Sally Bridgeland, former chief executive of BP Pension Trustees, has become the 14th member of the 300 Club of top investment professionals from different countries – the first woman to do so.The 300 Club, set up nearly three years ago, aims to raise awareness about the potential impact of current market thinking and behaviours.Bridgeland said: “The demands of maturing pensions funds will change considerably over the next decade, and individual savers need an investment environment they can trust for the longer term.” The 300 Club was right to challenge current thinking, she said. “I hope to contribute to the debate they have started,” she added. Bridgeland was chief executive of BP Pension Trustees for seven years until she left the £19bn (€23.8bn) UK corporate pension fund at the beginning of April.She recently took on the role of senior adviser to governance consultancy Avida International. Bridgeland is the founder of the charity Executive Shift and a fellow of the Institute of Actuaries, as well as a member of the FTSE Policy Group. Before joining BP Pension Trustees, she worked at consultancy Aon Hewitt for 20 years.The 300 Club is chaired by Lars Dijkstra, CIO at Kempen Capital Management.The club’s name refers to the legendary 300 Spartans who held off the far larger Persian army at the Battle of Thermopylae in 480 BC, and is meant to symbolise a small group achieving something against the odds.Meanwhile, new research shows that, even though pension deficit contributions made by the firms in the FTSE 350 are at their lowest for five years, they still amount to nearly 40% of their Total pensions bill.The research done by consultancy Barnett Waddingham showed that the total IAS19 deficit reported by FTSE 350 companies in 2013 was £55.6bn, down £7.6bn from the aggregate shortfall from the year before.Deficit contributions paid last year were £8.5bn, down more than 20% from 2012.Nick Griggs, head of corporate consulting at Barnett Waddingham, said: “The fact 37p of every pound spent by companies on pensions is paid towards clearing pension deficits is striking and illustrates just how much companies are still having to pay to reduce funding shortfalls.”However, Griggs said the overall picture for defined benefit funding in 2013 had improved somewhat, with deficit contributions apparently putting less of a strain on company finances.“With TPR’s (the Pensions Regulator) new funding code of practice promising to be less restrictive on corporates going forward, directors should be optimistic about the future,” he said.The study showed the effects of auto-enrolment coming through for the 350 largest listed UK companies, with defined contribution costs increasing by an average of 16% compared with 2012.In other news, Aon Hewitt said changes that have been proposed to pensions accounting standards could take more than £25bn from the balance sheets of companies in the FTSE 350, and £1bn from their annual profits.As things stand, about 25% of the top 350 listed UK companies have an accounting surplus relating to their pension scheme, which is recognised on their balance sheet.Proposed changes to the IFRIC14 guidance, which supports international accounting standard IAS19, mean surpluses will no longer be recognised unless there is a realistic expectation the company will eventually be able to access it.Simon Robinson, principal consultant at Aon Hewitt, said: “We expect most companies with schemes that already have a surplus will not be able to recognise it under the new proposal – which would reduce the balance sheets of the FTSE 350 by £8bn.”But the proposal also affects companies making ongoing deficit contributions that are expected to have an accounting surplus in future, he said. “These contributions,” he added, “would now need to be recognised as liabilities on corporate balance sheets, which would amount to a further £20bn hit for FTSE 350 companies.”Finally, funding among UK defined benefit (DB) schemes has fallen by 1 percentage point over the last month, according to the Pension Protection Fund’s (PPF) 7800 Index.According to the index, funding fell to 90.5% at the end of July, with the aggregate deficit increasing by £23.7bn to £122.7bn over the same period.“The position has worsened from the previous year, when a deficit of £88.3bn was recorded at the end of July 2013,” the PPF added.The funding decline was despite assets increasing by 0.5% in value month-on-month and an overall increase of 4.2% in asset value since July last year.However, this contrasted with a 6.7% increase in liabilities, from £1.21trn to £1.29trn at the end of last month.
Read Also: Neymar flees Paris for Brazil to self isolate amid coronavirusProfessional sides in Germany depend heavily on the income from television rights with local broadcasters paying 4.6 billion euros over a four-year deal to show matches.Gladbach played the league’s last game before the outbreak-enforced break with a 2-1 behind closed doors win over Cologne on March 11.The fixture held without fans at their Borussia Park reportedly cost the club around two million euros.FacebookTwitterWhatsAppEmail分享 Promoted ContentTop 10 TV Friends Who Used To Be EnemiesA Guy Turns Gray Walls And Simple Bricks Into Works Of ArtWho Is The Most Powerful Woman On Earth?The 18 Most Visited Cities In The WorldTop 10 Most Iconic Characters On TVWhich Country Is The Most Romantic In The World?6 Incredibly Strange Facts About HurricanesBirds Enjoy Living In A Gallery Space Created For Them7 Theories About The Death Of Our UniverseCan Playing Too Many Video Games Hurt Your Body?7 Things That Actually Ruin Your PhoneThe Highest Paid Football Players In The World “I didn’t have to explain much. The players know what’s going on. It’s their job, they have already informed themselves and thought about what they could do,” he added. Coaching staff and boss Marco Rose have also said they would go without their salaries. According to media reports in Germany, the decision by the likes of captain Lars Stindl, forward Alassane Plea and goalkeeper Yann Sommer will allow the side sitting fourth in the table to save one million euros ($1.07 million). On Tuesday, Borussia Dortmund’s Hans-Joachim Watzke was criticised for saying the country’s biggest clubs should refrain from financially helping the league’s smaller outfits. Loading… Borussia Moenchengladbach’s squad have offered to give up their wages to help the club’s financial situation during the coronavirus pandemic, sporting director Max Eberl said on Thursday. Alassane Plea is Borussia Moenchengladbach’s top goal scorer in the league this season Gladbach are set to lose income from broadcasting, sponsorships and ticket sales during the COVID-19 outbreak with all Bundesliga matches suspended until at least April 2. “The team has offered to forego salaries if it can help the club and its employees,” Eberl told the club’s website.Advertisement
MIAMI >> For the first time in three weeks, Zack Greinke pitched with a lead Sunday. When it finally came in the sixth inning against the Miami Marlins, it was ugly.Jimmy Rollins beat out an infield single and went to second on a balk. Rollins took third base on a sacrifice bunt by Greinke himself, then scored on a ground ball as Marlins first baseman Justin Bour pulled his foot off the bag in order to catch a throw from his shortstop.Just like that, Greinke’s streak of bad luck was over. After starting nine straight games without a victory, Greinke (6-2) was the winning pitcher in the Dodgers’ 2-0 win over the Marlins. He did not allow a run over 7 2/3 innings and hasn’t been scored upon in his last three starts – a streak of 20 2/3 innings.Somehow this was his first win since May 5. Greinke was 0-2 with seven no-decisions in the meantime.“That’s the game,” Dodgers second baseman Howie Kendrick said. “You can go all year, certain guys get more runs than others. It’s not like we go out as players, ‘we’re going to score more runs today,’ but sometimes you face really good pitching when those guys are on the mound. Our two aces are going, then the other team’s top two guys are usually going. That’s going to make for tough days.”The Dodgers were able to take two of three games from the Marlins in the series, and have won four of seven to begin their 10-game road trip. They visit Phoenix for three games against the Arizona Diamondbacks beginning Monday. Wins and losses aside, Greinke’s season is beginning to demand comparisons to some of the best in baseball. His earned-run average of 1.58 is the lowest of any qualified pitcher. Newsroom GuidelinesNews TipsContact UsReport an Error Among National League pitchers, only Washington Nationals right-hander Max Scherzer has thrown more innings than Greinke, and allowed fewer walks and hits per inning, to this point in the season.The All-Star Game is July 14. San Francisco Giants manager Bruce Bochy can choose who starts for the National League and Greinke has turned himself into a candidate.Dodgers manager Don Mattingly is a coach for the National League squad; does he believe Greinke should start?“Sure,” Mattingly said. “I don’t know. I haven’t looked at all the other pitchers or anything like that. Obviously he’s pitched good enough to be one of those guys.”Greinke declined to say what pitching in the All-Star Game would mean to him. He’s done it twice before.In terms of ERA at least, Greinke is having a better season than Clayton Kershaw did in 2014, when he won the National League MVP and Cy Young awards. But Greinke barely indulged the comparison.“Mine’s been very average compared to (Kershaw’s), I think,” Greinke said. “He would go like eight innings every start, strike out eight-plus. Mine’s been a little bit of luck, a little bit of skill.”Told that he’s allowed one run or less in 12 of his 16 starts, Greinke said, “it’s in-between average and what (Kershaw) did last year.”The Dodgers put at least one runner on base in each of the first four innings Sunday against Marlins starter Jose Ureña (1-4) but could not score. When they finally broke through, it was hardly Ureña’s fault.Rollins was on third base and Joc Pederson was on first with one out. Kendrick hit a tailor-made double-play ball to Marlins second baseman Dee Gordon, but shortstop Adeiny Hechavarria threw a bit wide of first base, wide enough that Bour couldn’t toe the bag. Kendrick was safe and Rollins scored, giving the Dodgers a 1-0 lead.With two outs in the seventh inning, Kendrick walked and Adrian Gonzalez drove him in with a double, extending the Dodgers’ lead to 2-0.Adam Liberatore got the final out of the eighth inning, and Kenley Jansen pitched a scoreless ninth for his 11th save.The Marlins are 31-46, a team the Dodgers are expected to beat. Expectations haven’t always guaranteed wins for Greinke, though, so Sunday’s victory was of no small consequence.The stone-faced pitcher barely showed it.“I think I saw him dance on the inside,” Mattingly said.