Karch criticises German pension system’s interest rate sensitivity


first_imgThe German occupational pension system has overlooked its interest-rate risk sensitivity, a dependency that will force it to re-evaluate its approach to guarantees, according to Heribert Karch, chair of the country’s pension association.Karch, chairman of the aba and chief executive at MetallRente, said that, following the collapse of Lehman Brothers, the German pensions sector was proud of how well it weathered the crisis.“But we overlooked how sensitive to interest rates we were,” he told the aba’s annual conference in Berlin this week.“Today, we still finance a greater number of countries than we do economies. This results in a interest rate dependency and a sensitivity to interest rates that forces us to re-think the dilemma of [low] returns and guaranteed [payments].” Karch called for the industry to truly re-think the issue and not simply assume a defensive stance.“If we can come to a sensible agreement, then I am not worried that we can ensure [income] security for employees.”The chairman’s comments came shortly after the German government received two detailed reports on pension reform, examining possible tax incentives to boost participation and the role of collective bargaining agreements.The respective ministries, for finance and social affairs, have offered tacit support for one of the main findings, proposing the use of an auto-enrolment system to boost participation rates.However, aba and Karch warned against attempts to introduced a defined contribution-based system, without any guarantees, noting it would be a difficult reform to sell.“The federal government must now look at the numerous reform proposals and settle on the right shape of reform.“The aba stands ready to offer its assistance – both with the big picture and the detail.”last_img read more

Medicinal cannabis still not favoured by doctors


first_imgRadio NZ News 23 September 2020Family First Comment: “Research by the New Zealand Medical Journal and published by NZ Doctor in June, showed that 79 percent of GPs in New Zealand had concerns prescribing it. Medical director of the Royal New Zealand College of General Practitioners, Dr Bryan Betty said there was still not enough evidence of its benefits.”www.saynopetodope.org.nz/medicinalCannabis became legal medicine in New Zealand in April.One of New Zealand’s newest medical cannabis companies, Tauranga based Eqalis, said a medical diagnosis was needed in order to get the full effect of medical cannabis, for the condition being treated.Chief medical officer Elizabeth Plant said medical cannabis was complex and in order to work properly, specific ratios of compounds were needed in the active ingredients.“You have to make sure the dose is safe and effective and it’s more about low THC and high CBD.”Tetrahydrocannabinol (THC) and cannabidiol (CBD) were the two primary cannabinoids that occur naturally in the Cannabis sativa plant.CBD was non-psychoactive, meaning it would not get the user high, and therefore appeared more frequently than THC in dietary and natural supplements.Plant said prescribing for medical use was a delicate balance.Research by the New Zealand Medical Journal and published by NZ Doctor in June, showed that 79 percent of GPs in New Zealand had concerns prescribing it.READ MORE: https://www.rnz.co.nz/news/national/426757/medicinal-cannabis-still-not-favoured-by-doctorsKeep up with family issues in NZ. Receive our weekly emails direct to your Inbox.last_img read more

WLAX : Orange looks for 5th straight home victory in matchup with rival Big Red


first_img Published on April 25, 2011 at 12:00 pm Comments Gary Gait said Cornell is playing for respect. The Big Red has not had a strong season, struggling even more than Syracuse, but the upstate New York rivals are not to be discounted in the SU head coach’s mind.The unranked Big Red has a 5-7 record. Syracuse (7-7) has spent all but two weeks this season in the Top 25. Cornell lost at home to a Rutgers team that Syracuse beat on the road. Syracuse has played one of the hardest schedules in the nation this season. Cornell hasn’t.But Gait expects Cornell to come to the Carrier Dome and give the Orange a run for its money.‘They’re always going to play us tough,’ Gait said. ‘The last two years they haven’t been in the Top 10 or anything like that, but they’ve been tough to us. They show up. It’s an upstate rivalry, and I think they always play for respect.’Despite Tuesday’s matchup with Cornell being a single nonconference game amid a run of eight Big East matchups, Syracuse expects the Big Red to maintain or even escalate the level of play the Orange has been facing. Five of Cornell’s players went to high school in the greater Syracuse area, creating a local rivalry between the two squads.AdvertisementThis is placeholder textSyracuse has won its past four home games and is looking to continue its hot streak against the Big Red as the season enters the final stretch. SU is coming off a win Saturday against a Cincinnati team winless in Big East play. While the game was important for SU’s conference record — and also clinched a Big East tournament berth for the Orange — it was somewhat of a prelude to the Cornell matchup.Saturday’s game gave Syracuse a chance to experiment and work out the kinks. It fostered confidence. Even if that confidence will be tested by Cornell.‘You feel good,’ Gait said. ‘Everybody feels happy, but you’ve got to stay focused and mentally tough because you’re going to have a much bigger challenge coming Tuesday.’Although the Cornell matchup has no bearing on Syracuse’s playoff chances, senior attack Tee Ladouceur said the players do not think of the game any differently. Fellow attack Michelle Tumolo said any game can indirectly affect the playoffs.‘Every game’s a game,’ Tumolo said. ‘It’s just a step to getting better.’As has been the case for much of the season, Syracuse’s main focus will be on winning draw controls. The team struggled with winning the draw for much of the season.Cornell’s strengths lie in its offense. Syracuse will watch out for some leadership in the attack, specifically from the captain, Libby Johnson. Defender Janelle Stegeland said after watching film of the Big Red, the defense is preparing for some of its specific offensive plays.‘They’ve got a great crease play,’ Stegeland said. ‘We watched film this morning, and we see them running that a lot. So I think we’ll definitely be focusing on that.’But for a Syracuse team that is 2-6 in nonconference games, Cornell will provide a final chance to improve its record outside the Big East. This will also be the last game the seniors play at home, although Senior Night took place Saturday.Last year, Syracuse traveled to Cornell and won 7-6, thanks to a save by goalie Liz Hogan as time expired. Going into that game, Syracuse had a record of 9-4 while Cornell was just 7-5.So this year, SU looks at the matchup with Cornell as only a rivalry game once again. It goes beyond numbers, meaning the Big Red’s subpar season doesn’t mean a thing.‘Regardless of what either team’s records say, it’s going to be a good game, a hard-fought game,’ Hogan said. ‘We’re going to need to come out strong and play them well.’alguggen@syr.educenter_img Facebook Twitter Google+last_img read more

Clippers’ Paul George anticipates ‘fun’ reunion against Russell Westbrook


first_imgLOS ANGELES — All that offseason shaking and baking was the recipe for a liberal mix of delicious new matchups around the NBA – including Friday’s in L.A., pitting Paul George and Russell Westbrook against each other for the first time since they were Oklahoma City Thunder teammates.“It’ll be fun,” George said Friday at shootaround.Via offseason trades, George, a Palmdale native, landed in Southern California with Kawhi Leonard and the Clippers, and Westbrook was teamed with fellow Angeleno James Harden in Houston, with the Rockets.Although the George-Westbrook partnership didn’t advance past the first round of the Western Conference playoffs in the two seasons it lasted, it otherwise worked in a lot of ways – especially for George. “I knew it was going to work. Russ is a winner. Russ wants to win, Russ does whatever it takes to win,” George said. “My time playing with him, Russ don’t really have an ego. He puts his ego to the side. He allowed me to be myself, he allowed me to be comfortable. And I had one of the best (seasons) of my career while playing alongside him. Russ is a heckuva teammate.”He’s made Houston a heck of a lot more dangerous, Clippers coach Doc Rivers said.“He adds pace. I said that right away. when that trade happened,” Rivers said. “People were like, ‘This won’t fit.’ I was like, ‘Oh my god, Houston’s gonna have pace now.’ This is what the league’s coaches have always feared. They’re already a good offensive team, now add pace to that, that makes them tougher, and he’s done it.”George knows about that, too, he said, remembering having to alter even his off-the-court habits to keep up with Westbrook.“I had to change my diet, I had to change my conditioning,” George said. “Coming from the East to the West was a big adjustment, but then playing alongside Russ was an even bigger adjustment, just because he’s a blur. He gets up and down the court so fast and he creates action so fast that you got to be ready.”SHAMET UPDATE: SHOESRivers said he doesn’t know how long it will be before he can expect to reincorporate Landry Shamet, the Clippers’ second-year shooting guard – sidelined with an ankle sprain – back into the rotation.The Clippers have been bugging Shamet, Rivers said, just not about a return date.“We have this thing with Landry, and I think it’s irritating him, but we keep saying, ‘If you can put on a shoe, you can walk, if you can walk you can run, if you can run, you can sprint, if you can sprint you can play,’” Rivers said. “He’s wearing shoes now, so that’s better than what he was doing.“I talk to him every day, and I have yet to ask him, like, ‘When do you think you’re coming back?’ I just always think when a coach asks that question, a player thinks that’s pressure. So I literally never ask that question.“But,” Rivers confirmed, “he’s wearing shoes.” George finished third in league MVP voting last season, averaging career-highs of 28 points and 8.2 rebounds, and a career-high-tying 4.1 assists per game – despite shoulders that needed surgery once the season was over.So it was George’s own experience that told him that the Westbrook-Harden pairing would play out well for the Rockets, who entered Friday’s game 11-4.“They are one of the best teams in the West, so they are working well,” said George, who’s recently returned from the surgeries that repaired a partially torn tendon in his right shoulder and a partial tear of his left labrum, and who entered Friday’s game averaging 28.3 points, 6.3 rebounds and 4.8 assists in his first four games with the Clippers.“I don’t really watch too much of the Rockets, but I know their standing and what their record is, and the indication of that is they are playing well this year.”While Westbrook came into Friday averaging 21.8 points, 7.9 rebounds and 6.9 assists this season, Harden was averaging a league-best 38.4 points, 7.5 assists and 5.8 rebounds while shooting 42.9 percent.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more