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This would be left to the consultant community, which thoroughly rejected the idea in its consultation responses and said it would affect the use of ABCs in levy calculations.However, the PPF spokesman said the lifeboat fund was happy to accept ABCs and the contribution they make to scheme funding.ABC structures involve sponsors giving schemes legal claim over an asset that provides income streams in return for a reduction in deficit contributions.The use of these structures can potentially reduce the liability burden of a scheme entering the PPF, thus reducing the levy.A PPF spokesman told IPE: “These are complex structures, and the value they have on insolvency may be very different to the value at which they are stated in scheme accounts.“If advisers are confident about the value of these arrangements, they should be able to give assurance to trustees and to the PPF. And if they aren’t, we don’t think the PPF should give credit in levy calculation.“Ultimately, if ABCs prove to be worthless, other levy payers end up paying the price.”Responses from the Association of Consulting Actuaries (ACA), the Society of Pensions Professionals (SPP), Towers Watson and Aon Hewitt all said the extension of liability from trustees to advisers was unnecessary.Towers Watson said a duty of care already existed for trustees, and that extending this to the PPF would not always be possible.Senior consultant Joanne Shepard previously told IPE: “Subject to legal opinion, extending each adviser’s duty of care to the PPF may not always be unachievable – in which case, perfectly good assets would not be recognised for levy purposes.”The ACA said it was not appropriate for advisers to have an uncapped liability to the lifeboat fund, given that there is a cap between advisers and trustees.This was the lifeboat fund’s final consultation before Experian takes over from Dun & Bradstreet for the 2015-16 levy calculation. The UK Pension Protection Fund (PPF) has defended its stance on forcing consultants to legally stand behind valuations of asset-backed contributions (ABC) when used to reduce levy payments.The rebuttal comes after a recent consultation on the PPF levy saw consultants criticise requirements for the extended ‘duty of care’.A spokesman for the lifeboat fund challenged advisers to give clear assurances on the valuation of ABCs if they were “confident about the value”.In the last consultation before the new levy and solvency-risk formulas come into use, the PPF suggested ABCs would require an independent valuation that recognises a legal ‘duty of care’ to the fund.
Tanah Merah unit.“It is no longer just about aged care; it’s about choosing a lifestyle at the beginning of retirement that allows seniors to ‘age in place’ and provide a community for life,” he said. “Increasingly retirees are looking for options that allow them to access different levels of care if and when they are necessary. Aveo head of care Darren Sonter said that, coupled with more than 22 per cent of the population expected to be aged over 65 within the next 40 years, meant the industry was changing to meet lifestyle demand. Tennis centre to become retirement village RELATED: “The nature of the retirement community ensures residents are not pressured to locate elsewhere when their care needs change.’’ >>FOLLOW EMILY BLACK ON FACEBOOK<< Tanah Merah dining room.“Residents at Aveo Freedom Tanah Merah live in a community within their own self-contained home and are encouraged to get involved with daily activities,’’ she said. More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours ago“The resident is empowered to choose how and when their care is delivered ensuring freedom of choice and independence whilst remaining within the communities they love.”Aveo Durack Aged Care registered nurse Christine Tronc said the Durack community was not just a residential area for elderly residents to live, it was their home. The Jetsons House of tomorrow Poolside at the Tanah Merah facility.According to the Australian Institute of Health and Welfare, the average lifespan in Australia has increased from 70 years in 1960 to 82 years in 2016. MORE: Top tips to maximise space Aveo Durack aged care facility suite.“Aveo Durack Aged Care has a huge range of services onsite to ensure residents are cared for without the inconvenience of travelling outside the community, giving family and relatives peace of mind,” Ms Tronc said.Aveo Freedom Tanah Merah industry liaison clinician Kirsten Lanagan said their facility offered residents a lot of choices.
Wella H. Brown, age 99, died Saturday morning, February 1, 2014 at Golden Living Center in Wellington. Â She was a retired hair dresser.Wella H. (Feldmann) Brown was born on May 30, 1914 in Wurzen, Germany to Alfred Feldmann and Martha (Willig) Feldmann.Wella married Herschel Brown on September 30, 1950.Â He preceded her in death.She enjoyed playing bingo, cards, and visiting the casino.She was preceded in death by her parents; her husband, Herschel; and one sister.Survivors include her friends, Bill and Debbie Blasi and family.At Wellaâ€™s request, there will be no funeral service.There will be no visitation as cremation has taken place.Frank Funeral Home has been entrusted with the arrangements.To leave condolences or sign our guest book, please visit our website at www.frankfuneralhome.net