A Dutch pension scheme’s accountability body has filed a court case to assess the functioning of its management board, the first time any Dutch fund has taken such action.The management board of the ailing pension fund for dental technicians (Tandtechniek) warned that the court referral could “seriously delay” the scheme’s plan to join giant healthcare scheme PFZW.Accountability bodies, known as VOs, represent the interests of scheme members. Tandtechniek’s VO has taken the unprecedented action in the corporate court (Ondernemingskamer) of Amsterdam’s Court of Justice, seeking an assessment of whether the board had been responsible for “culpable or apparently improper” management during the past few years.In addition, the VO has asked the Ondernemingskamer to replace the board with a temporary administrator during the course of the requested assessment. According to Hans van Meerten, spokesman for the VO, a lack of communication from the board had caused a troubled relationship between the two parties in recent years. The VO felt it had not been consulted sufficiently or sometimes at all on important issues.This applied for example to the board’s decision to join the €186bn PFZW on 1 January, as agreed in July.The board of Tandtechniek said it would listen to criticism, but that it regretted the method chosen by the VO to settle the conflict.It warned that the transfer of pension rights to PFZW and the implementation of its pension plan could be seriously delayed as a result of the legal procedure.Rob van Leeuwen, the current chairman of Tandtechniek, said he was not worried about the outcome of the court case.He said that the board’s decision to liquidate and transfer pension rights to PFZW was supported by its independent internal supervisors (RvT).“And our annual reports have always been approved by both the RvT and the external accountants,” Van Leeuwen added.Three years ago, the VO accused the previous board of “substandard performance”. This included relying too much on its pensions provider and asset manager Syntrus Achmea, and waiting too long to introduce a strategic interest-rate hedge and a dedicated risk committee.At the time, it noted that the combination of rights cuts and indexation in arrears had caused participants to lose 30% of their pension rights.At the end of last July, funding of Tandtechniek stood at 88.8%. As a consequence, the scheme’s participants are likely to face another significant rights cut when Tandtechniek joins PFZW.In the pension fund’s annual report for 2016, the VO made clear that, in its opinion, the board still lacked accountability and paid insufficient attention to limiting costs and good governance.
Share Share 10 Views no discussions Tweet Share LocalNews Ministry of Health to host health promoting school initiative workshop by: – March 2, 2012 Sharing is caring! The Ministry of Health will be hosting a workshop on Health Promoting School Initiative, on Monday March 5, 2012, for principals of primary schools on the island.Photo credit: elcivics.comThe Health Promoting School Initiative strives to provide a healthy environment, health education, school health services, along with school community projects. It also includes other programmes such as nutrition, food safety, physical activities and social support.The objectives of the training workshop are:1. To build the capacity of school principals to advocate for improved school health programmes.2. To create a network and alliance for implementing the concept.3. To strengthen and build upon current health promoting programmes at schools and4. To develop a plan of action to improve the health of school age children.The training takes the form of three presentations which include environmental health, nutrition and the Health Promoting School concept. This will be followed by group activities.The Health Promoting School Initiative programme was conceptualized due to the increase of CNCDs- Chronic non Communicable Diseases and obesity in children and the need to start early intervention at school level.Dominica Vibes News
Share Share EFL urges government to rethink gambling sponsorship ban July 3, 2020 StumbleUpon A Sky Bet advert broadcast on 30 August 2018 has been banned by the Advertising Standards Agency after being deemed socially irresponsible.The advert, fronted by Sky Sports presenter Jeff Stelling, promoted the operator’s “request a bet” service to customers which would allow punters to place a combination of bets throughout a football match. In the advert, Stelling says: “Forget ‘anything can happen’, in sport anything does happen. But could it be better? With Request a Bet it could. Spark your sports brain and roll all the possibilities into one bet. “Three red cards, seven corners, five goals: lets price that up. Or browse hundreds of request a bets on our app. The possibilities are humongous. How big is your sports noggin? Sky Bet, Britain’s most popular online bookmaker. When the fun stops, stop.”The advertising watchdog received two complaints from individuals who challenged the idea that it was socially irresponsible due to its implication that individuals with thorough sports knowledge were likely to experience gambling success.Sky Bet was found to have breached BCAP Code rules 17.3 for its creation of “an unrealistic perception of the level of control consumers would have over betting success”.The ASA responded to the advertisement, upholding the ruling. The ruling detailed: “The ad contained a number of references to the role of sports knowledge in betting, such as “spark your sports brain” and “how big is your sports noggin”. “It also included a well-known sports presenter, who viewers would recognise as having a particular expertise in sports, and on-screen graphics used to depict brain waves and various odds.“The ASA considered that, taking all those elements into account, the ad placed strong emphasis on the role of sports knowledge in determining betting success. We acknowledged it was the case that those with knowledge of a particular sport may be more likely to experience success when betting.“We considered that the ad gave an erroneous perception of the extent of a gambler’s control over betting success, by placing undue emphasis on the role of sports knowledge. “We considered that this gave consumers an unrealistic and exaggerated perception of the level of control they would have over the outcome of a bet and that could lead to irresponsible gambling behaviour.”Gambling operators have previously come under fire for the promotion of gambling services during TV advertisements. The Committees of Advertising Practice, as a result, released a number of additional restrictions upon gambling advertisements in February 2018 especially restricting those that use celebrities and sports stars in their promotions. Related Articles BGC: Charities win big as bookies take beating in Britannia Stakes June 19, 2020 Submit PokerStars moves to refresh global appeal with ‘I’M IN’ August 18, 2020