Tag: 南京三大平民场子

Russian pension funds set for more secure future

first_imgThe Russian press additionally reported that there would be no further moratoriums on pension contributions in 2016.Medvedev explained that he based his decision on expert advice and public opinion.In a recent poll conducted by Public Opinion Foundation, 62% of those surveyed opposed the abolition of a funded pension system.The main reasons for their view were poorer retirement prospects and losing the opportunity to save for their retirement.Medvedev’s announcement is a victory for the finance and economy ministries and Bank of Russia over the government’s “social” bloc, spearheaded by Olga Golodets, deputy prime minister for social affairs, and Maxim Topilin, minister of labour and social protection.The social bloc’s arguments for either making the second-pillar voluntary or even abolishing it included what they considered to be poor returns generated by the scheme.In 2014, according to Bank of Russia, NSPF nominal returns averaged 4.9% compared with an inflation rate of 11.4%, although individual fund returns ranged between 0.2% and 52%.However, the fund run by the state-owned Vnesheconombank (VEB) for those citizens who did not choose a private NSPF returned only 2.68%.Last year proved disastrous for conservatively orientated funds investing in government securities, notably VEB, as sharp interest rate hikes by the central bank pushed up bond yields.Meanwhile, the 24 NSPFs that had, as of 1 March, converted from non-profit to joint-stock company status, gained central bank accreditation and signed up to the guarantee scheme administered by Deposit Insurance Agency (DIA) will receive the contributions frozen in the second half of 2013 and held at VEB by the end this May.Funds that register later will get their contributions from the third quarter of this year.In April, the central bank approved two more funds to join the DIA.The collective RUB947bn (€17bn) in pension savings accounts for some 85% of the total.Mandatory second-pillar funds that fail to complete this process by the start of 2016 will be liquidated. Russia’s non-state pension fund (NSPF) system appears more secure after the government ended months of speculation over its fate.Today, Russian prime minister Dmitry Medvedev announced at a government meeting that the country would continue with the accumulative mandatory second pillar.Medvedev has instructed Igor Shuvalov, first deputy prime minister, to produce proposals to balance the budget and produce more effective measure for the long-term use of pension fund assets.The decision follows on from yesterday’s announcement by the Kremlin’s press service that, following a meeting with government members at the start of the month, president Vladimir Putin instructed the government and Bank of Russia, the central bank and pensions regulator, to devise mechanisms for channelling NSPF assets into long-term investment projects, and to assess financing volumes.last_img read more

Kidambi Srikanth reaches third straight final, beats world No.4 Shi Yuqi in Australian Open Super Series

first_imgKidambi Srikanth eased into his third consecutive final as he beat world No.4 Shi Yuqi in straight sets to reach the final of the Australian Open Super Series on Saturday.Showing supreme control on his game, Srikanth defeated the Chinese 21-10, 21-14 in just 37 minutes.The world no.11 will face the reigning Olympic champion and world No.6 Chen Long, who beat world No.14 Lee Hyun II of Korea 26-24, 15-21, 21-17.Srikanth exuded confidence right from the beginning of the game as he patiently played Shi around, everytime putting back one extra shot to force an error out of the fourth seed.In the first game, after initial close battles, Srikanth raced ahead to make it 15-9.Generally known for his attacking gameplay, Srikanth surprised the world No.4 with his patience and beautiful net play. Accurate net shots, smooth drops shots were the highlight of Srikanth’s play in the first game.Shi could pull back just one point before Srikanth sealed the game 21-10.The second game saw Srikanth playing much more of his natural game as he launched innumerable smashes at Shi.Shi did keep up with the Indian’s quickness and attack and showed good defensive shots but Srikanth took a comfortable 11-8 lead at halfway break.From there on, Srikanth notched up his attacking performance and despite some beautiful drop shots from Shi, the world No.11 sailed ahead to make it 20-13.Though the Chinese pulled back a point to make it 20-14, Srikanth finished the game with his trademark smash.advertisementSrikanth reached the semi-final by beating compatriot B Sai Praneeth 25-23, 21-17.After losing the final of the Singapore Open in April to compatriot B Sai Praneeth, Srikanth has brought his ‘A-game’ to the fore and has been going from strength to strength.Last week, Srikanth became the first Indian to win the men’s singles title at the Indonesia Super Series Premier by defeating Japanese Kazumasa Sakai.last_img read more