Report lays out plan for German pension dashboard

first_imgA report commissioned by the German government has proposed a centralised ‘pension dashboard’ to give savers a calculation of their total accrued pensions in the first and second pillars.The proposal was contained in a 180-page report by consultancy group Aon and the Institute for Insurance Science at the University of Ulm, and presented at this year’s Handelsblatt occupational pensions conference in Berlin.It outlined the concept of a secure website where German savers could get a calculation of their accrued pension rights and possible future accruals from existing supplementary pension plans as well as the first pillar.The website would then collate all the available data and calculate a possible future monthly retirement income estimate, stating it as a purchase power equivalent value for the time of the request. The government had commissioned the report to look into the challenges and advantages of introducing a “cross-pillar pension information system”. Germany’s government has confirmed plans to explore a pension dashboard conceptKonrad Haker, from the German social ministry BMAS, confirmed the pension dashboard was on the government’s agenda.“Over the next week we will hold talks with the stakeholders and consensus will be necessary on fundamental decisions such as the scope of the platform, its structure and how it should be run,” he said.Last year, the government set up the Deutsche Renten-Information to create a pension dashboard. In a preliminary project it invited a sample of German citizens to upload their pension information and obtain an estimate of their retirement income.However, as stated in the new report, it became clear that, while people would have liked to have this cross-pillar accumulated calculation, only a few provided the data and some provided information irrelevant to their retirement income.The dashboard plan The authors of the study proposed a centralised digital platform – probably overseen by a government department – for information coordination but not for data storage.Data on accrued pension rights would only be collated when a registered user requests the information.“Afterwards all the information would be deleted from the platform again and it would only be stored with the pension providers that already have the data,” said Hans-Joachim Zwiesler, a professor at the University of Ulm and one of the authors of the report.He said the model calculations of a possible future monthly retirement income “should be made available to the user” for download as it “could be used when seeking professional advice” on supplementary pension arrangements.However, Zwiesler emphasised that the platform would “not consult” on any products or action to be taken.The study proposed a pension glossary and “general information” on retirement provision to be included in the dashboard. It could also be used to inform members about possible tax advantages of certain pension provisions, or the possibility of making top-up payments.Information standardsRegarding the information provided by companies and pension providers, co-author Gundula Dietrich, a partner at Aon, said it was “not expedient to completely leave it up to them to provide information”.As a first step, the researchers said they would like to see providers “co-operate in a trial run” of a possible future pension dashboard.However, the German government would first have to agree on starting such a trial, as well as the legal framework to accompany it.Dietrich and Zwiesler called on all stakeholders to start at least a “lite” version of an information tool “as soon as possible”.They also hoped for a knock-on effect on pension data standards, as information requirements could help providers standardise their data and – in some cases – “get the boxes with files out of the cellar”, as one audience member put it.Lukewarm receptionSeveral pension providers indicated to IPE that the industry was not entirely keen on the project.Representatives of larger companies with in-house pension plans and good information on occupational pensions claimed their members were well-informed enough and could already get more details – including calculations on future accruals – at any time.On the other hand, people working at smaller, multi-employer Pensionskassen argued that an information service such as a dashboard would be important to have.“We think the project is feasible and it might be good just to start off by providing users with an information on where they accrued pension rights,” Dietrich said.After a pilot phase – provided there was political consensus for the project – she estimated that the “actual start” would be scheduled for “two to three years’ time”.In an online survey at the Handelsblatt conference, delegates were asked which income should or should not be included in a future pension dashboard. Of the respondents, 81% said they would exclude income from real estate rental, while 16% would not want fund investments included.The study (in German) can be downloaded here.last_img read more

International Friendly: Ghana 0-1 Montenegro

first_imgA second minute penalty condemned Ghana to a 1-0 defeat in a World Cup preparatory match against Montenegro.Fatos Beqiraj coolly converted the penalty after an untimed tackle from David Addy in the vital area and the men from Montenegro held on despite several incursions from the Black Stars.The Stars dominated for most part of a game that was punctuated with lots of fights and crunching tackles but failed to take their chances. It did not look like a friendly match, as the tackles, shoves, punches flew from all directions but the referee was lenient and did not show a red card even though a number of yellow cards were given.It was Christian Atsu who was presented with a golden opportunity for the equaliser in the 7th minute but he criminally wasted the opportunity with a feeble shot.Michael Essien’s left foot shot from close range was parried to safety by the Montenegro goal keeper few minutes later.Atsu’s appeal for a penalty in the 20th minute was ignored as the Stars mounted pressure for the equaliser. In the second half the Stars introduced fresh legs in Kevin Prince Boateng Kwadwo Asamoah, Sulley Muntari and later Asamoah Gyan in a desperate search for the equaliser but it was Montenegro who had the opportunity to increase the tally but a clever chip whisked over the bar.Kevin Prince Boateng had his shot from a goal mouth scramble cleared off the line before Ghana’s Adam Kwarasey’s last gasp clearance right in the middle of the park saved Ghana from what would have been a humiliating defeat.1-0 it ended in favour of Montenegro, a result that will keep the Stars on their toes as they play in what pundits have described as the World Cup’s group of death.The Group has Germany, Portugal and USA.last_img read more

Wellington girls place 5th in cross country meet, over 585 runners at Hargis Saturday

first_imgTylerBrown1st6.30Yes 8th Grade Boys  – 1  1/2  miles DaneMonger8th7.38Yes 7th Grade Girls – 1 mile 6th Grade Boys – 1  mile Varsity Girls – 4K JoeFriesen36th20.12Yes 7th Grade Boys  – 1 mile JuliaPeck39th20.40 Jr.Varsity Girls – 2 miles MackinzeTracy37th20.14 Freshman Boys – 2 miles IsaiahRogers4th13.11Yes CabreilRoe27th18.57Yes HoustonSober53rd21.50 JacobMcDonald24th9.37Yes GracieDefore17th17.24 RaeawnaNutt11th7.50 JaedynLedesma12th17.20Yes JuanChandler11th14.23 BillyWalker5th6.53Yes TylerBenson7th13.33Yes JoTredway28th18.59Yes NickHawkins9th14.03Yes JacobFriesen86th7.36 WillLong21st15.26 LaurenScheufler21st18.01Yes Top 10 Medals  awardedcenter_img Top 10 Medals awarded by Tracy McCue, Sumner Newscow — In one of the biggest sporting events of the year, the Crusader girls cross country team place fifth at the Wellington Invitational Cross Country varsity meet held at Hargis Creek Watershed on Saturday.There were 585 runners from sixth grade to seniors in what WHS coach Charles Wallace called the largest meets Wellington ever had.Of those 585 runners, 23 WHS runners took home medals, 16 runners finished in the top 10 and two Wellington runners took first place.Jaedyn Ledesma right finishes first.Wellington finished with 125 points. Jaedyn Ledesma placed 12th at 17.20 as the highest Wellington finisher.Tyler Brown finishes first in the sixth grade boys.In sixth grade boys, Tyler Brown was a first place winner! Lindsey Scheufler was the first place winner in the sixth grade girls. Kylie Aufdengarten was second with the exact same score.Avery Osen of Winfield won the boys high school division with a 17.07 mark. Carly Flake of Andover 15.58 won the girls event at 15:58.Winfield boys were the winners with 32 points. Valley Center girls also finished with the top score of 32 points.“The weather was great for running and the Wellington runners did a great job,” Wallace said.The Wellington results are as follows:Varsity Boys – 5K WilliamDaily21stNT JacobJohnson54th21.51 LindseyScheufler1st6.49Yes MackenzieHeacock7th7.18Yes HunterBryant15th8.11 SethTunnell19th15.16 EliseLeGrand4th7.15Yes 6th Grade Girls- 1 mileTimePlaceMedal JohnWillis10th13.45Yes MontanaHeacock12th7.14 AveryBarker5th7.17Yes Novice Boys – 2 miles MattRinehart47th6.51 KennedeeLara9th7.39Yes KylieAufdengarten2nd6.49Yes McKennaJones3rd7.08Yes BlayzMarshall52nd10.44 TristtonTracy45th21.43 ZaneCornejo10th7.11Yes ReeseHeasty24th7.31Yes SkylerCrittenden18th15.09 BrentWilliams3rd13.06Yes QuinnMcCue22nd9.17 Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more

House, Senate GOP unveil competing school funding plans

first_imgDES MOINES — About $20 million separates the public school funding plans Republicans in the Iowa House and the Iowa Senate are proposing. Senate Republicans like Majority Leader Jack Whitever of Ankeny favor an increase of 2.1% in general state spending on K-12 public schools.“This is an amount that we feel allows us enough money to continue to fund our other priorities as well,” Whitver says, “Whether that’s state troopers, mental health, health care issues — we want to make sure that fits in the larger budget picture.”House Republicans have joined Republican Governor Kim Reynolds in calling for a 2.5% increase in per-student state funding. Democrats like Representative Ras Smith of Waterloo say schools really need more than 2.5% — or roughly a $100 million boost.“I don’t think it really digs our schools out of the hole,” Smith says, “understanding that we’ve dug a trench and we’re slowly filling it in like a teaspoon at a time and that’s not going to get us where we need to be.”Republicans control a majority of seats in the House and Senate, so GOP leaders will likely negotiate a school funding deal in the next couple of weeks. The decision is for general state aid for the school year that starts next fall.last_img read more