first_imgA proposal for a new set of figures to be reported by Swiss Pensionskassen has been rejected by the Swiss government for cost reasons.Two years ago, consultancy PPCmetrics was commissioned by the Swiss government to look into the financial figures currently reported by Swiss Pensionskassen.It was to determine whether these figures gave an indication of the true economic situation of a pension fund and which indicators might make their reports more comparable.The final report by PPCmetrics has now been published (see link below), and includes a proposal for new key figures to be reported by the Pensionskassen. The suggestion was that these would allow the supervisory authorities to devise a traffic-light system to identify and monitor those pension funds whose financial sustainability is compromised. However, the government has decided it will not make any new set of key figures mandatory.“For the government it is questionable whether the profit of a unified model would justify the costs,” it said in a press release.Lukas Riesen, partner at PPCmetrics, thought it was question of political will more than costs.“The government has decided against increased transparency,” he told IPE.He added: “The basic information for the figures we proposed is already being calculated by the pension funds – it would have been a simplification to concentrate on a few meaningful figures.”In their report PPCmetrics found that many figures currently reported by the pension funds were not really helpful.Current standard indicators like the funding level do not take into account the technical parameters applied to calculate it or the ratio of active to retired members in a fund.Riesen does not think any supervisory body will go against the government’s position by prescribing the use of the proposed new set of key indicators. “But the economic reality will force many pension funds to look at their true financial status,” he said.According to him many pension funds and also some supervisory authorities that are “taking risk management seriously” are already calculating economically true funding levels and other amended benchmark figures.“Our set of key figures takes a longer-term look at the financial situation of a pension fund both from the perspective of a provider as well as that of an active member,” he explained.Under current regulations pension funds are free to report funding levels based on any parameters they choose, but an economically true valuation would mean they have to report a lower funding level.,Supporting documents Click link to download and view these files PPC Metrics Feasibility Study (with English language summary)PDF, Size 1.49 mblast_img read more

first_img Associated Press Television News LIVE TV Last Updated: 22nd August, 2020 06:35 IST Bertsch Eagles 1st Playoff Hole To Win On PGA Tour Champions Shane Bertsch eagled the first hole of a four-man playoff Friday to win the Charles Schwab Series at Bass Pro Shops Big Cedar Lodge in his second PGA Tour Champions start FOLLOW US SUBSCRIBE TO US COMMENTcenter_img WATCH US LIVE First Published: 22nd August, 2020 06:35 IST Shane Bertsch eagled the first hole of a four-man playoff Friday to win the Charles Schwab Series at Bass Pro Shops Big Cedar Lodge in his second PGA Tour Champions start.Bertsch hit an approach from the rough near the back edge of a bunker that took some big bounces in front of the green and rolled to 20 feet from the back pin on Buffalo Ridge’s par-5 first hole.“This is a special one,” Bertsch said. “I’ve always had a hard time saying what my most special moment in golf is, but without a doubt it was that putt on the first playoff hole.”The downhill slider slowly made its way to the hole.“It had probably 2 feet of break,” Bertsch said. “It was pretty quick and it gets even quicker past the hole. … It took its time getting over there and getting there.”Kenny Perry lost a one-stroke lead on the par-5 18th, making a bogey after driving left into deep rough under trees, to fall into the playoff with Bertsch, Bernhard Langer and Glen Day.“I really had a good feeling because I just felt like everything had gone the wrong way today and something had to go right,” Bertsch said of the playoff. “And it did.”Four strokes ahead of playing partners Perry and Langer after opening with two 64s, Bertsch closed with a 1-over 72 to match Perry (68), Langer (68) and Day (66). Bertsch, Perry and Langer played together, while Day was three groups ahead.“I was pretty comfortable this morning really, but missed a little putt on the first hole for birdie and started thinking,” Bertsch said. “Miss another little one on the third hole, you start thinking. It really is hard to win that way. I hit some goofy shots and some poor putts and I just kept hanging in there.”The 50-year-old Bertsch, a three-time winner on the Korn Ferry Tour, won the senior qualifying tournament last year to earn a tour card. He made his delayed senior debut three weeks ago with a tie for 45th in The Ally Challenge in Michigan.“We’ve had a couple tough years,” Bertsch said. “I haven’t had much status the last few. I even took a job last summer and I’ve been doing some teaching in Denver and stuff. This is what I always have wanted to do, so I’m happy that I got the opportunity to keep playing for a while.”The 60-year-old Perry missed a chance for his 11th senior victory and first since the 3M Championship in August 2018.Fred Sanders, Perry’s caddie for 17 of his professional victories, is now working for Bertsch.Langer, the 62-year-old German star, won in Arizona in March for his tour-record 41st victory.Tom Byrum closed with a 63 — the best round of the week — to tie for fifth with Vijay Singh (68) at 12 under. Ernie Els (66) and Steve Stricker (67) were 11 under in the first of two 54-hole events at Big Cedar Lodge.The Charles Schwab Series at Ozarks National will start Monday, with Phil Mickelson set to make his senior debut after missing the cut Friday in The Northern Trust on PGA Tour.Image credit: AP Written Bylast_img read more

first_imgCurry, 31, was also in form as the Warriors ended the Rockets’ nine-game winning streak, contributing 24 points, five assists and four rebounds.But it was the team performance that particularly pleased Curry, given that Golden State was without Durant’s scoring. Related News Warriors’ DeMarcus Cousins nets season-high 27 points, Steve Kerr credits rotation change Klay Thompson apologizes to Warriors fans FinalKlay: 30p/6r/2aDeMarcus: 27p/8r/7a/2sSteph: 24p/5a/4r/2sQuinn: 7pKevon: 6p/6rDraymond: 5r/5a/2pAlfonzo: 5p/5rAndre: 5r/4a/3pShaun: 3a/2p— Golden State Warriors (@warriors) March 14, 2019″But you got to do it by committee so myself, Klay and DeMarcus were being aggressive when we had the ball in our hands.”Again, make or miss, we just tried to put pressure on them. Defensively was going to be the way we won this game.”We weren’t going to out score them, we had to buckle down and get stops and just try and control the tempo of the game as much as we could.”center_img Stephen Curry praised his Warriors teammates for standing up in Kevin Durant’s absence in their 106-104 victory over the Rockets.The Warriors were without the 10-time NBA All-Star for the trip to the Toyota Center because of a sprained ankle, but the likes of Klay Thompson and DeMarcus Cousins came through to fill the void. “Understanding you are missing 28 points is tough,” he said.last_img read more