Ilmarinen urges preparation for long-term future of pension system

first_imgJouko Pölönen, Ilmarinen’s chief executive, said the outlook for pension financing in Finland would be stable in upcoming decades, according to a long-term calculation concerning the sustainability of the pension system. The Finnish Centre for Pensions published its latest figures on pension sustainability last month.“The pension contribution can be kept below 25% up until the 2050s,” he said. “However, in the long term, a decline in the birth rate will cause significant pressure to raise the contribution, which we need to prepare for well in advance.”First-quarter gains hit 4.6%Ilmarinen’s investment assets grew to €47.4bn at the end of March, from €46bn at the end of December.The fund’s first-quarter return amounted to 4.6%, compared with a loss of 0.1% in Q1 2018.Equity investments generated a return of 8.8%, while fixed-income investments returned 2%. The long-term average nominal return was 5.7%, corresponding to a real annual return of 4.2%, Ilmarinen reported.The pension insurer’s solvency ratio strengthened by 1.1 percentage points to 124.8%, with solvency capital at €9.6m, compared with €8.9m at the end of 2018. Rising employment in Finland will support pension contribution volumes this year despite economic weakness, according to the country’s largest pension fund.However, Helsinki-based Ilmarinen warned that the country’s low birth rate meant preparations must be made for the long-term future for Finland’s pension system.Despite expected slower economic growth both in Finland and other industrialised countries compared to 2018, domestic employment and payroll were expected to continue to develop favourably, Ilmarinen said in its first-quarter report.“This will have a positive impact on pension providers’ premiums written in 2019,” the pension insurance firm said.last_img read more

C-NS’s Putman breaks third school record at Utica College meet

first_imgMeanwhile, Blaisdell went 16’8 1/4″ to finish second in the long jump, with Julianna Hutt (16’3 1/2″) in fifth place as Blaisdell also going 37′ 1/2″ for second place in the triple jump.Putman paired with Allison Newton, Hannah Boyle and McKenna Slate for second place in the 4×400 relay in 4:08.55 behind Shenendehowa’s meet-record 4:06.33. Boyle also was sixth in the 300-meter dash in 43.23 seconds.Schulz, in 1:39.77, beat out Boyle (1:40.07) and Putman (1:41.03) for second place in the 600-meter run. Liverpool also was fifth in the 4×800 relay in 10:21.87 as Sydney Carlson was sixth in the 1,000-meter run.Meanwhile, in the boys CNY “Higher, Farther, Faster” meet, C-NS had 39 points for fourth place and Liverpool was 12th with 22 points.R.J. Davis nearly won the 1,000 for C-NS, his time of 2:37.77 just behind the 2:37.56 from Shaker’s Francisco Mendonca. Sam Nessel went 36.92 seconds in the 300 to finish third as the Northstars were third in the sprint medley relay in 3:58.15.Isaiah Wright rose to third place in the 55 hurdles in 8.10 seconds as Carlton Garnes (8.29) was fifth. Matt LeClair was eighth in the 1,600-meter run as Wright was seventh in the long jump and Garnes seventh in the triple jump.Liverpool had its best finish in the 3,200-meter run, where Jake McGowan, finishing in 9:51.75, trailed only the 9:50.06 from Baldwinsville’s Colin Delaney as C-NS’s Zach Bergman was sixth in the unseeded race.Bennett Robb clear 6 feet in the high jump for fourth place, with Jalen Graham fifth in the weight throw by going 50’11”. C-NS was sixth in the 4×400 as Liverpool also was sixth in the 4×800 and eighth in the 4×200 relay.Share this:FacebookTwitterLinkedInRedditComment on this Story All told, C-NS finished second in the girls team standings with 64 points, just ahead of Liverpool in third place with 59 points as Shenendehowa (103.5 points) claimed the top spot.The Warriors featured Amina Sinclair winning the high jump by clearing 5 feet 4 inches, with C-NS’s Lilly Capria sixth at 4’10” as Kali Hayes won the 55-meter hurdles in 8.81 seconds, just ahead of the 9.12 from the Northstars’ Brooke Blaisdell.Imahni Sinclair prevailed in the weight throw, heaving it 46’3″, more than five feet ahead of the field as she also got seventh place in the shot put, going 33’10 1/4″. Tags: C-NSindoor trackliverpoolcenter_img Though only a ninth-grader, Cicero-North Syracuse’s Kate Putman already occupies a large place in the girls indoor track and field program’s record books with school marks in 500 and 600-meter events.And Putman added to that legacy with a superb performance at 3,000 meters last Friday in the Central New York “Higher, Farther Faster” Invitational at Utica College’s Hutton Dome, nearly catching Liverpool superstar Jenna Schulz.With her time of nine minutes, 54.35 seconds, Putman shattered Maria LaMontagne’s nine-year-old school mark of 10:06.87 by more than 12 seconds, and was second overall, less than three seconds behind Schulz’s winning 9:51.78.last_img read more