Government urged to ‘come clean’ about dashboard data approach [updated]

first_imgSir Steve Webb, partner at LCP and former pensions ministerIn the consultation paper, it said one of the Department for Work and Pension’s (DWP) design principles was that dashboards would initially be used for presentation purposes only, which meant that “initial dashboards cannot calculate projected pensions, meaning that providers/schemes must supply an ERI for each pension”.Webb noted that when the government first published its response to the consultation on the pensions dashboard, it said that in the first phase schemes would at maximum be asked for the information already available on annual statements or on request.“However,” he added in a blog post, “the crucial missing phrase which should have been added is ‘… and in a specified format’ and a multi-million pound bill could sit behind those innocent-sounding words.”“The pensions dashboard is a very important initiative, but the government needs to come clean about what is involved,” he said. “If it really intends the dashboard simply to be a cut-and-paste from existing statements, then the information on display will be utterly inconsistent between different pensions.“The pensions dashboard is a very important initiative, but the government needs to come clean about what is involved”Steve Webb, partner at LCP and former pensions minister“Assuming that this is not what is planned, schemes will instead have to do a huge amount of data manipulation to get data in a standardised format for the dashboard. The cost of this will be huge, especially where data is not currently well organised.”Webb noted that the Dashboard Programme team recognised the complexity of DB rights and suggested that each ‘tranche’ of ERI would be associated with a date at which the payment comes into force.However, this way of presenting data could be different to the way in which it was presented in annual statements, he said, and could further add to the cost of supplying data to the dashboard.DWP viewGuy Opperman, minister for pensions and financial inclusion, has urged pension schemes to participate in the Dashboard Programme’s data standards-related call for input, and to “be on the front foot and to get data ready as soon as possible”.”This Call for Input is another important step in bringing pensions into the digital age and ensuring that the record numbers of people saving for retirement are provided with the necessary information to make informed choices as they prepare for financial security in later life,” he wrote in July when the consultation was launched.A DWP spokesperson today said: ”The government has asked the Pensions Dashboards Programme to develop proposals on the data standards needed to best support consumers using pensions dashboards. Their call for input enables industry and consumer representative to set out their views which will be considered as the proposals on data standards for dashboards are developed.”The MaPS will develop a dashboard, but other organisations will also provide dashboards.This article was updated after publication with the addition of the DWP spokesperson comments.Looking for IPE’s latest magazine? Read the digital edition here. On the other hand, if data had to be standardised before it was sent to the dashboard, pension schemes and companies could face huge additional work costing millions of pounds, Webb argued.He cited “estimated retirement income” (ERI), a data point referred to by the Pensions Dashboard Programme, as a key example of data that would require additional data processing or calculations by pension schemes.The Dashboard Programme, set up by the Money and Pensions Service to develop the required standards, specifications and technical requirements for dashboards, addresses the ERI data point in two working papers on which it is consulting until 31 August. The UK government has been urged to provide greater clarity about its expectations for data to be supplied to the pensions dashboard, with LCP partner and former pensions minister Steve Webb warning of a potential “multi-million pound dashboard compliance bill”.According to Webb, the government has two options: pension schemes either “cut-and-paste” existing data onto the dashboard, or are required to supply data to the dashboard on new and standardised definitions.The problem with the former, according to Webb, was that data on the dashboard, an online portal displaying an individual’s pension information in one place, would be completely inconsistent.There was currently “huge” variation among both defined benefit (DB) and defined contribution schemes in the data supplied to members in statements, and many deferred DB members did not get regular statements at all, he said.last_img read more

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Walk in, walk out unit hits market with the works

first_img10/76 William Terrace, OxleyAgent Ted Hagemeijer listed the property as being fully furnished looking for offers over $419,000.The 117sq m top floor apartment has two bedrooms, two bathrooms, and a single car park.“The sale price includes all furniture and appliances as seen in the photos,” was how he described it.He listed it as having ceiling fans in both bedrooms, three reverse cycle airconditioning units, LED downlights, fly screens on all windows and doors, a dedicated laundry and additional shared storage and lift access. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Grace and Sanath Hettiarachchi and their puppy Millie at their 10/76 William Terrace, Oxley. Pic Annette DewA young couple are selling their entire apartment on a walk-in, walkout basis — you literally just have to bring your clothes, and sorry, the cute puppy is not included.Grace and Sanath Hettiarachchi are looking to sell their middle ring pad at 10/76 William Terrace, Oxley with the works.“The reason Grace and I decided to sell our property with near new furniture and appliances was to show potential buyers how the place could look with items specifically suited to the place, but also the maximum enjoyment they would get from the property,” Mr Hettiarachchi said. Brisbane’s hottest suburbs right now 10/76 William Terrace, Oxley 10/76 William Terrace, Oxleycenter_img 10/76 William Terrace, OxleyMore from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours ago“We can attest to this as we have loved living here and always received compliments from family and friends who visited. With our first property, we found it difficult to envision how the space would look with furniture so we thought we would make it easier for buyers this time round.”“This can be a little risky as your taste in furniture and appliances may not be everyone’s cup of tea but when purchasing the items, we made sure they were of high quality and modern to suit the general facade of the apartment. “We spent a lot of time and effort with this, measuring each room and finding suitable colours that would suit each particular space. We know it’s unusual with private sales but hope buyers see value in this, particularly those who want to simply move in or rent out immediately after purchase.” “This enviable address is less than a minutes’ walk to local shops and public transport, plus various parklands including Nixon Park. Parents will appreciate falling within the catchments of Corinda State School and Corinda State High School.” The suburb is one of several in Brisbane listed as being poised for price growth over the coming three years. FOLLOW US ON FACEBOOK MORE: What overseas biuyers wantlast_img read more

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Two students injured in off-campus shooting

first_imgTwo USC students were shot early Sunday morning outside of a party at an apartment complex at 1241 West 37th Place.A male undergraduate student was shot in the chest and a female graduate student was shot in the hand and suffered a bloody finger, Sgt. Mark Green of the Los Angeles Police Department’s Southwest division told City News Service.The shooting occurred when a resident of the apartment complex accused the suspect of having stolen a pair of expensive headphones from him. The victims attempted to help settle the altercation between the resident and the suspect, according to Gueston Cordae Smith, a sophomore majoring in architecture who attended the party.“We were dancing and having a good time, and all of a sudden the victim turned on the lights and was acting really angry,” Gueston Cordae Smith said. “[The resident] said that his headphones were stolen … and then walked up to the shooter.”In response to the accusation, the suspect pulled out a handgun and fired multiple rounds at the victims, according to Sgt. Will Smith of LAPD’s Southwest division.“An argument came up and, not even a minute later, the [shooter] pulled out a gun,” Gueston Cordae Smith said. “I saw that gun in his hand, so I grabbed two of the girls who were with me and just ran out. As soon as I was running down the hall, I heard a gunshot.”The suspect is a black male between the ages of 18 and 25, Sgt. Smith said. He was shirtless and wearing blue jeans when he fled the scene, according to CNS.Both victims were immediately taken to California Hospital Medical Center, where the undergraduate student was listed in critical but stable condition, Sgt. Smith said. The male victim remains in the intensive care unit at California Hospital Medical Center after having undergone surgery earlier Sunday, Capt. Melissa Zak of LAPD’s Southwest division said at a press conference.The graduate student is in “OK” condition, according to the Dept. of Public Safety. She is scheduled to go under surgery Sunday night, Zak said.Police interviewed witnesses at the party and have begun searching for the suspect. Police performed a comprehensive search of the premises Sunday afternoon.An investigation into the shooting includes members of LAPD, DPS, the FBI and members of the South Bureau’s Criminal Gang/Homicide Division, according to Sgt. Smith.Although the handgun has not yet been found, LAPD is currently following several solid leads, Zak said.Sgt. Smith labeled the incident as isolated and said it poses no threat to the USC community.Annenberg Television News has reaction from residents of the apartment complex. Rachel Bracker contributed to this report.last_img read more

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