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Unilever pension funds buck trend to launch Dutch APF

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first_imgThe pension funds of three financial sector firms, including the scheme of KAS Bank, recently put plans to launch a joint APF on hold after they concluded that insurers’ APFs were likely to charge much less.Although the APF was designed as a solution for pension funds seeking to cut costs and increase board expertise, applications for a license to operate an APF have been almost exclusively submitted by insurers.Insurers Aegon, ASR, Centraal Beheer, Delta Lloyd and Nationale Nederlanden (NN) have all unveiled plans for APFs.Aegon, Centraal Beheer and NN said their APF would co-operate with their respective providers: TKP, Syntrus Achmea and AZL.Last month, PGGM, the €182bn asset manager and pensions provider for the healthcare scheme PFZW, also submitted an application.On its website, it said it intended to target small company pension funds.The Dutch financial regulator is expected to issue the first APF licences within a few weeks. Progress and Forward, Unilever’s company pension funds in the Netherlands, have said they will join the company’s new general pension fund (APF) from 1 July.According to a spokeswoman, the APF’s main purpose is to reduce board costs at the €6bn defined benefit scheme Progress, which closed to new participants at the end of 2014, and its new collective defined contribution plan Forward.She said it was “unlikely” the Unilever APF would also provide pension arrangements for other employers.To date, the Unilever schemes are the only pension funds to endeavour to set up an APF in the Netherlands.last_img read more

Look for new jobs: Akinfenwa’s Wycombe tells furloughed staff

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first_img Action from Wycombe Wanderers versus Rochdale which ended 2 – 1 in favour of Wycombe “It is apparent that the club’s losses as a result of the Covid-19 outbreak may exceed £2.5m. If we are required to play games behind closed doors, whether to try to complete the season or in play-offs, these costs will go up. “Going forward, these furloughed employees will receive 80 per cent of their salary with a maximum payment of £2,500 per month. We are also recommending that they begin the search for alternative employment once furlough ends.” Read FIFA 20: Mexican brothers cover 5,500-mile to watch Akinfenwa Wycombe’s fate on the pitch this season remains up in the air as League One clubs have still yet to vote on whether to end the season, with a decision not likely to come for another week. Akinfenwa who got a fresh one year contract in June 2019 has scored 46 goals in 152 appearances for Wycombe since 2016. FacebookTwitterWhatsAppEmail分享 Loading… Effect of the Covid-19 pandemic continues to dig deep into more clubs as league one side Wycombe has told its non-playing staff to look for new jobs. Wycombe which has Nigeria born Adebayo Akinfenwa in their striking force revealed they are close to losing £2.5m no thanks to the Pandemic. The development has also cut short defender Jason McCarthy’s loan spell from Millwall as the club can no longer afford to pay. At the start of the year before the pandemic hit, Wycombe were sitting top of the league and were mounting a serious push to the Championship – a league they have not reached in their entire 133-year existence – but their form tailed off and they dropped to eighth when the league froze in March. Chairman Rob Couhig, who bought the club in October 2019, said on the team’s official website: “The club has essentially been without revenue since the beginning of March. Our loss of revenue even with the utilisation of the furlough plan has exceeded £1m through the end of May.Advertisement Promoted ContentSuperhero Castings That People Hated But Were AmazingBoys Deserve More Than Action-Hero Role ModelsA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreWho Earns More Than Ronaldo?World’s Most Delicious FoodsTop 7 Best Car Manufacturers Of All TimeThe Most Exciting Cities In The World To VisitWhich Country Is The Most Romantic In The World?6 Incredibly Strange Facts About Hurricanes2020 Tattoo Trends: Here’s What You’ll See This YearBirds Enjoy Living In A Gallery Space Created For Themlast_img read more

Muslim hajj pilgrims ascend Mount Arafat for day of worship

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first_imgMount Arafat (Saudi Arabia): More than 2 million Muslims are gathered at the sacred hill of Mount Arafat in Saudi Arabia for an intense day of worship and reflection on what’s considered the climax of the Islamic hajj pilgrimage. Some had tears streaming down their faces as the men, wearing simple white garments, and women raised their hands in worship on the slopes of the rocky hill. Many walked through the pre-dawn darkness early Saturday to the hill where the Prophet Muhammad delivered his final sermon some 1,400 years ago, calling for equality and unity among Muslims. One of the largest religious gatherings on earth, the second day of the hajj is often the most memorable for pilgrims. They stand shoulder to shoulder with Muslims from around the world seeking God’s mercy and blessings.last_img read more