Regulatory pressure forces Dutch scheme to consider liquidation

first_imgHe also noted that the best solution for pensioners could be placing their pension rights with an insurer, which must guarantee their benefits.Another potential option could be the proposed APF, although Bakker said this would depend on the ultimate shape of the new pensions vehicle.The pension fund’s policy funding – the new criterion for indexation and rights cuts – was 115.1% as of the end of February.The scheme said it expected this figure, based on the 12-month average of current funding, to decrease.In an additional clarification, Bakker cited “ever-expanding” supervisory pressure from regulator De Nederlandsche Bank.“Moreover,” he said, “the new financial assessment framework is likely to raise costs for small pension funds.”Last year, the regulator fined the Consumentenbond scheme €17,500 for twice failing to meet deadlines for the submission of documents. Dutch consumer industry group Consumentenbond has said it is exploring its options on the future of its €70m pension fund, including the possible liquidation of the scheme. Chairman Rob Bakker said “sharply increased” financial and administrative burdens were proving a growing obstacle for maintaining the scheme’s independence, but he also warned that the board’s continuity was “at stake”.He said four of the six current trustees were over 60, and that he himself had decided to step down at the end of the year, after 10 years at the helm.According to Bakker, one of the options for the scheme will be to join a non-mandatory industry-wide pension fund, such as PGB, which does not require an incoming scheme to change its pension arrangements.last_img read more

Dodgers prospect Josh Sborz in a no-win situation for Quakes

first_imgDespite being healthy, there’s a high probability that Quakes right-handed starter Josh Sborz won’t win another game this season.But that won’t change one of the hottest prospects in an already-loaded Dodgers farm system.“I’m proud to go out and give my team a chance to win,” he said.And right now, that’s about all he can hope for, rather than be credited with actual wins. Newsroom GuidelinesNews TipsContact UsReport an Error “They told me about it, but after that I said don’t mention it to me again,” Sborz said. “I want to approach each start like it’s a normal start.”Unless he makes a relief appearance or is allowed to pitch at least five innings as a starter, Sborz won’t be able to win another game this season.He said he does feel better based on what Charlie Hough, a Dodgers senior advisor for player development told him: “You haven’t won a game until you’ve won a game in the big leagues.”He does hope, however, that limiting his innings now will allow him to continue to pitch in the playoffs.Sborz, 22, who entered the season as the Dodgers’ No. 17 prospect according to Baseball America, will most likely move up from that ranking for next season. In 15 starts this season for the Quakes, the California League all-star is 7-3 with a 2.66 ERA, striking out 81 and walking 22 in 84 2/3 innings.What he’s done has impressed Saylor.“Obviously, his stuff is tremendous,” Saylor said. “His slider is borderline plus-plus. And his curveball is getting better.“He’s a great teammate who does what it takes to help the team.”Although he might be end up being a reliever, serving as a starter in the minors has forced him to develop other pitches.“As a reliever, you can get by with two pitches,” he said. “My fastball and slider are my best two pitches, but I’ve been working on my curveball and changeup. Last year, I was primarily fastball/slider.“I think two big things have really progressed this year: My fastball, keeping it down, and working on my curveball.”Sborz, who hails from the Washington, D.C. area, has a brother, Jay Sborz, who made one big league relief appearance in 2010 for the Detroit Tigers and has since retired.If Josh Sborz continues his development, he could easily surpass his brother’s career and show Charlie Hough his first real win.center_img That’s because the 6-foot-3, 225-pound Sborz will be limited to just four innings per start the rest of the season. That’s been the case already for his last two starts despite allowing just five hits and three earned runs in the eight innings. Sborz’s restrictions come from the fact that prior to being a second-round supplemental pick by the Dodgers in 2015, he spent that season almost exclusively as a reliever for NCAA champion Virginia. In 2014, however, he was a starter at Virginia.“We want to limit him, since he was mostly a reliever last year,” Quakes manager Drew Saylor said.Sborz was also primarily a reliever last year as a pro, although he made three limited-inning starts with rookie-level Ogden and low Single-A Great Lakes before joining the Quakes. With the Quakes, he was exclusively a reliever and was key in the stretch run for the 2016 California League champions. Between the regular season and the playoffs for the Quakes, Sborz was 1-0 with four saves in four chances and a 2.20 ERA in 13 appearances.Despite the fact that as a reliever for the Quakes last year he rarely went more than an inning, Sborz isn’t thrilled about his innings limit this year.last_img read more