British Steel: 86% of members opt for new pension scheme

first_imgRoughly 83,000 members of the British Steel Pension Scheme (BSPS) have opted to transfer to a new version of the scheme to be set up in March, its trustees have announced.BSPS trustees have been consulting members on a restructuring of the £14bn (€16bn) pension fund since late last year, after sponsoring employer Tata Steel UK warned it would go bust if it was forced to continue supporting the scheme.BSPS and Tata subsequently agreed with the regulator to launch a new scheme – BSPS2 – still sponsored by Tata but with lower annual benefit increases. They offered members the option of switching to this or remaining with the old scheme. The old scheme is to transfer to the Pension Protection Fund (PPF).After an extensive communication exercise, the trustees said today that 97,000 of the scheme’s 122,000 members had responded to the consultation, with 86% opting for the new scheme. The remaining 14% chose to go into the PPF.  Alan Johnston, BSPS trustee chairman, gives evidence to Work and Pensions Select Committee last monthAllan Johnston, chair of the trustee board, said: “[BSPS2] offers benefits that for most members are the same or better than the PPF and around 83,000 members have chosen to switch to the new scheme. “The PPF provides a valuable safeguard for members of occupational pension schemes and around 39,000 scheme members will remain in the current scheme when it starts its formal PPF assessment period at the end of March unless they take a transfer. Their benefits will be aligned to PPF compensation levels.“Work is now under way to allocate the members and scheme assets between [BSPS2] and the old scheme. Central to this work is the requirement to ensure that, from 29 March 2018, pensioner members receive their appropriate pension payment depending on which arrangement they will be moving into.”BSPS: How it happened December 2016: Tata Steel UK launches a consultation to close BSPS to future accrual and enhance its defined contribution offering as part of a bid to sustain the company’s operations in Port Talbot, Wales.January 2017: Trustees claim BSPS can continue to pay benefits outside of the PPF and without the support of its sponsoring employer. They set out the case for entering into a “regulated apportionment arrangement” (RAA). May 2017: BSPS and Tata agree the terms of an RAA in principle with the regulator, with the existing scheme set to take a 33% equity stake in the employer and a £550m cash injection.August 2017: TPR agrees to an RAA, with Tata Steel UK continuing to sponsor a new scheme with lower annual benefit increases. November-December 2017: Financial advisers flag concerns about advice being given to BSPS members to take their pension savings out of the scheme. The Financial Conduct Authority (FCA) investigates and politicians launch an inquiry.January 2018: The FCA says a third of all pension transfer cases involving BSPS members were “unsuitable”.March 2018: Subject to regulatory approval, BSPS will split in two with one section entering the PPF’s assessment period and the other, larger section becoming a new scheme, BSPS2.center_img Those joining BSPS2 were estimated to represent 80% of assets and liabilities, the trustees said, meaning the new scheme would be roughly £11bn in size and the PPF would take on approximately £3bn.The figures are expected to be confirmed by mid-March, with the formal split taking place on 28 March.The Pensions Regulator (TPR) will now assess the data and the trustees’ plans for BSPS2 before deciding whether it is strong enough to be set up. last_img read more

EU chastises Britain for having too many stay-at-home moms

first_imgLifeSiteNews 29 June 2015The Brussels-based European Council, made up of the heads of government of member states and which sets the EU’s policy agenda but has no legislative power, has chastised British moms for wanting to stay home to look after their children.The Council Recommendation report notes that “The percentage of [UK] women who are inactive or work part-time due to personal and family responsibilities (12.5 %) was almost twice as high as the EU average (6.3 %) in 2013” and calls this a “social challenge” that the British government should work to eliminate by providing more state-funded child care.The report also finds fault with the fact that more women work part-time than men, observing that, “the difference in the share of part-time work between women (42.6 % in 2013) and men (13.2 % in 2013) is one of the highest in the EU.”The EC’s recommendations prompted indignant responses from Brits who say the EU has no business criticizing mothers who choose to stay at home.“How British families organize their care is up to them. They shouldn’t be lectured to by the British government, or bean-counters in Europe. This is just another bullying tactic to get mothers to leave their young children,” Laura Perrins of the campaign group Mothers at Home Matter told The Telegraph.“They have no right whatsoever to tell women and families to go to work. It is not within spitting distance of what they should be doing,” added Conservative MP Peter Bone of Wellingborough. read more

Chelsea boss Lampard makes first winter transfer signing

first_img The agreement will see Fiabema receive a professional contract as soon as he turns 17 on February 16. Fiabema was at Stamford Bridge on Saturday to watch Chelsea’s 3-0 win over Burnley. Frank Lampard has made his first signing as Chelsea manager after landing 16-year-old Norwegian wonderkid Bryan Fiabema. Teen starlet Fiabema signed a three and a half year deal at Stamford Bridge on Friday morning after impressing during a trial in December. After the game he was in the changing room where he met boss Lampard and his new Blues team-mates. Fiabema posed for a photo with winger Callum Hudson-Odoi, who netted his first Premier League goal during the win. Chelsea will use the 16-year-old in their Under-18s and U23 teams as well offering him the chance to play in the UEFA Youth League. The Blues had received a two-window transfer ban from FIFA after they were found guilty of breaching a total of 150 rules, involving 71 players. Read Also: EPL: Hudson-Odoi nets first goal as Chelsea cruise to victory But Lampard was given a boost when the ban was overturned allowing Chelsea to spend in this month’s winter window. Chelsea were stunned when the ban was imposed and furious when it emerged their attempts to have the ban put on hold pending their initial appeal to FIFA had been rebuffed. FacebookTwitterWhatsAppEmail分享 center_img Loading… Promoted ContentThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreWhich Country Is The Most Romantic In The World?Can Playing Too Many Video Games Hurt Your Body?7 Black Hole Facts That Will Change Your View Of The UniverseTop 10 Most Romantic Nations In The World2020 Tattoo Trends: Here’s What You’ll See This YearWhat Is A Black Hole In Simple Terms?10 Phones That Can Work For Weeks Without Recharging8 Weird Facts About Coffee That Will Surprise You9 Facts You Should Know Before Getting A Tattoo6 Interesting Ways To Make Money With A DroneWho Is The Most Powerful Woman On Earth?last_img read more

Hoosier unemployment inches lower for February

first_imgIndianapolis, In. — Unemployment in Indiana for February dropped one-tenth of a percent o 3.2 percent. With the exception of one month when it was equal in October 2014, Indiana’s unemployment rate has been below the U.S. rate for more than four years.The monthly unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.Indiana’s labor force had a net increase of 2,495 over the previous month. This was a result of 2,243 unemployed residents no longer seeking employment within the past four weeks, and a 4,738 increase in residents employed. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.31 million, and the state’s 63.7 percent labor force participation rate remains above the national rate of 63.0 percent.In addition, Indiana’s initial unemployment insurance claims continue to be at historical lows.last_img read more

Bucksport girls take second at home track meet

first_imgBUCKSPORT — Bucksport’s Natasha Clement and Mavis Taungatu’a led the girls’ outdoor track team to a second-place finish at its home meet Thursday.The Bucksport girls scored 89 points, with Clement and Taungatu’a combining to win five events. Central won with 148 points; Washington Academy took third with 87; Searsport fourth with 84; Bangor Christian fifth with 44; and Narraguagus sixth with 28.Taungatu’a won three events: the javelin throw (107-01), discus throw (95-03) and shot put (34-10).Clement won the 1,600-meter run (6:41.32) and the 800-meter run (2:44.92).This is placeholder textThis is placeholder textFor the boys, Bucksport took third with 78 points. Washington Academy won with 133; Central took second with 120; Searsport fourth with 61; Bangor Christian fifth with 48; and Narraguagus sixth with 24.On Friday, the Ellsworth boys placed third at Foxcroft Academy. Foxcroft won with 232 points, John Bapst took second with 107; Dexter fourth with 52; Piscataquis fifth with eight; and Greenville sixth with four.The Ellsworth boys won two events: the 4×800-meter relay and 1,600-meter race walk. John McKechnie, Mark Berry, Matt Frost and Camden Holmes took first in the relay (9:19.79); and Talor Hamilton won the race walk (11:13.33).Kiona Osterlin led the Ellsworth girls with a first-place finish in the 1,600-meter run (5:45.76).The Ellsworth girls took fourth with 56 points. John Bapst won with 208; Foxcroft took second with 98; Dexter third with 76; Piscataquis fifth with 47; and Greenville sixth with six.last_img read more

Mexican Football Federation Moves to Tackle Homophobic Slurs

first_imgMexico City: The Mexican Football Federation (FMF) and Liga MX have announced a series of measures designed to curb homophobic behavior from fans.Under the crackdown, referees in the country’s top football division Mexican Football Federation will be able to temporarily stop games if homophobic chants are heard. Referees may ask teams to return to the dressing rooms for up to 10 minutes if the order is not restored, officials said on Friday.However, the movie stops short of a FIFA edict in June that empowers referees to abandon matches in serious cases, an outcome that could lead to forfeits, points’ deductions and even expulsion from competitions. The FIFA ruling will take effect for the 2022 World Cup qualifiers.The maximum penalty for Liga MX clubs will be a requirement to play future home matches behind closed doors.”We’re not in an emergency situation, but if we don’t resolve it, we will have problems and we don’t want that,” Liga MX president Enrique Bonilla told a news conference. “That’s why the Liga MX and FMF will work in a proactive way.” IANSAlso Read: Martino named Mexican national football team coachAlso Watch: Central Karam Sanmilan begins in Tinsukia | The Sentinel-News | Assam Newslast_img read more

The Latest: European rugby finals get new dates in October

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The rugby final of the postponed European Champions Cup has been set for Oct. 17 and the final of the second-tier Challenge Cup will be the day before. More AP sports: and June 25, 2020 Associated Press center_img The Latest: European rugby finals get new dates in October The matches were called off in April because of the coronavirus pandemic.The quarterfinals for both tournaments have been rescheduled for the weekend of Sept. 18-20. The semifinals will be Sept. 25-27.Leinster will host Saracens in the quarterfinals in a repeat of the 2019 final, Toulouse plays at home against Ulster, Clermont Auvergne faces fellow French side Racing 92, and Exeter will welcome Northampton in an all-English clash.European Professional Club Rugby says it remains committed to staging the finals in Marseille, France.___last_img read more

Opara’s lone strike enough for GDF to win GFF Super 16 title

first_imgA 57TH minute beauty from eventual tournament MVP, Benjamin Opara, was all it took for Guyana Defence Force (GDF) to claim the Guyana Football Federation (GFF) Super 16 title, when the curtain came down on the annual year-end football tournament on New Year’s Day. Played in front of an almost-packed Georgetown Football Club (GFC) ground, the clash between the Army and Fruta Conquerors lived up to all the pre-game hype and excitement the two sides promised.Chronicle Sport photographer Delano Williams captured part of the action between GDF and Fruta Conquerors in the GFF Super 16 Final on New Year’s DayCoached by Joseph ‘Bill’ Wilson the Camp Ayanganna-based side dazzled the crowd with their first touch, unselfishness and how much they were able to keep the star-studded Fruta Conquerors at bay for 90+ minutes and were able to come out on top with a 1-0 scoreline.“That goal is something we’ve been practising all the time. The night before, right at that same ground, we spent about two hours running those plays and if nothing else, I was happy that the players did exactly as we practised and executed when the opportunity came along,” Wilson told Chronicle Sport in an exclusive interview as he reflected on GDF’s win. The goal, scored by Opara, was something out of a coach’s text book – GDF’s run started in the midfield, flat and accurate passes as if the players were being controlled by one of the world’s top ‘FIFA 20’ on PlayStation 4. So sweet was the play, that even the Fruta Conquerors supporters couldn’t resist applauding.Fruta Conquerors created a few chances of their own, but, resolute defending and good goalkeeping ensured that the Army went on to claim the tournament’s $2M winners’ purse.Wilson told Chronicle Sport that the win on Wednesday over Fruta Conquerors is “a win for the sport in Guyana, it’s for the development of the game and for all the coaches and people/players who struggle in this sport in Guyana.“It’s for the Army, the organisation and the team. This job is never easy and I hope they (the Army) use it as a turning point in showing that we can achieve things once we commit to working hard and staying disciplined.”Meanwhile, Orin Yarde netted a hat-trick to help Santos secure a 3-2 win over Guyana Police Force (GPF) in a game that had fans on the edge of their seats and had to be decided in extra time. Trayon Bobb and William Europe were the scorers for Police.last_img read more

HRI boosts coverage of Irish racing with RTÉ agreement

first_img StumbleUpon Share Submit Share UK Tote secures agreement with HRI and Tote Ireland April 28, 2020 Irish racing cancelled as Varadkar increases COVID-19 measures March 25, 2020 Irish racing gets green light to resume in June May 15, 2020 Related Articles Marking the return of racing, Horse Racing Ireland (HRI) has secured a new broadcast agreement with Raidió Teilifís Éireann (RTÉ) to boost the coverage of the sport.As part of the agreement, RTÉ confirmed that it will be launching a series of new one-hour evening programmes on Fridays, Saturdays and Sundays in June and early July.Coverage will be presented by Hugh Cahill with guest analysts joining regulars Jane Mangan, Ted Walsh and Ruby Walsh.Group Head of Sport at RTÉ, Declan McBennett, added: “Live Sport is an integral part of Irish life and RTÉ Sport is delighted that it is returning across all RTÉ platforms. For everything that it brings in terms of physical exercise, mental wellbeing, social and community cohesion and economic stimulation the benefit of sport will again be appreciated by all.“Horse Racing in this country is a key component of that and Horse Racing Ireland are to be commended for getting racing back in a safe and responsible manner.”Earlier this month, Irish racing was given the green light to return behind closed doors, with fixtures permitted from 8 June.In accordance with government guidelines, only key personnel necessary to run the fixture will be permitted to be on-site, and will be subject to a health survey and thermal temperature screening on entry.Brian Kavanagh, Chief Executive of HRI, said: “RTÉ has always been very supportive of racing in Ireland and today’s announcement confirms that commitment. The new one-hour evening programmes are an opportunity for Irish racing to attract people to our sport and educate those new fans on what makes racing so exciting.“We appreciate the flexibility shown by the RTÉ team around the new dates for the Irish Guineas in June and really look forward to their live coverage of our opening Classics, as well as this new departure.”last_img read more

Giants’ Tim Lincecum ends Dodgers’ winning streak at seven games

first_imgSAN FRANCISCO >> Tim Lincecum shut down the first-place Dodgers with some sparkling double-play defense behind him, and the San Francisco Giants came out of their first day off seemingly refreshed to beat Los Angeles 6-2 on Tuesday night.Justin Maxwell hit a two-run homer in the eighth inning and San Francisco won for just the second time in 11 games behind Lincecum’s first victory in three starts, snapping the defending division champion Dodgers’ seven-game winning streak.Nori Aoki, Brandon Crawford and Buster Posey hit RBI singles for the Giants, who turned four double plays for Lincecum (1-1) including in the first two innings.The two-time NL Cy Young Award winner struck out five in six innings, allowing five hits and one run with three walks. A marquee matchup is on tap for tonight between reigning NL MVP and Cy Young Award winner Clayton Kershaw and World Series MVP Madison Bumgarner in a likely duel of top left-handers. It marks the fourth time they have met and first since Sept. 13, 2013. It’s the first time the reigning regular-season MVP goes opposite the World Series MVP in a starting pitching matchup, according to STATS.Maxwell, getting a rare start, tripled in the second off Brett Anderson (1-1) and scored on Brandon Crawford’s bunt single moments later.Maxwell made a remarkable catch in foul territory while crashing into the wall in right field on Yasiel Puig’s hard-hit ball in the eighth. Maxwell’s left knee and side made hard contact with the cement portion of the wall and athletic trainer Dave Groeschner and center fielder Angel Pagan came over to check on him. Puig clapped for Maxwell from the dugout as the outfielder shook off his tender wrist and stayed in the game.He added to his big day with the homer to deep left in the bottom half, his first with the Giants.Puig went 2 for 4 while returning to the Los Angeles lineup from his own injury after missing four of the previous five games with a sore left hamstring. Lincecum, who cut his hair since his last start in a rocker-inspired ‘do, bounced back from a 4-2 defeat to Colorado last Wednesday. After Jean Machi walked the bases loaded in the ninth, Santiago Casilla came in and threw a wild pitch that scored a run before finishing for his fifth save in as many tries.Anderson was done after four innings and dropped to 0-3 in four career starts against San Francisco.Rookie Dodgers center fielder Joc Pederson singled and walked twice as he spent his 23rd birthday playing in front of family and friends in his native Bay Area.AlsoDodgers closer Kenley Jansen will continue throwing bullpens every other day until he’s ready to face live hitters in his recovery from left foot surgery. “Basically he’s going through spring training right now,” manager Don Mattingly said. “He’s on track for us. He’s got a ways to go. He hasn’t had any setbacks.” … Last year, Kershaw (1-1) went 3-0 with a 1.69 ERA in four starts against San Francisco. … Bumgarner (1-1) is 11-5 with a 2.54 ERA in his first 17 outings, 16 starts, against the Dodgers and went 3-2 in five appearances last year while allowing two or fewer runs in four of those. … Outfielder Chris Heisey, acquired in a December trade from the Reds, joined the Dodgers from Triple-A but had yet to be activated. Mattingly remained mum on Heisey’s potential role.“We wouldn’t fly him here for no reason,” Mattingly said.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more