EBC to merge with Rockeagle

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Danish roundup: ATP, PensionDanmark

first_imgDanish statutory pensions institution ATP is increasing its key pension – the ATP Lifelong Pension – by 1.5% from the beginning of next year, reflecting good investment results.However, it said returns on its bonus reserves had not been high enough to warrant distributing a general bonus to all pension scheme members.The 1.5% increase, for pensioners only, matches the uprating given this year and that of the year before. ATP’s chief executive Carsten Stendevad said: “Based on many years of good investment results, ATP can now increase the guarantees for pensioners for the third year in a row.” He said this meant the pension fund had given pensioners a rise of 4.5% since 2013.Explaining its bonus policy, ATP said it was able to increase pensions for all members, both current and future pensioners, when its free reserves amounted to at least 20% of provisions for the pensions it promised.If those reserves were between 15% and 20% of that amount, then pensions could be increased by 1.5% just for members above pensionable age.At the end of the third quarter of this year, free reserves were 16.4% of provisions.It said bonus distribution depended particularly on the development of longevity and the financial markets, as well as how well ATP invests.Meanwhile, labour-market pension scheme PensionDanmark said it was buying a retail property in the North-Zealand town of Lyngby, incorporating around 16,000sqm of space.The property – currently leased to the firm Johannes Fog and housing its DIY and home furnishings shop Fog Bolig & Designhuset – consists of 8,807sqm of retail space and 7,400sqm of parking including 265 spaces.PensionDanmark did not disclose the value of the deal.Johannes Fog said it was selling the property to focus on core activities.It said it was making a big financial profit from the sale, which gave it room to develop its main activities further.Torben Möger Pedersen, chief executive at PensionDanmark, said: “With its location in the centre of Lyngby, the property and the carpark are very attractive.”At the same time, the pension fund will have a good and stable tenant in Fog, he said.The pension fund, which managed DKK171bn (€22.9bn) in assets overall at the end of 2014, said it now had a real estate portfolio of DKK15bn divided among commercial, residential, retail and public/private partnership projects.last_img read more

Men’s hockey: Badgers suffer pair of stinging losses to Michigan State

first_imgThe University of Wisconsin men’s hockey team endured two frustrating losses against Michigan State this weekend, and with close scores of 4-3 and 3-1, the Badgers put up an impressive fight.Friday’s game started off with a bang and a Badger goal by freshman forward Luke Kunin in the first minute of play — his 13th goal of the season.Despite the final result, the Badgers dominated almost every aspect of Friday’s game. They outshot the Spartans by 16, and the Badgers’ top line of Kunin, junior Grant Besse and sophomore Cameron Hughes performed impressively, putting up six points on Friday alone.After giving up their early lead, the Badgers came back from a two-goal deficit, but it wasn’t enough in the end.Hughes and freshman Will Johnson managed to both score to tie the game, as Johnson scored on an impressive power play rebound in the second period, while Hughes scored on a one-timer from Kunin in the third.Spartan senior Matt DeBlouw, however, scored with less than six minutes left in the third period to seal the Badgers’ fate and frustration.“If you were to look at the pure numbers, you would say that’s a pretty good recipe to win,” head coach Mike Eaves said. “[The] only adjustment I would make is to put the puck in the back of the net. I thought we did some real good things.”The Badgers’ frustration then carried over to Saturday night’s game, where they faced another painful loss.Similar to Friday’s game, UW battled from behind and tied the Spartans in the third, with the lone Wisconsin goal coming from freshman Seamus Malone with about half the period underway.But Malone’s late goal ended up being a tease in what would be a poor finish from the Badgers.“It’s a similar story,” Eaves said. “We’ve talked at times during this year about being close, getting over the hump, flirting with the girl, asking her to dance. We didn’t get the timely goal tonight.”Freshman goalie Matt Jurusik stood on his head Saturday night, making many crucial saves to keep Wisconsin in the game, and while the Badgers again outshot the Spartans 26-19, they still managed to be on the losing end.Opportunities were never slim for the Badgers. Aggressive, fast paced play and a five-on-three chance with five minutes remaining in the final period gave Wisconsin hope. But, to their dismay, it did not work out in their favor.“I thought we had our chances, especially with the five-on-three, but we weren’t able to capitalize,” Besse said. “You think things are going to go your way, but when you don’t score, I would say the momentum may have shifted in their favor.”A little more than a minute later, Spartan junior Mackenzie MacEachern scored the game-winning goal and then scored again on an empty netter with just 23 seconds remaining in the game.Wisconsin is now 6-15-7 overall with a 1-10-3 Big Ten record, and with the season coming to a close, Eaves is doing all he can to keep his players motivated.“We said to the guys, we have to keep moving ahead,” Eaves said. “I know they’re banged up, they’re tired, they’re angry, they’re ticked off, all of those things.”The Badgers will face Ohio State this weekend in a Friday-Saturday series.last_img read more