Industry veteran Ambachtsheer criticises Dutch pensions system

first_imgDutch pension funds should split their portfolios into two separate segments and abandon the notion of intergenerational risk-sharing, Keith Ambachtsheer has argued.The director of the Rotman International Centre for Pension Management told IPE the risk-sharing element of the Dutch system was problematic, as it would always end with “the people with the power deciding things in their own interest”.He echoed previous comments that the current system was akin to US Nobel laureate John Nash’s game theory.“You can’t enforce [risk-sharing] unless you have a very strong governmental-type oversight that’s multi-generational, which is a pretty tough assumption,” he said. “Where the Dutch need to go is – rather than have a collective thing – simply divide their asset pool into a compounding component and a payment-certainty component,” the Toronto-based academic continued, noting that the two asset pools should not be mixed, as is currently the case in the Dutch system.He said he would keep “hammering away” at the idea until the Dutch “finally get it”.Ambachtsheer has previously expressed concern that a new concept of solidarity, whereby money is taken from pensions in payment, is changing the Dutch approach to pensions saving.Speaking at an event organised by the UK’s National Association of Pension Funds last year, he referenced Nash’s theory.“If you want a win-win game between various parties, you have to figure out how to keep it win-win,” he said. “If there’s a chance the game becomes win-lose, it will. And then it breaks down.”He has also been critical of previous proposals to revise the Dutch financial assessment framework (FTK) by allowing for a ‘nominal’ and a ‘real’ system of pension payments, deeming it flawed.For more on the FTK, including alternative proposals, see the March issue of IPElast_img read more

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Tiger Woods to return to golfing career tomorrow

first_imgTiger Woods will make his return to competitive action tomorrow.The now world number eight-hundred-and-ninety-eight hasn’t played a tournament for 15 months because of injury.He’ll tee it up at the Hero World Challenge in the Bahamas this week. Golf writer Lawrence Donegan says if it this comeback doesn’t work out it’s hard to see him trying again.last_img

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Dodgers minor leaguers will get bonus out of David Price’s pocket

first_imgMany teams have been releasing dozens of minor leaguers in recent days, however. The Dodgers have not yet announced whether they will be releasing any.The bonus will come from Price, who has still has not played a regular season game in a Dodgers uniform. Price, acquired in a trade with the Boston Red Sox in February, made $31 million in 2019 as part of a seven-year, $217 million contract that runs through 2021.This season Price has made just a fraction that of so far, with his remaining compensation to be determined by whether MLB and the players reach an agreement to start the season.Players would like to see their full contracts paid on a pro-rated basis, so if half the season were played Price would earn about $16 million of his $32 million salary. The Red Sox are paying half of whatever Price earns this season.MLB has proposed that players take even deeper pay cuts to account for the loss of revenue from games without fans, with the highest paid players taking the biggest cuts. Under that proposal, Price would earn less than $8 million. How Dodgers pitcher Ross Stripling topped the baseball podcast empire Dodgers hit seven home runs, sweep Colorado Rockies Dodgers minor leaguers will continue to receive $400 a week from the team at least through June, and each will also receive $1,000 as a goodwill gesture from star pitcher David Price, a club spokesman confirmed on Friday morning.Minor leaguers throughout the sport were set to have their $400 weekly payments run through May, but the Dodgers have opted to continue them at least another month.The Dodgers are among about a dozen teams that have committed to continue the payments, while so far only the Oakland A’s have revealed that they will not pay their minor leaguers. The Angels have not revealed their plans.Most teams have at least 200 minor leaguers, who typically are paid $300 to $500 per month. Related Articles Fire danger is on Dave Roberts’ mind as Dodgers head to San Francisco Cody Bellinger homer gives Dodgers their first walkoff win of season Newsroom GuidelinesNews TipsContact UsReport an Error Dodgers’ Max Muncy trying to work his way out of slow start last_img read more

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