The issue of deploying pension contributions for mortgage payments has been on the agenda for pensions reform in the Netherlands since at least 2011, when trade union RMU came up with the proposal.Last month, social affairs minister Wouter Koolmees said he would assess the possibilities of making it an option for savers in a new pensions system.The researchers at ASRE highlighted that they only looked at the financial impact of using pension contributions for paying off a mortgage, and said that they hadn’t taken any possible legal or practical hurdles into account.Contribution flexibility pros and consResearch published by Tilburg University and the Netherlands Bureau for Economic Policy Analysis last year called for Dutch workers to be granted greater flexibility over how they use their pension savings, claiming the benefits of such freedoms would outweigh the risks.At IPE’s annual conference in Dublin in December, panellists also debated alternative uses for pension contributions.During a panel discussion, Michael O’Higgins – a former chair of the UK’s Pensions Regulator – suggested allowing people to use auto-enrolment savings to pay off student loans faster. Amlan Roy, chief retirement strategist at State Street Global Advisors, added that the US Treasury department and the Department of Labor were considering “lifetime loan-bundling vehicles” to help younger workers pay off student debt.However, Tim Jones, former CEO of UK defined contribution fund NEST, disagreed strongly with the idea, arguing that: “Pension money is for your later life. No ‘ifs’ or ‘buts’.” Using pension contributions to pay off a mortgage would not be a financially attractive option, a survey by the Amsterdam School of Real Estate (ASRE) has suggested.It found that, on balance, the financial advantage of lower initial housing costs would be more than cancelled out by a lower pension income in retirement.The survey found that households using their pension contributions to pay down mortgage debt would have 6% more income during the entire duration of the mortgage.However, these households would also have a 15% lower pension income, it said.
Oldenburg, Ind. — Members of the Oldenburg community gathered Wednesday to dedicate the town mural on the side of the Village Store facing State Road 229. The artwork was developed by the town and staff from the Oldenburg Academy.The design includes all local businesses, and was conceived by the town of Oldenburg, Chris Ann Hettesheimer and Andrea Grimsley. Students in all grades participated in layout and painting of the project.Assistant principal Jonathan Maple says the students were involved in every aspect of the project- design, material procurement, layout and painting. The mural was funded by the Rural Alliance for the Arts and Joan and John W. Hillenbrand Vision Fund. The cooperation of Ellen and Jeff Paul, owners of the Village Store was vital in the completion of the mural. Oldenburg Academy peresident Diane Laake led the presentation.
Jose Mourinho launched a thinly-veiled attack on referee Martin Atkinson after Chelsea’s 1-1 Barclays Premier League draw with Burnley at Stamford Bridge. The turning point of the match unfolded in the 70th minute when Nemanja Matic was sent off for pushing Ashley Barnes to the ground in response to a nasty one-footed lunge from the forward. Mourinho insisted that Barnes should not have been on the pitch to commit the studs-up foul as his 31st minute knee on Branislav Ivanovic was worthy of a red card. “A couple of weeks ago when I was here in the press conference after the Liverpool game in the Capital One Cup, the television subtitles had gone on and on about Diego’s crimes. Well compare Diego’s crimes with what happened against Burnley.” Mourinho may have been guarded with his thoughts, but Chelsea’s official website later posted a story which contained no quotes but a breakdown of the incidents. It read: ” MINUTE 30: Branislav Ivanovic is felled by a challenge from Burnley’s Ashley Barnes [pictured above], who escapes punishment; MINUTE 33: The Blues are denied a clear penalty as Ivanovic’s shot strikes the arm of Michael Kightly inside the penalty area; MINUTE 43: A second clear penalty appeal is turned away, this time after Diego Costa was pushed to the ground by Jason Shackell; MINUTE 69: Barnes goes through Nemanja Matic with a potentially leg-breaking tackle, a challenge which ultimately led to Matic’s dismissal.” Mourinho claimed in January that there is a “clear campaign” by “people, pundits, commentators and coaches from other teams” against Chelsea and the Portuguese hinted that Saturday’s events against Burnley have only solidified his belief. “Have I seen a run of decisions like this? I don’t remember. I’m happy that I’m not stupid and I understood everything a couple of months ago. I’m not in the mood to laugh,” he said. “If this story that started a couple of months ago finished today with 12 matches to play with an advantage of five points, I’d tell you we will be champions. But I don’t know if the story ends here, or if there is more waiting for us.” Burnley boss Sean Dyche refused to antagonise Mourinho, though clearly disagreed with his belief that Barnes should have been sent off. “I’ve only seen it as it happened. It looked like a coming together at an odd angle. Then Matic reacts in the way he did,” Dyche said. “I will look back at it again, but I haven’t seen it since. But there’s more to talk about than that because it was an excellent performance. “Barnes was involved in something earlier in what sense? Playing football? A charge in the back? Is there anything else? The grass was too short? “I have total respect for Jose Mourinho, his players and Chelsea. Fantastic manager, fantastic club.” The Chelsea boss also disagreed with Atkinson’s decision to reject penalty appeals when Michael Kightly handed the ball in the 34th minute and Jason Shackell barged over Diego Costa in the 44th minute. Ivanovic opened the scoring for the Premier League leaders before Ben Mee headed home an 81st-minute equaliser. Mourinho, mindful of avoiding another run-in with authorities, chose his words carefully as he criticised Atkinson. “This game had four crucial moments – minutes 30, 33, 43 and 69. This is the story of this game. I can’t comment because it’s difficult for me to not say the truth,” Mourinho said. “I’m making it easy for you because if you look at these moments you know exactly what I think about the game. “What happened to Matic was in minute 69 and minute 69 had a big relationship with minute 30 because normally that player, if I can call him a player, should have been in the shower in minute 31. “There wouldn’t have been a minute 69 if the person in charge had dealt with minute 30 properly.” When asked about Barnes’ tackle, Mourinho replied: “I’ll leave it with you. I’d prefer not to call it because if I call it I’m going to use some words….. Press Association
Ghana captain Asamoah Gyan has been named in the 2013 Africa Cup of Nations best XI squad.The Black Stars striker scored one goal in six matches but created several assists for his teammates as Ghana finished fourth.Gyan was selected by CAF’s Technical Study Group to strike upfront with Nigeria’s Emmanuel Emenike who was joint top scorer with Mubarak Wakaso with four goals.African XI: Vincent Enyeama-Bakary Koné, Nando Maria Neves, Efe Ambrose-Jonathan Pitroipa, Siaka Tiéné, Seydou Keita, John Obi Mikel, Victor Moses, Asamoah Gyan, Emmanuel Emenike.