Lithuania plans major overhaul of second-pillar pensions

first_imgLinas Kukuraitis, Lithuanian minister for social security and labourIn the government’s presentation of the reforms, Linas Kukuraitis, minister for social security and labour, said the changes were essential to tackle the country’s deteriorating demographics and the low level of pensions for the poorest retirees.As a result of a falling birth rate and high emigration, Lithuania’s population has fallen by more than 23% since the start of the 1990s to an estimated 2.9m. It is expected to decline by a further 1% a year for the foreseeable future, reducing the number of workers supporting a single pensioner from 3.5 to 1.7 by middle of the century.Meanwhile, without reforms, the wage replacement ratio of current pensions was expected to fall from 42% to 34%.Contribution changesUnder Lithuania’s current “maximum accumulation” scenario, second-pillar savings in 2016-19 are funded by the so-called ‘2+2+2’ system: 2% of social security system contributions, with an additional 2% of additional payment from a salary, matched by a state contribution based on the previous year’s average state wages.  The government has proposed to change this over the coming five years to a ‘4+2’ formula, with transfers from the social security system ceasing and salary contributions doubling.For those currently paying the maximum contribution, proposed tax changes would in effect reduce the overall social security contribution, making it cost-neutral for these contributors, the government said.Employers and employees can voluntarily make contributions above 4%, qualifying for further tax relief.Alternative solutions were not deemed acceptable or feasible by the government, including raising the retirement age by eight years, increasing social security contributions by 12 percentage points, or increasing the working population by some 600,000.The reforms, if passed by the Seimas (parliament), would come into effect next year. However, the reforms include a 50% cut in pension fees, as well as a reduction in the minimum amount currently required to purchase an annuity. Pension funds will also be obliged to introduce life-cycle investment strategies.This policy has long been advocated by Bank of Lithuania, the sector regulator, which has argued that the majority of fund members were assuming either too much or too little risk for their age group. Lithuania plans to introduce auto-enrolment for younger workers as part of long-awaited major reforms to its voluntary second-pillar pensions system.The government in Vilnius yesterday announced the most radical pension system overhaul since 2013. The most significant proposal is the introduction of second-pillar auto-enrolment for workers under 40 years of age, with the right to opt out, delay or temporarily suspend payments.For the pensions industry, auto-enrolment is expected to save asset managers substantial sums in sales and marketing costs.last_img read more

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Are You At The Right Age To Get Married?.

first_imgLifestyleRelationships Are You At The Right Age To Get Married?. by: – July 1, 2011 Share Share 26 Views   no discussions By Korin MillerStudies reveal that you should reach a specific age before you get married.16-year-old Courtney Alexis Stodden recently tied the knot with her 51-year-old boyfriend Doug Hutchison. Everyone was not only baffled by their age difference, but by the fact this teen made a life-altering decision at the ripe young age of 16. Marrying young is nothing new. We’ve seen it in the past with celebs like Avril Lavigne, Britney Spears and Reese Witherspoon. And while Avril admits she got a divorce after three years of marriage because she thought she was too young, we can’t help but wonder if others have reached the same age-related issue.The Magic NumberThere are practical reasons for the mid-20s dividing line, and most of them boil down to two biggies: education and money. Turns out, the more years of higher education a woman has under her belt on her wedding day, the lower the chances that she’ll get divorced…and by 25, you’re more likely to have earned a degree or two. “Educated women tend to be more confident about who they are and less willing to settle for a man who doesn’t meet their standards,” explains Terri Orbuch, PhD, author of Five Simple Steps to Take Your Marriage From Good to Great.Odds are that by 25 you’re also supporting yourself, so there’s less incentive for you to rush into marriage because you’re seeking financial security from him.But the marriage-related benefits of working and having money of your own go beyond feeling secure, says Pepper Schwartz, PhD, author of Finding Your Perfect Match. Learning to budget your cash carefully when you’re single will help you avoid financial problems—one of the main causes of couple fights—for the rest of your life. And juggling responsibilities, dealing with differing personalities, and resolving conflicts on the job force you to develop skills that are necessary for maintaining long-term love.Knowing the Real YouAt 25, you’ve had time for some crucial life experiences, including a relationship or two that may have improved your Mr. Right radar. “You’ve probably dated enough to have a better idea of what you don’t want in a man, which makes it easier to know what you can live with and can’t live without,” says Orbuch.Perhaps the most important aspect of waiting is that you’ll know what your goals and values really are, says Paul Coleman, PsyD, author of The Complete Idiot’s Guide to Intimacy. While you don’t want to marry someone just like you, marriage is a lot easier if you two share a similar outlook on life.Twenty-four and already married to the man of your dreams? Don’t worry: Many young marriages survive. But given the choice, you might consider putting off the big day until your mid-20s or later.Source: Cosmopolitan.comcenter_img Sharing is caring! Share Tweetlast_img read more

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Bring on Ivory Coast says Appiah

first_imgGhana coach Kwesi Appiah said he would have wished to battle it out with tournament favourites Ivory Coast in the quarter-finals instead of Cape Verde.Speaking at a press conference on Tuesday, Appiah said if he had his way he would have changed the pairings to ensure that the Black Stars face the Elephants because the Blue Sharks have got nothing to lose.The former Ghana international said despite his views, he still holds a lot of respect for the Islanders and will employ every strategy to cripple their chances of making history with the Black Stars.“We need to respect Cape Verde,” Appiah said. “They are 100 per cent disciplined. It is not going to be easy. We need to work more to go past them.”He added: “I’ll prefer to meet Ivory Coast than meeting Cape Verde. When you are playing a team that has got nothing to lose it’s difficult because there is no pressure on them. That is the fear in me.”Ghana have booked a quarter-final date with the debutants on Saturday after leading their group following an emphatic 3-0 win over Niger.last_img read more

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Pedro Strop rips Yasiel Puig after hit by pitch incident: ‘He’s stupid as f—’

first_imgHitting Yasiel Puig in the batter’s box? Not a great idea. pic.twitter.com/IaeeuSvqy1— FOX Sports Ohio (@FOXSportsOH) June 29, 2019Things calmed down after the game, but Strop didn’t understand why Puig was so upset. “He just reacted like that,” Strop said. “Maybe because it was a 3-0 pitch, maybe it looks weird. I wasn’t commanding my sinker, and I didn’t want to leave a cookie 3-0. He’ll swing 3-0 and hit it way out of the park. He just acted stupid.”I told him, ‘Why are you talking? You have a chance to do whatever you need to do on the mound. Now you’re just screaming.” Puig said he hasn’t had any previous incidents like this with Strop, but he hopes everyone can move forward and focus on the next game of the series. “I don’t know. You need to ask (Strop),” Puig said. “Myself and my teammates want to go out tomorrow and win the series. … We’ll play the game tomorrow and forget about what happened today.”The Cubs ended up winning, 6-0, after the Reds won Friday’s game. The two will play again Sunday at 1:10 p.m. ET to close out the three-game series. Cubs reliever Pedro Strop made it known he was not happy with Yasiel Puig after a hit by pitch incident in Saturday’s game against the Reds. “It’s not a secret he’s stupid,” Strop said of Puig (via the Chicago Sun-Times). “He’s stupid as f—. I mean, I have nothing against him, but he’s stupid. There’s no doubt about it.” MLB wrap: Brendan McKay was ‘fun to watch’ in debut with Rays It all started when Puig was hit by a pitch with two outs in the eighth inning. Strop hit Puig in the left thigh with a 94-mph fastball, causing a strong reaction from Puig as he threw his helmet to the ground and started yelling as he walked toward the mound.The benches from both sides cleared as they came to defend their teammates. Puig had to be held back, but no punches were thrown. Related Newslast_img read more

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Middletown Promotes Three Police Officers

first_imgMIDDLETOWN – The Middletown Township Police Department has promoted one officer to the rank of Lieutenant and two officers to the rank of sergeant.Interim Lieutenant Sean P. Sweeney has been promoted to Lieutenant. Interim Sergeants Charles J. Higgins and Jason M. Caruso accepted their oaths of office at the Township Committee meeting Monday.“These promotions represent a significant milestone in their careers, and they should be very proud of everything they have accomplished,” said Police Chief R. Craig Weber. “I am confident they will continue to do a good job for the department.”Lieutenant Sweeney, a Monmouth County resident, was promoted to the rank of Sergeant in 2010.He joined the Middletown Police Department in 2002. He was previously employed as a Union Beach dispatcher and Special Officer. He attended the Monmouth County Police Academy for Special 1 and Class A Certification. Lt. Sweeney has also studied criminal justice at Brookdale Community College.His parents, Michael and Betty Sweeney, his children Eric, Ashley, Jena and Patrick and his girlfriend Lynn Nelson were in attendance when he accepted his oath of office.Sergeant Higgins joined the Middletown Police Department in 2006. During his tenure he has served as a Field Training Officer. Sgt. Higgins is the recipient of a Middletown Township Life Saving Award and a MADD Award. He has studied criminal justice at Brookdale Community College and Montclair State University. Sgt. Higgins, an EMT, currently resides in Middletown. He’s originally from Manasquan.His wife Jamie, daughters Hailey and Rylee and his son Luke were in attendance when he accepted his oath of office.Sergeant Caruso, a Monmouth County resident, joined the Middletown Police Department in 2008. He graduated first in his class at the Monmouth County Police Academy and has a bachelor’s degree in criminal justice from Monmouth University. He resides in Howell.His wife Lauren and parents Deborah and Michael Caruso were in attendance when he accepted his oath of office.– Madelynne Kislovsky contributed to this storylast_img read more

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MASSIVE TOTAL PICK SIX POOL OF $1,537,686 RESULTS IN $101,623.60 PAYOFF AS 10 TICKETS TAB ALL SIX WINNERS; SINGLE TICKET JACKPOT CARRYOVER GROWS TO $212,103

first_imgARCADIA, Calif. (Dec. 30, 2016)–With a two-day carryover helping to create a total Pick Six pool of $1,537,686 on Friday at Santa Anita, there were 10 perfect tickets, each worth $101,623.60.Santa Anita’s newly created Single Ticket Pick Six Jackpot was not hit on Friday, so with three days of Winter Meet racing in the books, there is a Single Ticket Jackpot carryover of $212,103 into Saturday.First post time for a nine-race card on New Year’s Eve is at 12:30 p.m. The Pick Six, which begins with race four, has an approximate post time of 2 p.m. PDT.Admission gates open at 10:30 a.m. For scratches, changes and complete morning line information, please visit santaanita.com.last_img

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‘Betrayed’ Mourinho turns on Chelsea players

first_imgLEICESTER, England (AP):The most remarkable Premier League story in years shows no sign of ending. After only narrowly avoiding relegation last campaign, Leicester (35 points) lead the heavyweights (Arsenal, 33, Manchester City, 32, Manchester United, 32) of England by at least two points nearly halfway through this season.Jamie Vardy (34th) and Riyad Mahrez (48th) scored for Leicester, while Loic Remy reduced the deficit close to time.”It’s magical,” said Leicester manager Claudio Ranieri, who used to coach Chelsea. “I don’t want to wake up.”Chelsea manager Jose Mourinho turned on his players after the team’s latest loss in their dreadful English Premier League title defence, saying yesterday he felt “betrayed” and accusing them of not trying their best.”If I was a player, I’d be giving a lot more,” Mourinho said after a 2-1 loss that left Chelsea (15) one point off the relegation zone after 16 games.Chelsea, which won the Premier League by eight points and with three games to spare last season, have lost nine games so far and are 20 points off the lead.”All last season I did a phenomenal work and I brought them to a level that is not their level, it is more than they really are,” said Mourinho, who appeared at a loss to explain Chelsea’s regression.”I feel my work was betrayed,” he added, as he criticised the defending for Leicester’s goals.Asked if Chelsea can still qualify for the Champions League, Mourinho said: “We can’t finish top four, but we can still finish top six because so many teams are dropping points. But at the moment we’re in a zone where I feel ashamed.”Even before the Leicester loss, Mourinho acknowledged he is in the toughest spell of his managerial career.”The only thing I can say is that I want to be the manager,” Mourinho said. “I have no doubts and I think you know me well enough to know that I am not afraid of a big challenge and in this moment it is a really big challenge.”I want to stay and I hope (Chelsea owner) Mr. (Roman) Abramovich and the board want me to stay.”Champions League drawMeanwhile, the Champions League draw produced some familiar pairings yesterday with defending champion Barcelona facing Arsenal and Paris Saint-Germain again taking on Chelsea.Barcelona eliminated Arsenal in the 2010 quarterfinals and in the round of 16 in 2011 and beat the English club in the 2006 final.Arsenal will host the five-time champions on February 23 after advancing to the knockout round for the 16th straight season. The Gunners will be hoping to end a five-year losing streak at the round-of-16 stage.French champions PSG and Chelsea will be meeting for the third consecutive season in the knockout phase. Chelsea won in the quarter-finals in 2014, but PSG advanced from the round of 16 last season.Also, five-time champions Bayern Munich will play away first against 2015 runner-ups Juventus, while record 10-time champions Real Madrid will face Roma.Still, there was one fresh look in the eight pairings as the two newcomers to the knockout rounds were drawn together: Gent will host Wolfsburg first in Belgium.Also, it was: PSV Eindhoven vs Atletico Madrid; Dynamo Kiev vs Manchester City; and Benfica vs Zenit St. Petersburg. City’s first leg in Kiev will be played in an empty stadium because Dynamo has been sanctioned by UEFA for racist incidents involving fans.The first legs will be played on Feb. 16-17 and 23-24, with the second legs scheduled for March 8-9 and 15-16.last_img read more

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Time is running out for Donegal schools to submit ‘Big School Cook Off’ entry

first_imgDonegal post-primary schools have been urged to get their entries in before the deadline later this month. The annual Mount Charles Big School Cook-Off Competition, in association with SuperValu, is for all post-primary school pupils across Northern Ireland and Donegal aged between 11 and 14.Not only is this year’s title up for grabs, including a plaque for the winning team, but the winners will also receive private box VIP tickets to an SSE Arena Ice Hockey match and their school will get a £100 voucher for catering equipment of their choice. Teams of two are challenged to whip up an original main course recipe idea that can be bought on a budget of a tenner, or Euro equivalent.This year teams are asked to submit their recipe ideas by uploading a word document or a video to www.bigschoolcookoff.co.uk detailing their recipe choice, locality and seasonality of their ingredients and how they researched and tested their dish.A panel of judges will review all the entries after the closing date on Friday 22nd of November and shortlist seven teams – one from each county in NI and Donegal – to go head to head in the grand finale at Belfast Met’s Titanic Quarter Campus, next March.Competitors will have one hour to reproduce the recipe they entered and the judges who will be joined by Great British Bake Off 2018 contestant, Imelda McCarron, will choose the winning dish. County finalists will also be invited to perform a cookery demonstration of their dish, at their local SuperValu store in January, ahead of the final.Last year saw Donegal duo Hayden Nelis and Oisin McHugh from Scoil Mhuire, Milford, take home the top prize. They created a dish of Noisettes of Lamb, Minted Pea Puree, Duchess Potatoes, Rosemary Jus Lie and beat off stiff competition from the other six county teams to be crowned the champions.Urging student teams in Donegal, to get their entries in before the closing date on Friday the 22nd November, Caitriona Lennox, Business Development Manager at Mount Charles said: “We’re calling for all post primary schools to get involved in our competition. It’s so beneficial for pupils who enter. They are learning about food provenance, team work, timing, communication and taking part gives them such a sense of independence and achievement.“We’re looking for creativity and diversity in the entries, so take your inspiration from local ingredients, the food you love to eat and enter now!”Full competition terms and conditions can be found at www.bigschoolcookoff.co.uk Time is running out for Donegal schools to submit ‘Big School Cook Off’ entry was last modified: November 5th, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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Takeaways: Matt Chapman on getting best of Hader with go-ahead homer

first_imgOAKLAND — Josh Hader is one of the toughest relievers in baseball.But Matt Chapman did his homework and had a plan against the Brewers’ closer. In Tuesday’s game against Milwaukee, he saw seven Hader pitches before striking out swinging at a fastball. Chapman had all the intel he needed. In the eighth inning Thursday, with the A’s down a run and Robbie Grossman aboard, Chapman lifted a well-placed corner fastball over the center-field fence to help the A’s (62-48) to its 5-3, series-clinching …last_img

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Phoenix Did NOT Find Mars Life

first_imgA media snafu has NASA spokespersons rushing to deny that life has been found on Mars, reported Space.com.  For example, Live Science reporter Leonard David said that the White House has been alerted to the potential for new information about life on Mars based on findings from the Phoenix Lander.  The apparent secrecy has teased the press into thinking life has been found, when all an Aviation Week reporter had said based on his own inside sources was that instrument data has found something that “is increasingly compelling as another piece in the puzzle of life.”  The vagueness of the statement could imply good news or bad news.    The Space.com damage-control article hastened to explain that Phoenix is incapable of finding life.  The instruments can detect organic molecules, but not life itself.  The reason for caution at the NASA press briefing last week that announced the discovery of water ice (see U of Arizona press release) at the northern latitudes of Mars, where Phoenix set up base camp, is that the scientists want their findings to go through peer review and get published before getting scooped by the popular press.  It is normal procedure for findings to be embargoed by the press till formal publication.    Another Space.com article by Andrea Thompson explains what Phoenix is capable of detecting.  Organic molecules have not been found at equatorial latitudes because of strong oxidizing processes at work there.  One of the main reasons for putting a lander in the polar regions was the hope that organics could survive there.  Organics are not a sufficient condition for biology, explained a Johns Hopkins scientist.  “Just because there are organic compounds, doesn’t mean that that’s life,”    Leonard David said this reminded him of the 1996 to-do about a Martian meteorite that some scientists said appeared to show evidence for fossilized microbes.Update 08/05/2008 morning: Space.com and PhysOrg are now reporting that the chemical found may be perchlorate, a highly reactive oxidant that would be bad news for life.  The tests are inconclusive at this point.Update 08/05/2008 afternoon: In order to stem “speculation that has become rampant on the web,” reported Space.com, the Phoenix team is admitting perchlorate has been found, but spinning the story to say that it “may not be harmful to any potential life there and could in fact be a boon to it.”  The highly-oxidizing substance could be an energy source, for instance, and some life survives in Earth’s Atacama Desert in spite of the presence of perchlorates.  There is a slim possibility the perchlorate came from a solid rocket booster, but the team feels their readings from the Phoenix instruments show it was present in the soil samples.  PhysOrg printed a brief report, and later, BBC News and Science Daily denied a NASA cover-up.  They reiterated the latest spin that the discovery of perchlorate “was fascinating but made ‘life on Mars’ neither more nor less likely.”So they did not claim to find any organics, and they found a highly-oxidizing substance that would normally be toxic to life.  You’d think after so many years of bad news from Mars (02/18/2008, 01/09/2007, 01/28/2005) that Martian fever would be dead, but look at faith of the believers.  Phoenix could find one molecule of tailpipe soot, call it organic, and the press would go bananas.  Even if the soot turned out to be residue from the lander’s own thrusters, by then the media will have soaked it for all its evolutionary worth.  The Martian Meteorite story launched NASA’s revitalized Mars program and started the new “science” of astrobiology (04/17/2006).  Only later did we realize it was scientifically unfounded.  We’re all for exploring Mars but NASA had better find better reasons for going than titillating the public with false hopes and dubious inferences from questionable data.    Organics are to life what letters are to a book.  It’s not the presence of the letters, but the way they are put together, that signifies life.  When looking for life, don’t just follow the water.  Follow the instructions (12/30/2002).(Visited 9 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

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