Measuring multidimensional adequacy of pension systems

The paper presents a multidimensional approach to the adequacy of the pension system, recognising it as the most relevant in comparative analyses of pension systems, as well as more authoritative than a one-dimensional approach based exclusively on pensioners’ income calculated on the basis of the replacement rate. Adequacy of the pension system can be also understood to mean the effectiveness of pension system when assessing its ability to realize income objectives. Starting from the micro- and macro functions of the pension system, OMC and World Bank objectives in terms of pension adequacy, and taking into account the indicators used by the European Commission to monitor the attainment of OMC objectives, the paper presents the overall concept of multidimensional adequacy of a pension system. Three dimensions of adequacy are defined: income, poverty, and differentiation of pensioners’ material situation by gender. Next, sub-indicators measuring the individual dimensions of adequacy are proposed, along with an aggregation procedure based on the tools of multidimensional statistical analysis. First the sub-indicators are aggregated into synthetic indicators for individual dimensions, and finally the synthetic indicators for individual dimensions are aggregated into a single synthetic indicator of the adequacy of the pension system (APS). Based on the proposed procedure, the adequacy of the pensions systems of 26 European countries is measured, and the quality of this measurement is assessed.

http://bit.ly/KWdyGF

 By Filip Chybalski, Pensions Institute

Top 10 Apps for 2012

Right here I'm going to countdown the top 10 apps I've seen and that have graced my new iPhone!

10. Bus Checker
Bus Checker enables the user to obtain a minute by minute update on London Busses at each stop and ensure they know when their bus is due!
9. Sky Go
Sky Go is great for those with Sky television at home who don't want to miss the football or cricket when out and about. Each Sky television subscription receives 2 Sky Go accounts so why not install on your iPhone and your office computer?!
8. TubeMap
The easiest way to find your way around London.
7. Instagram
This app can be used to document your life through pictures and build an online photo album of your favourite snaps. Also has some great but simple editing features.
6. Unblock Me
Hundreds of puzzles that will pass the time and rack your brains!
5. Voucher Cloud
For a cheap lunch in the city or for cheap theatre tickets Voucher Cloud can provide you with many discount codes and can even by used by location to see what offers are avaiable to you locally.
4. ESPN Goals
For all Premier League updates and goal videos before Match of The Day has them!
3. Around Me
This app allows the user to find the closest of everything around them, including supermarkets, cash machines and bars and restaurants.
2. Halo
This nifty little app can order a cab for you and let you know how long it will be!
1. Temple Run
Quite simply the most addictive game of the moment. Run away from monsters without falling, tripping or running into trees! The highest score I've seen so far is in the 13,000,000 region and I'm still a good 6-7,000,000 off of that! More practise needed!

Compact Digital Camera Reviews

Canon PowerShot A800- £51.39- http://amzn.to/wKAT6F

With such a low price Canon could be forgiven for holding back on a lot of features, but this doesn’t seem the case. The model has a 3.3x optical zoom and a 10megapixel lens. The A800 isn’t the most aesthetically pleasing camera to look at with a wedge design.

The quality of the LCD display screen is quite poor and this is the main gripe with the model. This screen struggles is strong lights and leaves the user squinting to ensure an image in lined up correctly. Image quality is rather impressive when considering the price. With images remaining relatively sharp with a good contrast. The user interface is easy to use and is common with most other digital cameras.

3/5

Nikon COOLPIX S6150- £104.29- http://amzn.to/xwyin1

From the front, the Nikon Coolpix S6150 doesn't look anything special. It's a simple box-shaped camera with a slightly bulging lens barrel to house the 7x optical zoom. The slim flash sits just to the top right of the lens as you face it which could get fingers slipping over it while taking a picture.

On the back, the touch-screen has managed to eradicate all but three buttons which are located to the right side. A small thumb pad is just above to rest it while you're shooting

For the price, the build of the Nikon Coolpix S6150 is decent enough and there's enough features to keep the happy snapper going. The stuff normally found in the main menu has been stripped right back and that's not such a bad thing. It makes it more appealing to the consumer that doesn't care about the ins and outs of a camera.

Picture quality is good on the S6150. I found that primary colours are precise and not over saturated.

4/5

Samsung WB750- £193.99- http://amzn.to/wL7V0W

First impressions of the Samsung WB750 are of a more refined and slimmer design than previous WB-models, with a depth of 25mm and weighing less than 200g. Constructed out of robust plastic in a sober all-black, the WB750 is small and light enough to carry in a trouser pocket or small camera bag.

It has 18x optical zoom, very few compacts can beat that. It has full manual options for the more advanced photographers and Smart Auto which detects the best settings for the least advanced users. It also has in camera photo editing and a number of fun features such as photo templates and creative movie maker. And one of its most impressive features is the ability to take pictures whilst making a video.

Netbook Reviews

Netbooks are the small, low cost version of the laptop. But are they in fact the genius younger brother that is going to take over from the Laptop? It seems that every computer manufacturer has launched their own version of a Netbook. This has immediately made it a tough decision on which one to pick. Luckily for you I'm here with the lowdown on some of the best in the market.
To read the reviews click here

The 45 Most Powerful Images Of 2011

http://www.buzzfeed.com/mjs538/the-most-powerful-photos-of-2011

Generation Y- Impact on Retirement Planning 2025

Jack Whitehall, Hammersmith Apollo, 8th November- Review

By Sam Richardson

Some of the times I see this young comedian on TV I instantly have to switch over. Others, such as his incisive acting debut as public schoolboy JP in Channel 4’s ‘Fresh Meat’, I find him genuinely funny. I entered this show in a positive manner and wished that Whitehall could prove to me that he really is one of the nations top young comics.

The act details his trials and tribulations whilst growing up. These stories move from his dismay at fast food restaurants and reality TV right through to his old fashioned and un-loving father and Robin Hood obsession.

Hailing from just across Hammersmith Bridge in Barnes, Whitehall described his time at school- where fellow pupils included a certain Kate Middleton and Robert Pattinson. One of the family story highlights revolves around his mothers obsession over Kate Middleton and her disappointment that he didn’t manage to marry her. He also tackles the Middleton “commoner” tag by neatly describing his former school as making “Midsomer Murders look like The Wire”

After a short interval Whitehall came back with a rousing second half performance that included stories about his aforementioned Robin Hood obsession and his Father’s hatred towards his son wearing tights and roller skates. Another story centered on his creaky bed at his parent’s house that has a line about Anne Frank’s parents receives an “oooooooohhhh” from the crowd as opposed to a laugh- but shows that Whitehall is not afraid to offend to gain respect.

The most impressive thing about this show was not necessarily the updated jokes but more the method in which they were told. Long gone is the shouting and 'look at me' tone of voice. Whitehall still of course has his unashamedly middle class accent but he seems far more relaxed about his material and knows that the audience will love it.

After adding acting to his repertoire and making a leap in his stand-up, Jack Whitehall is a name that will be all over our TV screens and over Theatre doors for a long time. And this is one full time fan who is looking forward to it.

Are your financial models ready for future IFRS?

As part of Solvency II one major area of work has been to prepare financial cash flow models that deliver results in accordance with the Directive. But companies also need to prepare models for the coming Phase II International Financial Reporting Standard (IFRS) for insurance contracts says Alastair Black.
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