AP7 outshines private pension providers with 2017 return

first_imgAP7’s dominance over Sweden’s premium pension system increased last year with new customers and a better-than-average investment return.The fund – one of Sweden’s national pension funds and the default provider in the country’s premium pension system (PPM) – increased its saver numbers last year to more than half of the total participants in the system.Its balanced fund offering, Såfa, generated an investment return above the average return produced by private providers in the PPM, returning 14.4% in 2017.This compared to the 11.3% average return from funds included in the system’s funds marketplace, according to full-year figures released by the Swedish Pensions Agency. In 2016 Såfa returned 13.9%, compared to the average private sector return of 9.5%.The agency said: “Like the year before, 2017 was a year which – viewed from a premium pension perspective – goes down in history as one of the most dramatic.”The year had included everything from scandals and police investigations to a proposed overhaul of the funds marketplace, it said.The PPM is the funded part of the Swedish state pension where pension savers can make their own investment choices. Contributions can either be put into products from the wide range of private sector investment managers, or invested with state pension fund AP7’s Såfa option, which uses a lifecycle approach.The majority of savers in the system had their savings with AP7 in 2017, with the SEK400bn (€38.9bn) fund’s share of customers rising to 52% from 48% in 2016.However, accounts held with AP7 remained much smaller on average than those held with private sector providers. Assets held with AP7 Såfa amounted to 33% of the total fund capital in the premium pension system last year.The average account balance at AP7 was SEK173,400, while pension savers with their own portfolios with fund marketplace providers had an average of SEK241,200, according to the data.Bengt Norrby, statistician at the Swedish Pensions Agency, said: “An explanation for the difference in savings is that a large part of the capital inflow to AP7 Såfa comes from young savers, who usually have lower incomes and, consequently, lower pension contributions.”At the end of 2017, total managed capital in the premium pension system amounted to SEK1.4trn, up from SEK986bn at the end of the previous year.last_img read more

Liverpool to lift Premier League trophy in ceremony on the Kop

first_imgRelatedPosts Lampard: I still have confidence in Tomori Ighalo: My best moment as ‘Red Devil’ Mane double eases Liverpool to win over 10-man Chelsea Liverpool will be presented with the Premier League trophy on a special podium built on the Kop stand at Anfield following their clash with Chelsea on July 22.Juergen Klopp’s Liverpool secured their first top-flight title in 30 years last month and will receive the trophy after their final home game of the 2019-2020 season. Liverpool great Kenny Dalglish, who was the club’s manager when they last won the title in 1990, will present the players and staff with their winner’s medals alongside Premier League chief executive Richard Masters.The game against Chelsea and the subsequent trophy presentation will be broadcast free-to-air in Britain by Sky Pick.Reuters/NAN.Tags: Kenny DalglishKop StandLiverpoolPremier Leaguelast_img read more

Lakers’ JR Smith took fatherly advice on his way back to the NBA

first_imgSmith has undoubtedly been rusty in the restart. He said it’s also been difficult being away from his family again: He estimates he spends up to six hours a day on FaceTime with his daughters – even the youngest at 2 years old brings the phone to her mother, eager to call Dad.Earl Jr., like any sports father, thinks his son could benefit from a few more touches. But more importantly, he sees his J.R. fulfilled back on the job.“This is the happiest I’ve seen J.R. in years – the happiest I’ve seen him since he won the championship,” Earl Jr. said. “It was depressing for a while. Every man cries for a reason, and he had a reason. But when J.R. is in something and committed to it, he’s in it 110 percent.” Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed Lakers practice early hoping to answer all questions Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers How athletes protesting the national anthem has evolved over 17 years Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with Packers“It was a lot, but it’s funny,” he said. “Because once you’re on a bike, and you’re cruising, you don’t really think about it too much until you gotta turn around and go back.”So yes, J.R. Smith’s return to the NBA for the first time since November 2018 is like riding a bike.Everyone is getting used to the strangeness of playing out the season in the Disney bubble, but returning to the structure – the practices, the film sessions, the team dinners – has felt easy for Smith, a 15-year veteran who has spent almost half his life in the NBA.Even though he is the most recent Laker newcomer after signing in June, he has some of the most robust and complex handshakes with teammates that he executes at introductions before every game. He hasn’t played much during the restart, only 54 minutes in five games, but that hasn’t mattered as much as simply being in the league again.When did it feel like Smith had blended into the Lakers’ locker room? Lakers, Clippers schedules set for first round of NBA playoffs “The first day he got here: Everybody’s known him,” said Danny Green, who came up in the same Northeast hoop circles as Smith. “We’ve all played against him for years. He’s played with most of these guys here. They’ve all known him, shown love, grew up in the same area with the guy, so first day he was himself, and he was happy and excited. And it was like, he’s here, so he’s just a part of the group.”Shaking a stigmaBy his own admission, Smith’s comeback from the pits of a “depressed state” is a fairly remarkable one.In his last year with the Cavaliers in the 2018-19 season, the franchise began to pivot to a rebuild after LeBron James moved on and was set to reduce his minutes. Smith pushed back. He publicly accused the franchise of tanking, after which Smith and the Cavs agreed to split, with Smith on his own away from the team while a trade could be worked out. The trade never materialized, and he was waived in July 2019, at which point he began to realize getting back in the NBA might be harder than he thought.Smith declined to discuss the specific challenges of getting back into the league with the Southern California News Group, but he told the Inside the Green Room podcast that he believed persistent off-court rumors about his character were to blame – which he and his family have said were unfair.Smith has a reputation as an NBA wild card: His tenure with the Cavaliers included a famous anecdote of him throwing a bowl of soup at assistant coach Damon Jones, and he also was meme’d for a Game 1 mistake in 2018 when he allowed the game with the Warriors to go to overtime rather than taking a final shot. More seriously, in May, he was filmed in a fight with a man whom he accused of vandalizing his truck during a George Floyd protest in Los Angeles.While Smith acknowledges these past incidents, he also wishes equal weight were given to his track record as an NBA veteran and key player on several title-contending teams.“It is what it is, honestly,” he said. “People are going to have that perception of me. I’m convinced of it. There’s nothing I can really do to change that except just come every day and dedicate myself, and just be consistent.”But it’s hard to be consistent when the professional life you’ve known falls out from under you. Without basketball, Smith came unmoored living with his family in Warren, N.J. He stopped playing basketball, stopped watching basketball, stopped even playing basketball-themed video games. He gained weight. He became less interested in hearing from his agent, Rich Paul, if anyone wanted him because the news was increasingly grim. He got to spend a lot of time with his four daughters, but that was a silver lining as his career slowly kept drifting away.Renewed dedicationOne of the loudest voices in his corner was Earl Jr., who told his namesake son that his career wasn’t over. Smith is close with his dad and listens – “my dad is probably right 90 percent of the time, but don’t tell him that,” he said – and Earl’s message was some serious tough love.“If you ain’t gonna play, now you gotta find something to do,” Earl said he told his son. “I thought, ‘Get your ass in shape, go to L.A. Do your thing. Go make some goddamn money for those little girls.”Smith made the difficult decision to relocate to Los Angeles, where he would have better access to training. Especially during the NBA hiatus, the combination of biking and a vegan diet made him lose 20 pounds – in a show of support, Earl Jr. went vegan for a few months, too.Without this renewed dedication, Smith said, he wouldn’t have been physically ready to play when the Lakers came calling in June to swap him in for Avery Bradley.“The weight I was at, how my body would have had to respond to recovering to playing, I don’t think it would have happened,” he said. “My body wouldn’t have been able to handle it. … At the end of the day, just thank God you have the opportunity to play this game again. Be thankful, be humble, and take it in stride.”Related Articles LAKE BUENA VISTA, Fla. — For a year-and-a-half, the fiercest competition J.R. Smith had was with his brothers – not on the court, but on wheels.It was at the start of the pandemic when the 34-year-old bought a bike, looking for a way to safely get out of the house and lose weight. He’d ride up and down Venice Boulevard. He’d ride through the Pacific Palisades. He’d ride to Manhattan Beach.Always hungry for a contest, the Smith family tracked their biking miles on an app that they checked every day. Earl Smith Jr., J.R.’s father, saw his sons Demetrius and Chris peddling along at about 12 miles a day; J.R. would hit 20 miles: “After a while,” Earl said, “it wasn’t even close.”With practice, J.R. said, he found his mind would simply settle as he rode.last_img read more

The spirit of Christmas

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWhicker: Clemson demonstrates that it’s tough to knock out the champThe toy drive begins in December with those patients wishing to bring in a new toy instead of paying a copayment. The toy must be equivalent to the fee, which is about $25. Her patients have responded overwhelmingly over the years. “I am not surprised at their generosity,” Harrod said. “People want to give, especially at this time of year, but a lot of times they just don’t know where or how.” In fact, a lot of the gifts over the years, including this one, come from people who see the “Toy Drive” sign in front of the office or by word-of-mouth. “People have come by off the street, not patients, and dropped off toys,” said Nancy Gaeta, receptionist and chiropractic assistant. When the Whittier program she was affiliated with stopped its toy drive, Harrod was approached by local volunteer Chris Rodriguez about doing a drive benefiting the Bienvenidos Family Center. Rodriguez, of Pico Rivera, met Harrod when he became a patient after a car accident. “I went to four doctors before her, but she was the one to help me,” he said. This year’s toy drive will continue through Dec. 21 and will benefit Angel Step Inn of Pico Rivera, which aids battered, substance-addicted women and their children. Angel Step serves the cities of Pico Rivera, Montebello, Whittier, Santa Fe Springs and East Los Angeles. If there are enough toys, Rodriguez said, they will go to the Bienvenidos Family Center. Any items donated specifically for teenage girls will go to Maryvale Orphanage in Rosemead. “I believe in God, and I believe things happen for a reason,” Rodriguez said. “And meeting Sheila after my accident, and to be able to help others together is the best reason of all.” [email protected] (562) 698-0955, Ext. 3028160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! WHITTIER – The Christmas spirit of giving is alive and well at Harrod Chiropractic. In the decade Sheila Harrod has conducted her massage therapy practice in the corner office at 6501 Bright Ave. in Uptown, she has held a toy drive for area children. “Isn’t it what the holiday is all about?” she asked sitting in her office that has been almost overtaken with toys donated by her patients and other generous donors. “I’m overwhelmed by the toys,” Harrod, 41, said, pointing at the large pile of cars, stuffed animals and games permeating her office and reception area. last_img read more