Dutch lawmakers decry breadth of Brussels’ remit on pension statements

first_imgDutch lawmakers have raised concerns over the wide discretion granted to the European Commission in designing a universal pension statement.The Pension Benefit Statement (PBS), proposed as part of the revised IORP Directive, would limited disclosures on accrued benefits to two pages, with the exact shape of the statement to be set out in a “delegated act” – allowing the Commission to set regulation without input from the European Parliament. However, there has been some debate as to how the Dutch government should seek to remove the provision allowing for the use of the delegated act to set the PBS.According to the Dutch Cabinet, negotiation is the best way. However, in the opinion of Pieter Omtzigt, MP for the Christian Democrats (CDA), the Cabinet should vote against the delegated act in Brussels.He has tabled a motion asking the Cabinet to oppose the proposed revision of the IORP Directive.“Once a directive has been established, allowing the EC to independently set rules, it will bypass the national parliament, the European Parliament and the European Council,” he said.“These bodies can only assess this, or try to revoke this, retrospectively. In practice, this never happens.”But Jetta Klijnsma, state secretary for Social Affairs, has advised against Omtzigt’s motion.She said voting in favour or against would make sense only if there were a concrete proposal.However, she emphasised that the Dutch position was “of course aimed at scrapping the delegated act”, or watering it down enough to prevent infringements on national authority.Klijnsma, responding to a motion tabled by Barry Madlener, MP for the freedom party PVV, vowed to negotiate “very hard” to streamline the Commission’s detailed proposals for governance and communications.Madlener has called on the Cabinet to get the directive “off the table”, arguing that the outcome of the European elections, with a number of “anti-Europe” parties making gains, had “dramatically” improved the Dutch position.Another contentious issue – the introduction of capital requirements on investment – is no longer part of the current IORP proposal, and outgoing EU commissioner Michel Barnier has left this problem to his successor.However, it is widely expected that the incoming internal markets commissioner will once again emphasise the introduction of capital requirements for IORPs, despite the draft law pledging not to introduce “additional funding requirements beyond those foreseen” in the Directive.In the opinion of pensions lawyer Eric Bergamin, the capital requirements would match the Commission’s policy for creating a level playing field with other industries, such as the insurance industry.Hans van Meerten, fellow pensions lawyer at Clifford Chance, also expects the proposals will be postponed rather than abolished.The Commission’s proposals for capital requirements are expected by mid-2015 at the earliest.The European Insurance and Occupational Pensions Authority has said it will consult on the matter towards the end of 2014.last_img read more

Cryopeak develops LNG hauling trailer

first_imgCryopeak LNG Solutions Corporation said it has developed the first-ever “Super B-train” liquefied natural gas (LNG) hauling trailer to optimize small-scale transportation in Canada. The trailer is designed to be interoperable across Canada and is in full compliance with Transport Canada rules and regulations for the transportation of LNG, Richmond, British Columbia-based company said in its statement.Development of the trailer is in line with Cryopeak’s business objective of providing natural gas solutions to companies and municipalities which are seeking to transition to an environmentally sustainable and competitive fuel source, it says.The new Super B-train trailer is designed to have 70 percent greater capacity than standard trailers operating in Canada today.“Our customers are seeking lower costs associated with the transportation of LNG in Canada and we are pleased to have four new Super B-train trailers entering service in the Cryopeak fleet at the beginning of 2020. This new transportation solution will improve the competitiveness of LNG as transportation costs represent often the largest cost of LNG supplied to our customers,” Calum McClure, CEO of Cryopeak said.Canadian distributor of LNG Cryopeak currently has a fleet of 16 tankers operating in the country, as well as equipment and technologies for storage, regasification, and fuel dispensing.last_img read more

Honest Management, not Money, Is the Answer: Dr. Tipoteh

first_imgIn the midst of the public debate on the proposal for the government to give L$85 million to each district to improve living conditions of the poor, Dr. Togba-Nah Tipoteh, has declared that honest management rather than more money is what is really needed to improve the living conditions of poor people in the districts. Dr. Tipoteh said that his declaration makes common sense that even the women of West Point, under the banner of Seven Sisters, know this when they say that the money problem is not Liberia’s problem but how to manage the money in the interest of the poor people is the problem.Dr. Tipoteh went on to say that in order to understand well the point he is making, people need to examine the record of the management of government money that has already been distributed to the districts. During the first term of President Sirleaf, she appointed the County Development Fund Committee, headed by Mr. Sam Jackson, to examine the record on the Fund. The Committee, according to Dr. Tipoteh, found out that over 90 per cent of the projects under the Fund were not implemented.Furthermore, Dr. Tipoteh, a veteran politician, said that studies by the Sustainable Development Institute (SDI) of Liberia show that nearly all of the projects that the district people wanted were dropped and the projects desired by the top government officials  were the projects that were placed in the government budget.Dr. Tipoteh is using this debate to remind the Liberian people that the President declared corruption to be public enemy number one because the record shows that corruption in government, especially among top government officials, is public enemy number open.Dr. Tipoteh insists that common sense and love of Liberia demand that more money should be given in the name of poor people only when there is a record of proper use of the present amount of money. Dr. Tipoteh continued by saying that unless the present management is hanged through peaceful electoral action by the people to get honest people in top government positions, any more money placed in the government budget in the name of poor people will be chopped again by the greedy and corrupt government officials.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more


first_imgMET EIREANN has issued an Orange weather warning for Donegal until 10pm tonight.The forecaster says it is warning of possible flash floods and widespread heavy rain with up to 50mm expected.The warning – issued from 10pm last night – is below: National Weather WarningsSTATUS ORANGERainfall Warning for Munster, Leinster, Connacht, Donegal, Monaghan and CavanWidespread heavy rain during Thursday:- accumulations of 30 to 50mm generally, with parts of Munster and Connacht receiving 50 to 70mm. On saturated ground, this may lead to flooding. Issued:Wednesday 31 July 2013 22:00Valid:Wednesday 31 July 2013 22:00 to Thursday 01 August 2013 22:00 STATUS ORANGE – Weather Warning – Be PreparedThis category of ORANGE level weather warnings is for weather conditions which have the capacity to impact significantly on people in the affected areas. The issue of an Orange level weather warning implies that all recipients in the affected areas should prepare themselves in an appropriate way for the anticipated conditions.FLASH FLOODS: MET EIREANN ISSUES ORANGE WEATHER WARNING FOR DONEGAL was last modified: August 1st, 2013 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more