‘Fresh thinking in pensions’ leads to new worldwide analytics tool

first_imgFord Motor Company is now in a position to compare the value of the pension provision across its more than 120 schemes in 36 countries after working with investment consultant Redington to develop a new analytics and scoring system.According to Redington, a key aim for the multinational company was to use the tool to provide a consistent analysis of the “retirement readiness” of its employees.It said a new digital platform had been developed that provides visualisation of how assets and costs are distributed across countries and schemes, with millions of data points collated for each pension scheme.In addition, a pension scoring system has been created that awards a score out of 100 to each of Ford’s pension schemes based on up to seven underlying factors, including investment performance, costs and charges, contribution rates and retirement outcomes. Ford has been added to Redington’s ADA fintech platform – named after Ada Lovelace, born in 1815 and described by some as one of the earliest computer programmers – as part of the launch of the new tool.“This project was a great example of thinking differently in pensions”Oliver Payne, EMEA pensions manager at FordOliver Payne, EMEA pensions manager at Ford, said: “This project was a great example of thinking differently in pensions.“The ADA system means we can move away from our traditional approach of collating and analysing pensions data on an individual project basis. We now have consistent, reliable data available for each project which means we can now be more proactive in the way we look at the costs and value of pension plans around the world.”Adam Jones, chief technology officer at Redington, said: “We are hugely excited to continue our work with Oliver and the team to explore how we can further develop the tool, and ensure Ford remains on the front foot when it comes to pensions analytics.”last_img read more

DDA addresses concerns over paid parking downtown

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisALPENA, Mich. — Last week we reported on possible paid parking and received quite a bit of feedback from residents on our Facebook page. We wanted to give the Downtown Development Authority the chance to respond to some of the criticism.One user posted, “there’s never been a problem parking in Alpena. All the empty store fronts and parking lots, why on earth is there an issue with parking?” DDA Executive Director Anne Gentry responded to this tweet saying, “So if you come here between 9 a.m. and noon, a lot of these lots are full already, a lot of the key spaces are full already because we have close to 800 employees downtown.”Many of the comments mentioned how the downtown area used to have paid parking, but removed meters after the mall started taking too much business.  Gentry says, “We’re at a point right now where people realize the value of our downtown again.” She added, business downtown is rising and parking will only become more of an issue. “Now that we’re seeing more businesses relocate to the downtown, we need to have a strategy to accommodate for cars that come with those.”The top comment on our post said, “Making people pay to park might not be the best for drawing to the downtown area,” which got 35 likes. Gentry says that paid parking could be necessary to make sure that there is enough parking for customers who would shop there. “We’re not just trying to get more money from people because we can. It’s because that money will go towards improving the experience for visitors, and employees that use our downtown every day.”The next DDA meeting is on September 3, at 3 p.m. at city hall. Citizens can address the board for five minutes each before the agenda starts. AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Alpena Downtown Development AuthorityContinue ReadingPrevious Alpena 4-H Club helps with livestock display at the county fairNext An upcoming family 5k run to support children in need this monthlast_img read more