Dutch regulator lowers ultimate forward rate to ‘more realistic’ level

first_imgThe Dutch regulator (DNB) has adjusted the ultimate forward rate (UFR) – used by local pension funds as a discount rate for liabilities since 2012 – from 4.2% to the more “realistic” level of 3.3%. The regulator said the move was unlikely to cause any further pension rights discounts.It conceded, however, that coverage ratios were set to drop “slightly” and that roughly a dozen schemes would have to submit recovery plans. The regulator also acknowledged that the drop in the UFR could lead to contribution increases but said this would depend on the way schemes had set up their premiums, as well as on current contribution levels.  With the adjustment, DNB follows the recommendations of a committee of Dutch experts commissioned by Jetta Klijnsma, state secretary for Social Affairs.Although the UFR committee published its findings in October 2013, the regulator called for its implementation to be postponed, pending the conclusion of Solvency II rules for insurers.It said the new UFR would better reflect market-rate developments and therefore ensure a more balanced approach for older and younger participants.“A too high discount rate,” it said, “would mean too generous pension benefits and too low contributions – and their effects being transferred to the future.”The UFR was meant to cushion pension funds and their participants against overly stringent measures as a response to financial market shocks.The initial discount rate was based fully on market rates.last_img read more

Rodgers, Vardy laud Ndidi’s support in Leicester’s 3-0 win over West Brom

first_imgLeicester City manager, Brendan Rodgers, and forward Jamie Vardy have showered encomium on Wilfred Ndidi following his impressive performance in their 3-0 victory over West Bromwich Albion on Sunday. The midfielder was drafted into the center-back role in their opening Premier League game against the newly-promoted side, the Baggies. The Nigeria international paired Caglar Soyuncu at the heart of the Foxes’ defence following the unavailability of Jonny Evans, Wes Morgan and Filip Benkovic. Ndidi gave a good account of himself in the encounter, making 105 touches and had an 88% successful pass rate to help his side keep a clean sheet. Timothy Castagne’s strike and Vardy’s brace handed the King Power Stadium outfit all three points at the Hawthorns. Rodgers is not surprised by the performance of the Super Eagles star, explaining the midfielder has previously starred at centre-back for his side during one of their pre-season games. “Ndidi playing at centre-back was outstanding. He played 60 minutes there in a pre-season friendly,” Rodgers told BBC Sport.Advertisement “He did play there earlier in his career. He’s got the profile to play there – he’s big with a good leap. “Even if he’d played there all his life it would be tough coming back from everyone playing different systems with national teams. It would always be difficult to be cohesive after a couple of days training.” Vardy also praised the Nigeria international for excelling in the unfamiliar role while also hoping his side can build on the victory at the Hawthorns. “We need to keep going, we need to continue working hard in training, taking it into the games,” he told Sky Sports. “Wilf [Ndidi] has played centre-back today, I think he’s done really well, it is not his natural position”. Ndidi has been a consistent performer for Leicester City since he joined the side in January 2017 from Genk. The Nigeria international has made 121 Premier League appearances for the King Power Stadium outfit and last season he also featured prominently as they finished fifth. FacebookTwitterWhatsAppEmail分享 Loading… center_img Promoted Content6 Unforgettable Shows From The 90s That Need To Make A Comeback18 Cities With Neverending Tourist-Flow8 Addictive And Fun Coffee FactsInsane 3D Spraying Skills Turn In Incredible Street ArtPortuguese Street Artist Creates Hyper-Realistic 3D GraffitiTop 10 Most Romantic Nations In The World7 Most Beautiful Indian Top Models EverBest Car Manufacturers In The World8 Things You Didn’t Know About Coffee6 Incredibly Strange Facts About Hurricanes8 Shows That Went From “Funny” To “Why Am I Watching This”9 Facts You Should Know Before Getting A Tattoolast_img read more