Mandatory pensions preferable to auto-enrolment, say Irish actuaries

first_imgIreland’s actuaries are recommending that the government make private pensions mandatory for all workers, rather than introduce a UK-style system of automatic enrolment. The Society of Actuaries in Ireland said a compulsory pension system should be developed over the next five years as a way of increasing pensions coverage and making sure individuals have enough in retirement. Bringing in auto-enrolment is potentially wasteful, if the government later goes down the mandatory route anyway, it said. The recommendation is among the conclusions from a working party on pensions policy set up by the society in March 2013.  The aim was to join the debate on whether a mandatory system was better than other methods, such as auto-enrolment, to complement the state pension. The society said it knew auto-enrolment might seem more palatable than a mandatory system in the current economic environment in Ireland.  “However, in our view, a mandatory system is superior to an auto-enrolment regime for a number of reasons,” it said. A mandatory regime was a more effective way of increasing private pensions coverage than auto-enrolment, it said, citing international experience. Also, a mandatory system should be easier to run since there will be no opt-out and opt-in issues, it said. “Establishing the more complex system of auto-enrolment and subsequently introducing the mandatory regime could potentially be a waste of resources,” it added. Because it would take at least five years to bring a mandatory scheme into operation, the society said there was a need to move ahead quickly with decision-making and planning. Last April, the Organisation for Economic Co-operation and Development (OECD) said in a review of Ireland’s pension system that making it compulsory for private workers to establish a pension was the cheapest and most effective approach to increasing coverage of private pensions. It said Ireland and New Zealand were the only OECD countries that did not have a mandatory earnings-related pillar to complement the state pension at basic level.last_img read more

Tipperary feature strongly in Under 21 Football awards

first_imgThe Tipp players included in the EirGrid 21 are goalkeeper Evan Comerford, defenders Ross Mulcahy and Bill Maher, midfielders Steven O’Brien and Colin O’Riordan and forward Kevin O’Halloran. While All-Ireland winners Tyrone lead with seven, six Tipperary footballers have been selected as recipients of the inaugural ‘EirGrid 21 U21 Awards’.The awards honour the twenty-one standout players from the 2015 U21 All-Ireland Championship as selected by members of the Gaelic Writers Association.In addition to the 21 U21 awards, EirGrid are asking fans of the championship to select their Player of the Year. Tipp captain Colin O’Riordan and the Tyrone duo of Lee Brennan and Cathal McShane are the nominees.last_img read more

Possibility of snow to fall in areas surrounding Ladysmith bringing cold weather

first_imgA cold front is expected to move up the coast on Thursday (March 15) and Friday, bringing much cooler weather conditions for us in Ladysmith.There is a possibility of snow in certain areas on Friday night and even Saturday.Speaking to South African Weather Services forecaster Wiseman Dlamini from King Shaka International Airport, he says there is a 60% chance of rain over KwaZulu-Natal (KZN) for Thursday and Friday.Snow is predicted to fall on the extreme high peaks in areas like Thabana Ntlenyana, Champagne Castle and Giants Castle, which is near to Ladysmith.Weather conditions in Ladysmith are expected to be much cooler on Friday, with a high of just 18 degrees. Thunderstorms are also in the offing.Also read: Snow predicted to start falling from today, bringing cold weather to LadysmithAlso read previous snow stories: Avoid travelling in areas where snow may fall Also read previous snow stories: Snow on the mountains brings in the coldGoing into Saturday, there is a chance of rain for Ladysmith. Sunday sees a 30% chance of rain, with conditions warming up and a high of around 25 degrees expected.The weather system could change over the next few days, as it is early in the snow season.With this information in mind, brace yourself for a cold and rainy end to the week.Click to receive news links via WhatsApp. Or  for the latest news, visit our webpage or follow us on Facebook and Twitter. Join us there! WebsiteWebsiteWebsite WebsiteWebsiteWebsite WebsiteWebsiteWebsite last_img read more

Sheikh Abdulaziz Bin Humaid inspects ATM 2015

first_imgSheikh Abdulaziz Bin Humaid Al Nuaimi, Chairman of Ajman Tourism Development Department, inspected ATDD stand at the Arabian Travel Market (ATM), held in Dubai on May 4 to 7, 2015.In statements, he affirmed the importance of taking part in the annual ATM exhibition, being a pivotal tourism event, providing a platform for participants trying to network and make use of potential business opportunities.Sheikh Abdulaziz Bin Humaid also highlighted the importance of focusing on available services, lauding the keenness of hospitality sector representatives to be part of ATDD delegations to all international exhibitions.Praising the promotional campaign launched at the ATDD stand, Sheikh Abdulaziz said, “Demand was increasing on Ajman hotels, and the Government of Ajman was investing in infrastructure and facilities with the aim of luring more visitors and being ready for different kinds of tourist activities and achieving the vision of a Charming Emirate and Unique Tourism Experience”.The ATDD Chairman also inspected participating UAE and GCC stands, as well as a number of European, Asian and African stands.For his part, ATDD General Manager said Ajman delegation to ATM 2014 focused on increasing awareness about potentials and offers in the tourism market, with paying a special attention to the needs and requirements of travellers and clarifying the added-value services.Participation of ATDD in all international events serve the strategic goal of enhancing the tourist image and identity of the emirate of Ajman, Faisal Al Nuaimi said, noting that ATDD aims to increase the number of visitors to the emirate in 2015 by 25%.The number of visitors to Ajman in 2014 was 850,000 visitors and ATDD aims to achieve the target of five million visitors to Ajman in 2021.last_img read more