It’s an inequitable life as bid deadline is extended

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UK university scheme consultation flags possible contribution hike

first_imgThe assumptions it was proposing would require an increase in the proportion of pay that employers and members contribute for the current package of benefits offered, it added.Currently, active members and employers pay a combined contribution rate of 26% of pay, with the former paying 8% and the latter 18%. Under the proposals being consulted on, the combined required contribution rate would have to increase to 32%-33% of pay, a spokesperson for the scheme confirmed.In a statement, the USS trustee said: “The increase proposed is a significant challenge for our stakeholders, [Universities UK] and University and College Union to address.”The £5bn deficit identified by the USS trustee is considerably lower than the £12.6bn deficit figure the scheme reported in its annual accounts, based on what it calls a monitoring approach. Its annual report and accounts had also revealed a £17.5bn deficit, based on accounting rules. In a follow-up to the publication of the annual report, USS chief execuitive Bill Galvin had said this was not the figure driving benefit and contribution decisions for the scheme.  According to the trustee’s consultation statement, USS was expected to grow by £30bn in assets over the over next 20 years. During this time the scheme would continue to reduce its equity allocation proportionate to the growth in the scheme “to ensure that the risks inherent in funding the scheme remain within affordable limits of all the employers”.USS’ investments are currently broadly half in equities, one third in bonds and the balance in infrastructure, property and other assets, the trustee noted. Expectations for future returns were significantly lower than at the time of the valuation, it said.Based on the assets USS plans to hold over the next 20 years and beyond, the trustee is assuming an average annual rate of return to value future pension benefit payments of inflation (Consumer Prices Index) plus 0.9%.This was the main reason why the required contribution rate had increased, it said.The consultation, which is with Universities UK (UUK), the representative body for USS employers, runs until 29 September. The trustee has proposed to keep employer contributions towards the deficit at the current 2.1% of pay.Decisions on any changes to future benefits or contributions will follow later in the valuation process. Any changes would have to be subject to a full consultation with all affected employees by their employers.Once decisions on future benefits have been made the length of the recovery period will be consulted upon.The consultation comes as the parliamentary Work and Pensions Committee, a cross-party group of politicians from the UK’s lower house, has written to the USS trustee board to inquire about its plans to plug the deficit.The committee has also written to The Pensions Regulator and UUK. Its involvement comes as some commentators have raised concerns that tuition fees may need to be raised to fund the deficit. A spokeperson for UUK said: “It is inconceivable that one of the options would be for the tuition fee cap for undergraduate students in England to be increased to address the USS deficit.”“Over the coming months, USS will work with employers (through Universities UK) and employees (through the University and College Union) to understand the options that are available for dealing with both the deficit and the wider increase in pension costs outlined at the 2017 valuation,” she said. Funding future pensions promised by the UK’s universities pension scheme could require an increase of contributions of six to seven percentage points, according to the trustee of the £60bn (€67.1bn) Universities Superannuation Scheme (USS).The information was revealed as the trustee launched a consultation on its proposed assumptions for the latest triennial valuation.These put the USS deficit at just over £5bn, which the trustee said was similar to the figure from March 2014.However, the cost of funding future pension benefits had increased by 35%, it said.last_img read more

Whittens nets more Ichthys LNG work

first_imgImage courtesy of InpexPerth-based infrastructure, construction and services company, Whittens, grabbed a new contract on Ichthys LNG project from Kawasaki Heavy Industries. Under the new contract, the company will complete the closing of the Temporary Construction Opening (TCO), and insulation of the ceiling and walls across four cryogenic tanks – two LNG, one propane and one butane.Work has already started in April and is expected to take around four months, Whittens said.Inpex-led Ichthys LNG project is preparing to transition its onshore processing plant from construction into the operation phase, the company said in a recent statement.The project, which is expected to start production by March next year, will have the capacity to produce 8.9 million tons of LNG and 1.6 million tons of LPG each year, along with more than 100,000 barrels of condensate per day at peak.It is a joint venture between Inpex, major partner Total, Taiwan’s CPC Corporation and the Australian subsidiaries of Tokyo Gas, Osaka Gas, Kansai Electric, Chubu Electric Power and Toho Gas. LNG World News Stafflast_img read more

Bacolod neighborhoods on COVID-19 lockdown

first_imgHe reminded the public anew to observe the health protocols imposed in order to prevent the spread of the COVID-19./PN The test results of these individuals were released on July 23. According to Villarosa, about 80 households in the neighborhood were affected by the lockdown.Barangay Banago village head Ricky Mijares, for his part, said he placed the whole of Purok Mahimulaton on lockdown after the City Health Office (CHO) informed him 13 persons in the neighborhood tested positive for COVID-19. Five houses in Purok Riverside were also under the same order, he added. In Purok Masanag I, Barangay 26, there were 30 houses placed on lockdown and the same was also done to a house in Purok Paghidaet, Barangay 29.center_img BACOLOD City – Authorities here ordered the lockdown of neighborhoods in barangays Banago and Tangub after their residents turned out positive for SARS-CoV-2, the virus that causes coronavirus disease 2019 (COVID-19).    Tangub village chief Noli Villarosa ordered the closing of Purok Seaside after the sibling of the General Services Office worker who tested positive for COVID-19 also contracted the virus. CHO Environment and Sanitation Division chief Grace Tan said the 13 individuals in Purok Mahimulaton were among the 19 persons included in the contact tracing after a carpenter living in the same neighborhood tested positive for the virus and died on July 15.  Vice Mayor El Cid Familiaran, head of the City Inter-agency Task Force said there is already a local transmission of the virus in this city.last_img read more

GSA Crushes Mariners

first_img Latest posts by admin (see all) This is placeholder textThis is placeholder text Latest Posts Bio DEER ISLE — The Eagles ripped two pitchers for 12 hits in five innings in a 14-3 win over the Mariners on Monday.Nick Saunders drove in four runs with three doubles and a single, Rashad Frazier had a two-run homer and an RBI single and Tom Crowe and Sam Eley each had a pair of singles for GSA.Joe Condon had a two-run single for the Mariners, who managed just three hits. For more sports stories, pick up a copy of The Ellsworth American. Hancock County Court News Nov. 3 thorugh Dec. 11 – January 22, 2015 State budget vs. job creation – January 22, 2015 House fire in Winter Harbor – October 27, 2014 adminlast_img

Arrest Warrant Issued Against Indian Cricketer Mohammed Shami

first_imgKolkata: A court here on Monday issued an arrest warrant against India cricketer Mohammed Shami, which gave him 15 days to surrender and apply for bail for alleged domestic violence accusations leveled against him by his estranged wife Hasin Jahan. The judge of the Alipore court issued the warrant around six months after the police filed a charge sheet in the case against the celebrated cricketer under Section 498A (domestic violence) and 354A (sexual harassment). Mohammed Shami is presently in the Caribbean islands as part of the Indian Test team which is playing the second Test of the two-match series against the West Indies. IANSAlso Read: Sports Fraternity Hails World Champion, P.V. SindhuAlso Watch:Fire breaks out in Doomdooma Townlast_img

Joshua stops Kltischko in 11th-round to win world titles

first_imgBy Ian ChadbandLONDON,(Reuters)-Anthony Joshua delivered one of the great nights in British boxing annals by stopping Ukrainian,Wladimir Klitschko in the 11th round to be crowned IBF, WBA and IBOWladimir Klitschko receives a count by the referee after being knocked down by Anthony Joshua(Action Images via Reuters / Peter Cziborra Livepic)world heavyweight champion in front of 90,000 fans at Wembley Stadium on Saturday.Britain’s unbeaten IBF title holder earned a sensational victory by knocking down the 41-year-old former champion twice in the 11th and penultimate round before the referee stepped in to save Klitschko from any more punishment.What was hailed as the biggest fight night ever staged in a British ring, watched by the largest crowd for a boxing show in Britain for 78 years, lived up to its billing.It was a thrilling contest which saw both combatants clamber off the canvas seemingly on the verge of defeat,and one which looks destined to be recalled as one of the great heavyweight title fights.Joshua survived a knockdown for the first time in his professional career in the sixth round and looked close to surrendering his unbeaten record until his late bombardment forced the stoppage.In a sensational fifth round, Joshua knocked down Klitschko only to end up hanging on desperately at the end of the round as the Ukrainian launched a remarkable comeback.The veteran had even looked the more likely winner as he defied a 14-year age gap and was outboxing Joshua in the latter stages until the Briton produced a blistering finish to take his unbeaten record to 19 straight stoppage wins.Both men had to dig deep and both looked close to exhaustion before the 27-year-old Joshua’s youth, fitness and sheer power took over in a penultimate round that sent the huge crowd into ecstasy as two barrages sent Klitschko down.“What can I say? 19-0, three-and-a-half years in the game. As I said, I’m not perfect but I’m trying,” Joshua told the cheering crowd from the ring.“As boxing states, you leave your ego at the door and you respect your opponent. So a massive shout out to Wladimir Klitschko.”“The best man won tonight and it’s a massive event for boxing,” responded Klitschko after his second defeat in succession at the hands of a British heavyweight,following the loss of his titles to Tyson Fury 17 months ago after an 11-year reign.“Two gentleman fought each other. Anthony was better today. It’s really sad I didn’t make it.”The fight attracted a gate that had not been matched for a British show since Len Harvey fought Jock McAvoy for the British light-heavyweight title at another London venue, White City, in 1939.The mutual praise between Joshua and Klitschko echoed the civilized and respectful way the two former Olympic champions had behaved in the build-up to the contest,but there was nothing civil about the brutal punishment they dished out to each other.After four rounds of feeling each other out, with Klitschko’s movement and Joshua’s power quite apparent, the crowd were not prepared for an astonishing fifth round.First, Joshua launched a blistering left hook and followed up with a flurry of punches that saw the Ukrainian drop to his knees and, when he rose groggily, take a standing count.Klitschko suddenly looked old and the end seemed nigh as Joshua roared in to finish the job,but that was when he found his champion’s spirit in his desperation, landing a big left of his own to leave Joshua in real peril.The Ukrainian continued in the sixth, setting up his opponent with the jab before a huge right cross sent Joshua down.He scrambled off his knees but it did not look as if he would see the eighth round, uncharted territory for the Briton who had won all his previous fights within seven.Yet after Klitschko had, remarkably, looked almost the younger of the two fighters in the stretch, Joshua demonstrated real heart to go with his power as he unleashed a right uppercut that signaled the final assault on the Ukrainian’s scrambled senses.last_img read more

‘Proud’ Rahmat scores Afghanistan’s first Test ton

first_imgBATSMAN Rahmat Shah, on Thursday, became the first Afghanistan cricketer to score a Test century, helping the newcomers start strongly against Bangladesh on the opening day of the one-off Test match.Rahmat made 102 and put on a crucial 120-run fourth-wicket stand with Asghar Afghan, not out on 88, to counter the Bangladesh spin attack at the Zahur Ahmed Chowdhury Stadium in Chittagong.Afghanistan were 271-5 at stumps with Afghan and Afsar Zazai, on 35, putting together a 74-run partnership in the final session of play.But it was Rahmat and Afghan who ensured that Afghanistan fought their way back in to the contest after being in trouble at 77 for three at lunch.“It is a proud moment for me. I am the first person who has the first half-century (in a Test) for the country and now the century,” Rahmat told reporters after the opening day’s play.“I had the dream to become the first centurion for Afghanistan. So naturally I was very upset when I got out scoring 98 against Ireland. Today I got the chance and scored the century.”Taijul Islam and Nayeem Hasan took two wickets each to hurt Afghanistan after the tourists elected to bat first in just their third five-day game.The war-torn nation had a bruising introduction to Test cricket after India outplayed them inside two days in 2018.Afghanistan registered their first Test victory against Ireland early this year with Shah scoring two fifties in the game including a 98 in the first innings.Rahmat extended his prolific run of form as he reached his hundred with a boundary off Hasan, raising his bat to a standing ovation from the crowd and the dressing room.His celebration though was short-lived as Hasan got the batsman, who hit 10 fours and two sixes in his 187-ball knock, out on the next ball.Hasan struck again with his off-spin three balls later in the same over, rattling the stumps of Mohammad Nabi for nought as Afghanistan slipped to 197-5.Afghan, who survived a reprieve on 42 by the third umpire after being given leg-before out off Mehidy Hasan, has struck three fours and two sixes so far in his second Test fifty.In the first session Taijul bowled opener Ihsanullah Janat for nine with his left-arm spin and became the fastest Bangladeshi bowler to reach 100 Test wickets.Taijul, who finished the day with 2-73, also became the third Bangladeshi bowler after his captain Shakib Al Hasan and Mohammad Rafique to achieve such a feat in the longer format in his 25th match.Off-spinner Mahmudullah chipped in when he forced Hashmatullah Shahidi to give a catch to Soumya Sarkar at slip for 14 in his first over.Bangladesh fielded an all-spin attack without picking a single pace bowler while Afghanistan handed a Test debut to Ibrahim, Qais Ahmed and Zahir Khan.Afghanistan skipper Rashid became the youngest-ever Test captain at the age of 20 years 350 days, breaking the record held by Zimbabwe’s Tatenda Taibu, who made his debut as Test captain just eight days older than Rashid in 2004. (AFP)AFGHANISTAN 1st InningsIbrahim Zadran c Mahmudullah b Taijul Islam 21Ihsanullah b Taijul Islam 9Rahmat Shah c Soumya Sarkar b Nayeem Hasan 102Hashmatullah Shahidi c Soumya Sarkar b Mahmudullah 14Asghar Afghan not out 88Mohammad Nabi b Nayeem Hasan 0Afsar Zazai † not out 35Extras: 2 (lb 1, nb 1)Total 271/5 (96 Overs, RR: 2.82)Bowling:: Taijul Islam 31-4-73-2, Shakib Al Hasan 17-1-50-0,Mehidy Hasan Miraz 22-4-59-0, Nayeem Hasan 13-0-43-2, Mahmudullah 4-0-9-1, Soumya Sarkar 4-0-26-0, Mominul Haque 4-0-9-0, Mosaddek Hossain 1-0-1-0last_img read more

HiFL Organisers to Announce New Dates for Tournament

first_imgthe kickoff date will remain under constant review and will be announced as soon as it is conclusive.“We will continue to monitor developments and work with relevant stakeholders through this very challenging time.After a thorough and rigorous exercise carried out by the accreditation team, a final list of 29 universities including those from federal, state and private institutions from an initial 54 schools were confirmed to participate in the 2020 season.“We remain grateful to all interested universities and their handlers for their laudable co-operation.“The full list will be shared across our official digital channels immediately. “Please be on the lookout for the groupings and other proceedings, pending the lifting of the bans,” observed the organisers.They however pleaded with affected institutions and players to follow the guidance of all relevant health authorities.“The safety of all of us depends on each of us. We hope you are keeping well and safe. Our thoughts and prayers are with everyone, especially with those who have lost loved ones.“To all decision makers, health professionals and key workers on the frontline, you are heroes. The entire HiFL family stands with you and salutes you all,” concludes the statement from the HiFL team.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Organisers of the Higher Institutions Football League (HiFL), PACE Limited have said that a new date is to be announced for the tournament as soon as the ravaging Coronavirus pandemic is put under control.The league had earlier announced the suspension of the start of the season by one month and that fixtures will not return until the ban on academic/footballing activities elapses.According to the Chief Operating Officer of the HiFL, Olamide Adeyemo,last_img read more

USC launches community garden on Shrine Place

first_imgStudents and community members can now dig up some dirt and contribute to the sustainability effort with a new community garden in the North University Park.The 350-square-foot garden opened Thursday and is located at 3015 Shrine Place. It hopes to be a joint effort between the school and local residents and aims to help feed the hungry.Breaking ground · Brian Rodysill, a sophomore, works on the border of the new community garden, located at 3015 Shrine Place. – Sunil Murali | Daily Trojan Student and staff volunteers, working closely with Sustainability Director Matthew Oden and the non-profit organization Urban Farming, manually dumped and raked soil Thursday, marking the first day of work on the garden.Oden said the idea of a community garden has been in the works for a long time, but the impetus came when Urban Farming contacted the school, interested in starting an organic garden in unused space.“It just happened to align when we were starting to think about a garden project,” Oden said.Oden worked with John Baldo, the Undergraduate Student Government’s director of university outreach, to involve student groups, including Environment First and the California Public Interest Research Group. The students researched possibilities and ultimately came to an agreement with Urban Farming to start the project in the USC area.Oden worked with the USC Real Estate & Asset Management Department to see which USC-owned properties around campus would be suitable for the project. They identified the property on Shrine Place as an area with a large enough yard for the garden.3015 Shrine Place is owned by USC and is leased by the Department of Public Safety. The building is currently used as headquarters for the Contemporary Services Corporation guards, the security guards in yellow jackets that man various locations around campus.USC Facilities Management Services gave Oden and his crew the tools needed to start the garden, such as shovels, wheelbarrows and cinderblocks to border the walls of the garden.So far, Urban Farming has supplied all the necessary seeds and soil and has also contributed tools and volunteers.Meg Glasser, West Coast regional manager for Urban Farming, will visit the garden every week in the upcoming months to oversee the project and teach USC and community volunteers how to keep the garden going.Much of the student interest right now is from the few student organizations that have already been volunteering, Baldo said. But he hopes more volunteers will join over time.“We definitely think a lot of people in the community are interested once we have it set up with signage,” Baldo said. “We’re just getting started now, but we have high hopes.”Baldo said he hopes to work with the university to eventually integrate the garden into environmentally themed courses on campus.Right now, the garden will focus on growing summer crops, such as tomatoes, basil and squashes. The ripe crops will be offered to the volunteers who helped grow them.Eventually, Oden said, he wants to reach out to Tom Sayles, USC’s vice president of government and community relations, to distribute the food to the community.“We don’t want to just give it away to people who have access to enough food and [are] already paying their bills,” Oden said. “So we’ll work to identify families that truly have the need for the food.”Shana Rappaport, Green Office Program liaison for the Sustainability Office, started a similar garden outside her house on 30th Street. She said it has garnered a lot of attention from students and community members and hopes the same will happen with the garden on Shrine Place.“When people actually see food growing out of the ground and get to put their hands in the plant and nurture that food, it’s a really beautiful thing and helps people feel reconnected to the process,” she said.The next phase of the project, the planting of the seedlings, will take place on Thursday, March 4.last_img read more