Dutch schemes must increase transparency on appointments, outsourcing

first_imgThe researchers noted that schemes have already applied a large number of the norms, including providing insight into costs, policy choices, risk management and board performance.However, pension funds hardly gave information on agreements with providers, remuneration policy or arrangements for whisteblowers, they said. The same went for the regular evaluation of actuary and accountant.Ecorys also found that the most annual reports were also not clear about the procedure for the appointment of trustees and members of the supervisory board, and lacked clarity about the role of the scheme’s board and other organs within the pension fund for appointments.In the opinion of the monitoring committee, most pension funds were inadequate in indicating the current diversity of representation, or how they intended to improve any imbalance.The researchers further noted that many pension funds failed to provide a clear definition of some standards, and also recommended including reports of, for example, their accountability organ and their compliance officer in their annual report.The code is meant to improve governance, and has legal been underpinned by legislation since 1 July 2014.The code has succeeded the principles for proper pension fund governance, which were formulated by the StAr in 2005.For more on pensions in the Netherlands, see the upcoming March issue of IPE Pension funds must provide more information about outsourcing and procedures for appointments in their annual report, the monitoring committee for the code for pension funds has indicated.In its first evaluation of the application of the code, which came into force in 2014 after a joint effort by the Pension Federation and the Labour Foundation (StAr), the committee also suggested that schemes should give more clarity on subjects such as the suitability of board members and diversity of representation.The committee has drawn its conclusions on the findings of research bureau Ecorys, which had checked 222 annual reports over 2013 for 34 of the 83 standards of the protocol.The committee’s zero measurement focused on whether and how pension funds are dealing with the themes, it said.last_img read more

Japan come from behind twice to draw with Senegal

first_imgJapan and Senegal remain well placed to reach the knockout stage of the World Cup – and a last-16 date with England or Belgium – after an entertaining draw in Ekaterinburg.Sadio Mane put Senegal ahead from close range after an awful mistake by Eiji Kawashima, the ball flying past the Japan keeper after his attempted punched clearance hit the Liverpool forward.Japan were level before half-time through Takashi Inui’s lovely curling finish, before Yuya Osako hit the crossbar.Nineteen-year-old defender Moussa Wague thought he had sealed Senegal’s second straight Group H win with a fine finish from an angle but substitute Keisuke Honda salvaged a point for Japan moments after coming on.Japan and Senegal have four points after two games, while Group H rivals Poland and Colombia are both chasing their first points of the tournament when they meet in Kazan.Despite another point, Senegal will be disappointed they could not follow up their 2-1 win over Poland last week by becoming the first African side to win two group games since Ghana in 2006. But 16 years on from their debut World Cup, the Teranga Lions continue to win new fans in Russia.While Egypt, Morocco and Tunisia are already making plans to return home after failing to secure a point, Senegal can still ensure Africa has at least one representative in the last 16.However, Aliou Cisse will be frustrated his players failed to build on Mane’s opener after Kawashima’s howler.Senegal were well in control but failed to build on their strong start and Inui’s smart finish, after Yuto Nagatomo created the chance, saw Japan draw level with their first shot on target.Even after Wague restored Senegal’s advantage with a sweeping finish, they were unable to see the game out – keeper Khadim N’Diaye’s failed clearance leading to Honda’s equaliser. In 2002, the likes of Henri Camara and El Hadji Diouf helped Senegal reach the quarter-finals under Bruno Metsu. If Senegal’s class of 2018 hope to emulate that achievement they will have to cut out the mistakes.last_img read more