DNB said it would also look into the decision-making process and whether the pension funds still had a clear view on downside risk after any adjustments.The supervisor indicated that three pension funds had decided not to change their risk profile after consultations with DNB. Five schemes would be allowed to raise their investment risk after their funding had improved to more than 105%, it added.Pension funds that increase their investment risk must raise their financial buffers at the same time. DNB said the required asset level had increased by 3% on average.The one-off option to raise the risk profile is part of the new financial assessment framework (nFTK), which was introduced in 2015.During the past two years, 45 pension funds in total – including the schemes of coffee producer Douwe Egberts, BpfBouw, and UWV – have used this option.Pension funds with a coverage of less than 105% are not allowed to increase their risk level, while schemes with a funding of more than 125% do not face limits in principle. More than 50 underfunded Dutch pension funds have indicated that they want to raise their risk profile this year in a bid to improve returns, according to supervisor De Nederlandsche Bank (DNB).It said 159 schemes were eligible for a one-off increase of their investment risk. These schemes had a coverage ratio of between the required minimum of 105% and the prescribed level for financial reserves of approximately 125%.DNB made clear that the 53 pension funds that took up the opportunity had predominantly opted for a reduction of their interest rate hedge, sometimes combined with an increase in equity allocations.The watchdog said it assessed the schemes’ requests against criteria such as a “balanced approach towards their participants” as well as the impact of the adjustment on different generations.
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As the zero hour approaches swiftly for the 2016 Summer Olympics which begins in Rio de Janeiro, Brazil from August 5 through 21 and the Paralympic Games scheduled for between September 7 and 18, the Nigeria Olympic Committee (NOC) Medical and Scientific Commission has issued out guidelines to athletes and officials on how to prevent the spread of the Zika virus pre and post Rio 2016.Chairman of NOC Medical and Scientific Commission, Dr Akin Amao, said that following the guidelines issued by World Health Organization (WHO) to prevent the spread of Zika virus in the context of the Rio 2016 Summer Olympic and Paralympic Games, it has become important for every Nigerian going to Brazil to embrace the guidelines to” help you stay safe and healthy”. He gave the following advice as preventive measures to curb the spread of Zika Virus:• Pregnant women are advised not to travel to Brazil. •At the games, travellers should prevent mosquito bites by using insect repellent and protective clothing.• Practice safer sex, including the consistent and correct use of condoms, or abstain from sex during stay in Brazil.•After the Games, women who discover they are pregnant during their travel or shortly after returning from Brazil should contact their healthcare providers for counselling about Zika virus risks and pregnancy management.•After the Games, all travellers should practice safer sex, including the correct and consistent use of condoms, or abstain from sex for at least eight weeks after their return.• Men who experience symptoms of Zika virus disease during or after their return, should adopt safer sex practices or abstain from sex for at least six months.• Pregnant women whose sexual partners travelled to Brazil should practice safer sex practices or abstain from sex for the duration of their pregnancy.Couples or women planning a pregnancy should wait at least 8 weeks after return from Brazil before trying to conceive; and 6 months if the male partner was symptomatic.• All travellers should use personal protective measures such as insect repellent for at least three weeks after returning from the Games to avoid being bitten and potentially spreading the infection to other people through mosquito bites.• Travellers should not donate blood for at least four weeks after departure from Brazil to reduce the potential risk of onwards transmission.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram