Henry Street HQ to expand

first_img Previous articleNorthampton match traffic planNext articleO’Dea promises to ‘kick some ass’ admin Twitter NewsLocal NewsHenry Street HQ to expandBy admin – January 21, 2010 691 HENRY STREET gardai have been granted an extension…. with the acquisition of the leasehold interest in the adjacent former Eircom premises, and designed to relieve the pressure on their existing building.It had been indicated two years ago that the Department of Justice had expressed an interest in section of the now Foreign Aid building across the road, and which had been under construction, with a view to providing long sought after additional space for Henry Street garda personnel.Sign up for the weekly Limerick Post newsletter Sign Up Contracts have now been signed for the red-bricked former Eircom offices, built in the 1970s by local developer Charles Humphreys.Their new premises, which had been on the market for some time, have five floors of accommodation.The current premises will be retained.Inspector John O’Reilly said that, like all garda stations, the building is to be leased, and that a number of departments, along with Garda training quarters, would be transferred there.“We are expected to be in situ for July of this year”, said the Inspector, confirming there would not be any additional holding cells in their new premises. The cells are to remain at the existing station.There are around 350 garda personnel in the district, which includes Henry Street, Mayorstone and Mary Street stations.Plans are also in place to relocate Limerick District Court to a more secure location in the city, and while a Henry Street site had been widely mooted, the likelihood now is that it will be built on a vacant space in Mulgrave Street, and close to the prison. Print Facebookcenter_img Advertisement Linkedin WhatsApp Emaillast_img read more

PODCAST: Celebrating greatness

first_imgIn this episode of the CUNA News podcast, Crystal Long and Diana Dykstra, winners of the National Credit Union Foundation’s Herb Wegner Memorial Award for Individual Achievement, share their feelings on winning the award and the paths they followed to earn them such a distinguished honor.Crystal Long is president/CEO of GECU in El Paso, Texas. Under her leadership, GECU has made a commitment to community development and enabled  many El Paso residents achieve economic prosperity.She is also a dedicated advocate for the credit union movement who puts her staff and members first. Long started her career with GECU as a file clerk at age 19. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img

€11bn Dutch medical consultant scheme not keen on system reform

first_img“But of course, we will keep on adjusting to a changing environment,” said Jeroen Steenvoorden, SPMS’s director. “We will base our assessment of new arrangements on the ultimate details.”In order to increase the sustainability of its existing pension plan, the medical consultants’ scheme has decided to raise its annual contribution of €28,380 by up to 6% while reducing the accrual by 5.1%. It said this would enable its participants to keep on retiring at 65.Equity overweighting, currency hedge hitsSPMS made a loss of 1.7% on its investments last year, and attributed this in particular to badly performing equities as well as the negative contribution of its currency hedge.It explained that the 7.4% loss on equities had been boosted by its tactical overweighting of almost three percentage points at the end of September.Steenvoorden said that the overweighting of equity had been reduced to 0.4% this May, when its equity portfolio comprised 26.9% of its assets.As a result of its full hedge of the dollar, sterling, and the yen, SPMS lost 4.2% on its currency cover, in particular due to the strong appreciation of the dollar relative to the euro in 2018. In the previous year, the hedge had generated a profit of 5.5%.Also as a consequence of currency losses, the return of both real estate and hedge funds did not exceed 0.5%, according to the pension fund.Its 58% fixed income holdings generated 3%. Dutch and German government bonds were the best performing investments, gaining 6.2%.The pension fund’s infrastructure loans produced 3.5%, said SPMS, adding that it aimed to extend its holdings from 4% to 5%.Thanks to a 78% cover, the pension fund gained almost 5% on the interest hedge of its liabilities, due to the falling interest rates.SPMS noted that the interest hedge had even generated a 1% outperformance, as the interest rates on Dutch and German government bonds had dropped faster than the swap rates.Steenvoorden attributed a 14% drop in asset management costs, to 0.43%, to lower performance fees.“Last year’s return fell 94 bps short of the benchmark, whereas the outperformance in 2017 was 105 bps,” he explained.SPMS reported administration costs of €434 per member and transaction costs of 0.21%. The scheme has 8,230 active members, 1,745 deferred members and 7,160 pensioners.At the end of last May, its funding stood at 125%. SPMS, the €11bn occupational pension fund for self-employed medical consultants, is not desperate for a new pensions contract as part of the reform of the Dutch pensions system, it has said.In its annual report for 2018, it said that “the ideal pensions contract doesn’t exist” and that, with its fixed inflation compensation of 3%, it already had “excellent pension arrangements”.In its opinion, replacing average accrual with an age-related degressive one would also not be an improvement, as it considered its fixed indexation already as a form of degressive accrual.The pension fund said that it would therefore like the option of continuing its existing pension plan alongside any new arrangements. last_img read more