OECD calls for standardisation to create tradable longevity market

first_imgIt further urged pension investors to update their mortality assumptions regularly and ensure these recognised future mortality improvements, suggesting that failure to do so risked underestimating liabilities by 10%.“Likewise,” the report continued, “the use of assumptions that are not reflective of recent improvements in mortality can expose the pension plan or annuity provider to the need for a significant increase in reserves.”One of the suggestions to better address longevity risk was for the regulatory framework to be risk-based, so that a pension plan’s actions to mitigate any risk would be incentivised.However, the report raised concerns about the “potentially limited” capacity of insurers and reinsurers to take on risk, instead proposing that capital markets offer solutions that allow longevity risk to be traded.It said such tradable solutions could offer a “promising alternative” for pension schemes unwilling to increase risk buffers to retain their longevity risk.But it said it would be vital that the market offer standarised products and be transparent, with the development of longevity indices key to such a step. The OECD has called for greater standardisation and transparency in the pricing of longevity risk to allow for growth in the de-risking market.The think tank also reiterated earlier calls for the issuance of longevity bonds and governments to back the creation of functional longevity markets as it published its 2014 Pensions Outlook.Alongside the report, the body also published a detailed assessment of mortality assumptions and longevity risk, suggesting regulators should take a more proactive role in encouraging pension funds to manage their longevity.“More transparency and standardisation in the pricing of longevity instruments would aid potential investors in becoming comfortable with investing in longevity risk and allow for the further development of index-based instruments,” the report said.last_img read more

Assassination threat against Trinidad PM

first_imgNewsRegional Assassination threat against Trinidad PM by: – November 25, 2011 6 Views   no discussions Sharing is caring! Share Trinidad and Tobago Prime Minister, Kamla Persad BissessarPORT OF SPAIN, Trinidad — Trinidad and Tobago Prime Minister Kamla Persad-Bissessar said recent intelligence that has revealed an assassination threat against herself and members of her government meant that government’s actions to deal with crime are having the desired effect as the criminal element is finally being confronted.She assured the national community that the security forces are in control and the criminal element has always been anticipated, hence the reason for uncovering the threat.She said at this time there is no consideration to reinstituting a curfew and government will continue to be advised by law enforcement agencies about the state of emergency. The prime minister was speaking at the post Cabinet press conference on Thursday. Persad-Bissessar said the threats were “cowardly” and government will “stop at nothing to return the state to a peaceful state”. She said she was not surprised by the threats, simply because “we have disrupted their illegal business”. She said the law enforcement agencies will intensify the pressure on the criminal elements and commended them for their intelligence gathering. She assured that the law enforcement agencies will continue to protect citizens. The prime minister said it would be reckless to disclose details of an ongoing investigation and said her schedule will not be reduced. She said while it was a personal concern, her greater concern is for the people of Trinidad and Tobago. Asked her thoughts on some members of the protective services being involved, the prime minister said while “It is disturbing…it is not something totally unexpected because for years we have been hearing about bad elements of the protective services and law enforcement agencies…there are good human beings and there bad human beings…nothing surprises me anyone”.Persad-Bissessar said she had held discussions with the opposition leader Dr Keith Rowley about the threats and Commissioner of Police Dwayne Gibbs will meet with Rowley to share details of the intelligence gathered. Gibbs in his statement said the law enforcement agencies were working assiduously to ensure the safety of everyone in Trinidad and Tobago. The prime minister said since the start of the state of emergency on August 21 to November 23, 2011, there have been 7,269 arrests. Of that figure, 6.4 percent or 463 persons were arrested for gang related activities. She said the majority of persons arrested were for other or serious crimes. She said $1.5 billion in illegal drugs were seized or destroyed; 13,183 rounds of ammunition and 34 magazines recovered; and 173 firearms seized. She said each bullet was a life and one gun can take out at least 20 persons.Caribbean News Nowcenter_img Share Tweet Sharelast_img read more

Wellington High School holding Spirit week; Don’t forget homecoming parade is Thursday, 6:30 p.m.

first_imgThe Seuss Girls.Sumner Newscow report — It is that week. Wellington High School is holding Spirit Week as part of the homecoming festivities.These girls, from left: Abby Goodrum, Ryleigh Buck, McKenna Oathout, Hannah Roths, Allison McCue, and Madi Adams dressed up as the Seuss Girls  – a knockoff of  the Spice girls.Don’t forget the homecoming parade is set for 6:30 p.m. Thursday a pep rally and then bonfire will be held thereafter at around 7:30 p.m. in front of the Wellington High School:The full high school schedule is below. For the full 2014 Fall Festival including the Wellington Area Chamber of Commerce activities click on the ad on the right… Wednesday- Mr. Brown Can Moo Can You? Favorite Dr. Seuss character or AnimalThursday- The Sneeches- Go all out and wear your starsFriday- One Fish, Two Fish, Red Fish, Blue Fish- Wear red to show your Crusader PrideFriday evening: Wellington vs. Andale. Homecoming dance follows.Follow us on Twitter. 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 WordPress.com 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 WordPress.com 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 WordPress.com 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