system included a focus on simplification of pension arrangements.“During the past 40 years, collective labour agreements and transitional measures have created an accumulation of well-meant schemes and exceptions, which have caused complexity, costs and risks,” he said.“Together with our pension fund clients, we are now trying to push back the multitude of arrangements.”APG carries out the pensions administration for nine pension funds in total, including the €403bn civil service scheme ABP.In October, ABP agreed with workers and employers at the Ministry of Defence that it would replace the final salary scheme for defence workers with pension benefits linked to employees’ average salary, from 2019. Pension funds’ returns could suffer if, in a new Dutch pensions system, their financial buffers were not allowed to temporarily turn negative during times of economic stress, Gerard van Olphen, chief executive of the €453bn asset manager APG, has warned.The Dutch government has said that pension funds’ financial buffers must remain positive at all times as part of a new system currently being negotiated. APG’s CEO said this meant schemes would have to implement rights discounts earlier.“The risk would be that pension funds would want to increase their focus on certainty, which would limit their investment options,” he said.In an interview in IPE’s Dutch sister publication Pensioen Pro, Van Olphen said that a new pensions system with less concrete promises and less fixation on schemes’ funding ratios would in principle offer more freedom for investment, as well as potential for improved returns.last_img read more

2020 ITTF Africa Top 16 Cup: Algerian star eager to halt dominance of Quadri, Assar

first_imgRelatedPosts Aruna Quadri’s uncommon qualities stand him out, says Oshodi Quadri Aruna leads Africa to World Cup Aruna’s arrival attracted interest in Germany — TTBL After hobnobbing with the heavyweights in several major competitions, Sami Kherouf alongside Mohamed Boudjadja at the 2019 African Games became the first set of Algerian players to win gold medal at the multi-sports tournament. The men’s doubles title was celebrated by the government of Algeria and again Kherouf is hoping to go beyond this at the 2020 ITTF Africa Top 16 Cup in Tunisia. The 31-year-old has been listed among the cast for the ITTF Africa Top 16 Cup in Tunisia from February 24 to 26 and the 31-year-old is leaving no stone unturned in his quest to halt the dominance of Aruna Quadri and Omar Assar. He said: “I am preparing for the ITTF Africa Top 16 Cup like every African competition with the ambition to do better than the last edition. “My main goal in Tunisia is to win a medal at Africa Top 16 Cup.” Being his third appearance in the tournament, Kherouf has been threatening the old order and believes he might alter the order this year. He boasted: “I don’t set a specific goal as the dream of every player is to win tournament and this is my ambition which is the will to go farther. “I am not bothered about the seeding list as seeding can be altered on table. “I don’t care about the rating as I am aiming to win every game I play. “I believe the ranking will change after the tournament.” Also, the President of Tunisia Table Tennis Federation, Lotfi Guerfel, has assured of the country’s readiness to stage a befitting tournament. Guerfel said: “Everything is ready. “We started planning for the events when the announcement was made that Tunisia will host the two tournaments at the Annual General Meeting of African Table Tennis Federation in Morocco in 2019. “We have booked the venue, arrangement for the hotel has been made, while officials of the African Federation have also come for inspection of facilities. “For us, hosting a major competition is the best way to promote table tennis more in Tunisia and it is an opportunity to talk about table tennis in the media as well as to get equipment donations from ITTF.” Acknowledging the quality of players, Guerfel said: “The best players are from Egypt, Nigeria, Tunisia and Algeria. “This was again confirmed at the 2019 African Games in Morocco with the emergence of individual talents like Ibrahima Diaw of Senegal and Sarah Hanffou of Cameroon.”Tags: 2019 African Gamesaruna quadriITTF AfricaMohamed BoudjadjaSami Kherouflast_img read more