Pension fund for DuPont weighs cross-border move to Belgium

first_imgUS chemicals firm DuPont de Nemours has confirmed it is considering to move the pensions of its Dutch workers to its European pension fund in Belgium.The multinational’s €1.15bn Dutch scheme said it intended to join the Mechelen-based European pension plan in 2017.However, it also noted that it still needed approval from Dutch pensions regulator De Nederlandsche Bank (DNB), the Dutch tax authorities and the company’s works council (OR).The employer’s current contract with the pension fund is to expire at the end of 2015, but the scheme made clear it expected the contract to be extended by another year. DuPont Netherlands is no longer the scheme’s main sponsor, following the establishment of Chemours Netherlands as a soon to be fully independent and listed offshoot of the US firm.The pension fund did not respond to requests for comment from IPE sister publication PensioenPro.The Pensioenfonds DuPont is not the only Dutch scheme to consider a cross-border move of late, with the pension plans of energy companies ExxonMobil and BP recently making clear that they were considering such step.Clearing house Euroclear and pharmaceuticals company Johnson & Johnson already moved their pension schemes to Belgium.Companies usually cite synergy benefits, as well as increasing regulatory pressure in the Netherlands, as the chief reasons for merging their international pension plans.The Pensioenfonds DuPont returned 25% on investments last year.Both its official policy funding and its daily coverage stood at approximately 118% at March-end.last_img read more

Weah Watches as Liberia Lose 3-1 to Congo

first_imgThe two sides meet again in Monrovia on Tuesday.DR Congo and Zimbabwe are the other two teams in Group G and they play on Friday in Kinshasa and then on Tuesday in Harare, both nations have four points from their opening two games.Weah watched on as Merveil Ndockyt converted a cross on 15 minutes to give the hosts the lead at half-time in Brazzaville.Norway-based Sam Johnson levelled two minutes after the break with a powerful shot that was warmly applauded by Weah who played for Monaco, Paris Saint-Germain and AC Milan.However, Congo’s win was sealed with goals from two Princes – Ibara headed home after 62 minutes and Oniangue in the final minute of the game.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Liberia’s President George Weah watched on as his country’s national team lost 3-1 to hosts Congo in 2019 Africa Cup of Nations qualifying.The former world footballer of the year, played in an international friendly for Liberia in September.It was a first win in Group G for the Red Devils and lifts them to four points, leaving Liberia bottom of the pool with 1 point after three matches.last_img read more