French private sector schemes cut deficit with €2bn investment gain

first_imgThe scheme’s resources, mainly stemming from contributions from companies, amounted to €63.7bn in 2016. This was an increase of 3.1% from 2015, although this was partly the result of tweaks to previous payment calculations. The “real” increase was 2.3%, according to a statement from Agirc and Arrco.Pension benefits, meanwhile, amounted to €73.4bn in 2016, up by 2.8% from 2015.The technical deficit of €4.3bn takes into account a €5.4bn payment made to the schemes by AGFF, a vehicle set up by the Agirc and Arrco to finance the cost of early retirement. The deficit in France’s pension schemes for private sector employees and executives fell by around €700m to €2.24bn in 2016, helped in part by €2bn of return generated by the schemes’ reserves.The aggregate deficit across the two schemes – Arrco, for private sector employees, and Agirc, for executives – stood at €3bn in 2015.The schemes are part of France’s public pay-as-you go pensions system, covering round 22m active members and 15m pensioners. They are separate schemes for now, but are due to merge under reforms agreed in 2015 as part of an effort to tackle the funding shortfall. The technical deficit, which does not include financial returns generated from the investment of scheme reserves, amounted to €4.3bn in 2016.last_img read more

Colts owner Jim Irsay spends record $3.975M on Pink Floyd guitar

first_img Cowboys’ Jason Witten uses Coach K’s Kobe Bryant story as motivation Colts owner Jim Irsay already owns a collection of guitars and musical instruments probably unrivaled outside the Rock & Roll Hall of Fame.Now, he’s adding a really choice piece — the 1969 black Fender Stratocaster (aka “The Black Strat”) played by Pink Floyd guitarist David Gilmour on iconic albums such as “The Dark Side of the Moon” and “The Wall.” Redskins’ Alex Smith reflects on horrific leg injury, says he has to learn to run again “The incomparable David Gilmour … the greatest ‘phrasing’ guitarist in the world!!” Irsay tweeted. “Honored to bring The Black Strat to the public. The most expensive guitar EVER purchased. And for charity!!!”The incomparable David Gilmour.. the greatest “phrasing” guitarist in the world!! Honored to bring The Black Strat to the public. The most expensive guitar EVER purchased. And for charity!!!— Jim Irsay (@JimIrsay) June 20, 2019Gilmour, regarded as one of the greatest guitar players in rock history, auctioned off 120 of his guitars to benefit ClientEarth, an environmental organization. Irsay bought two more pieces from Gilmour’s collection — a 1969 Martin D-35 acoustic guitar ($1.095 million) and the case for “The Black Strat” ($175,000).center_img Irsay’s collection includes around 200 guitars, with instruments played by Elvis, John Lennon, Prince, Bob Dylan and others. He even employs a caretaker for his collection. And Irsay’s always on the lookout for other iconic items; earlier this year he purchased Lennon’s “Sgt. Pepper” piano for an estimated $719,000. Such a rarity didn’t come cheap — Irsay paid $3.975 million for the guitar at the Christie’s New York auction Thursday. That’s an auction record for a guitar. But as owner of the Colts (estimated value: $2.4 billion), Irsay can afford some really expensive toys. As Pink Floyd noted in their 1973 hit, “Money,” “Get a good job with good pay and you’re OK … Think I’ll buy me a football team.”While the auction officials had estimated the guitar would fetch somewhere between $100,000 and $150,000, some serious bidders drove the price up. Irsay shared his joy after his winning bid. Related Newslast_img read more

Tallawahs looking to keep streak alive – Richardson

first_imgHero Caribbean Premier League 2018…By Clifton RossJamaica Tallawahs Operations Manager Andrew Richardson said with crunch time approaching, the team is focused on continuing their win-streak as they prepare to tackle the Guyana Amazon Warriors in their next match set for Saturday under lights at Providence.Andrew RichardsonThe Tallawahs final squad members arrived on Wednesday while some came Monday and immediately commenced their training at the Providence Stadium. The former Tallawahs fast-bowler Tallawahs Manager, during an exclusive interview with Guyana Times Sport on Thursday afternoon, said that his players have been enjoying their time so far in the tourney and are upbeat ahead of Saturday’s clash versus the Warriors at home.“It’s always enjoyable to come to Guyana, we have had some ups and downs, we have won three in a row and we lost three in a row. But we’re looking to fix it cause now is the business end and its about positioning and hopefully we hit all our straps and correct the errors we made before”, Richardson admitted.The Jamaica Tallawahs players during their net session on ThursdayThe 37 year-old believed that his team was playing a good brand of cricket and he hopes that they can continue their win streak versus the home team and further climb the points table with play-offs approaching. “Our batting has been doing fairly decent, we have been scoring 180 plus as along as we have been defending what we post. The wicket here in Guyana has improved its look like 170 so hopefully we can capitalize on the nature of it”.Tied on 10 points with their opponents for this weekend, despite being in 4th place the former Tallawahs pacer said that winnings games and acquiring the necessary points are crucial objectives for the team. “They (points) are extremely important; the next couple of games the teams involved will determine the play-off spots. Everyone wants to be one or two, but we have to do we have to do the situation is we have one more preliminary game and we can ask our players to come good against Guyana and hopefully we can come out victorious”, he said.Former title holders, the Tallawahs have been one of the better all-round sides this season and Richardson said it’s about the team winning every match and working on their weak areas as they go forward. “We want to win every game here, we have a three game win streak and we want to pull it back at the back end we have areas we need to brush up on and now is the time” he ended.Both teams will have just one day left to fine-tune themselves ahead of Saturday night’s clash under lights at Providences which bowls off at 20:00h.last_img read more