Irish regulator reiterates support for ‘economies of scale’ in DC

first_img“There are also efficiencies in terms of good communications, for instance, and in extracting good terms from investment managers and administrators“And from a supervisory point of view, it is much easier for a regulator to oversee one hundred schemes than 100,000 schemes.”The Authority has previously hinted the future shape of the DC landscape, last year launching a consultation focused on minimum quality standards.It also said that it would like to ensure that trustees could not be barred, by the scheme’s trust deed, from tendering for asset management services – a likely attempt to prevent the launch of master trusts, backed by an asset manager as sole provider.Despite the issue not being mentioned in a recent summary of consultation responses, the Authority still backed the proposal, Kennedy said.“We would prefer a situation where the trustees of a pension scheme have freedom to choose an asset manager, to hire and fire an asset manager – just like they should have the freedom to hire and fire the administrator.”He did not seem surprised that the recent summary of consultation responses had heavily focused on the role of trustees.“I think people were right to recognise that we are putting the trustees, and the responsibility of the trustees and the ability of the trustees at the heart of what we want to achieve.” The Pensions Authority has reiterated its support for consolidation in the Irish defined contribution (DC) market, stressing the benefits of the economies of scale.Brendan Kennedy, formerly chief executive of the Pensions Board and now the pensions regulator at the rebranded Authority, noted that there were “efficiencies in the economies of scale” that could be achieved by reducing the number of DC schemes to around one hundred.Kennedy has previously said that small-scale schemes should be “discouraged” and said that it was “difficult to justify” the continued existence of any more than 100 funds.“Clearly, there are efficiencies in economies of scale,” Kennedy told IPE, noting both the advantages of scale to administration of funds, but also the benefits of fewer schemes to the expertise available to funds.last_img read more

Ferndale’s hot start leads to win over Panthers

first_imgLandon Gomes took the opening kickoff 70 yards for a touchdown and the Ferndale Wildcats never looked back as they beat the McKinleyville Panthers 21-14 Friday night in McKinleyville.Gomes took the ball and found a hole along the right sideline and a block by Kyler Becksted put him in the clear to give Ferndale the early advantage. A missed point after attempt put the Wildcats ahead 6-0.“I think it was huge psychologically,” Ferndale head coach Clint McClurg said. “It’s huge to know you’ll be …last_img read more

Coming Soon: Desktops Hosted On The Cloud, Usable Anywhere

first_img3 Areas of Your Business that Need Tech Now Massive Non-Desk Workforce is an Opportunity fo… Cognitive Automation is the Immediate Future of… brian proffitt IT + Project Management: A Love Affaircenter_img Tags:#cloud computing Related Posts A new video technology quietly announced late last week could mark a landmark change in how apps are deployed on PCs, tablets and smartphones for years to come – and also have big ramifications on how companies like Apple do business.You wouldn’t think that the technology launched by the Mozilla Foundation and graphic-rendering vendor Otoy on Friday would be all that big a deal. After all, the software, which is known as a codec, was originally designed to allow for the playback of videos on HTML5 pages within a browser without plug-ins.That alone is pretty cool, from a consumer’s point of view. There’s are still videos out there, such as those encoded with the H.264 format, that need a special plug-in to be viewed, thanks to the patents tied to the H.264 specification. Live TV and HD video can be viewed with any HTML5 browser that can support WebGL (hold that thought).But the other thing the new codec, known as ORBX.js, features is much, much more significant: it also enables steaming of desktop applications. An application (say, Microsoft Office) could be hosted on a company’s server and then used by any employee who logs in to the application. It would not matter what operating system they were using (Windows, OS X or Linux) or even what platform (phone, tablet or desktop), because the browser would be the only thing that matters.“This is not just remote desktop tech, or X11 reborn via JavaScript],” [blogged Mozilla Foundation CTO Brendan Eich, “Many local/remote hybrid computation schemes are at hand today, e.g., a game can do near-field computing in the browser on a beefy client while offloading lower [level of detail] work to the [game processing unit] cloud.”When Cloud Becomes The PlatformUsing streaming video to deploy remote desktops is not new, of course, this is pretty much the way Logmein does it with their remote desktop technology. But as good as Logmein and other RD vendors are, they still use a dedicated client and the speed of the remote setup can be hampered by the power of the source desktop as well as the limitations of bandwidth.If the application were to be hosted in the cloud with more resources, as Eich suggests, then only bandwidth would become a limit to application performance. In fact, if ORBX.js performs as promised, you won’t even need a “beefy” client, as Eich says we have now – nearly all of the processing work will be done in the cloud and streamed to the waiting browser client.Streaming apps, if this technology works, would then represent a big change for end users and even a potential cost savings – if the bulk of the processing power is situated in the cloud, then hardware requirements for end-user devices can stay where they are or even be lowered.Another big change – if all you need is a decent screen and an interface to connect to applications, you could host your entire work/home environment in the cloud and access it from any compatible device at any time. It could be a full version on the desktop or laptop, and perhaps a scaled-down version on your tablet or smartphone, but the apps and your data would always be there, on any of your machines.Walled Garden? What Walled Garden?If applications can be delivered effectively through this kind of enhanced video streaming, currently that also puts Apple and Microsoft at a strong disadvantage against competitors like Google and Blackberry, especially in the mobile space.Recall the requirements for the JavaScript-based ORBX.js: any HTML5 browser that can support WebGL.As it stands right now, the Safari browser on the iOS mobile platform does not support WebGL at all (except for iAd developers) – and on OS X, Safari only offers partial support for the standard (if the user has up-to-date video drivers). Internet Explorer does not support WebGL at all, either.Android is a little tricker: neither the native Android browser or Chrome for Android support WebGL, but Firefox for Android does. As of BlackBerry 10, the BlackBerry browser will support WebGL, too.This would mean that Android and BlackBerry users could run cloud-based apps on their devices right now, while Windows Phone, Windows 8, Windows RT and iOS users would be out of luck.That’s probably no accident, either, since any application that streams in through browser is one the operating system vendor can’t monetize. In other words, Apple and Microsoft won’t get their app store cut from apps that are streamed.That this is a deliberate choice on the part of Apple and Microsoft seems likely. Even Google has yet to support WebGL on its mobile-device browsers, possibly for the same reasons.But given that Google’s Chrome browser is all in for WebGL, Google could still reap the benefits of cloud-based applications soon. If that proves a success, or if BlackBerry’s WebGL bet pays off, then it won’t be a long wait for the Android browsers to come around to WebGL.At which point, it will be anyone’s guess if Microsoft and Apple will jump on board, too. There are already rumors that Internet Explorer 11 will support WebGL, so Microsoft may be on its way to enabling cloud-based streaming apps.Cloud applications will never supplant native apps – connectivity issues and security concerns will make sure of that – but it’s a future that looks pretty cool for users who want to use their applications and data any where, any time.Image courtesy of Shutterstock.last_img read more

Mukran Port to Get Fully Automated Bunker Station

first_imgzoomRuegen Island. Illustration; Source: Pixabay under CC0 Creative Commons license Germany’s Mukran Port and energy supplier Hoyer have revealed plans to introduce a fully automated bunker station for service vessels at the port. As informed, a tank facility for marine gas oil (MGO) will be built by the end of 2019. The construction is scheduled to begin at berth 1, in the southern part of the Mukran Port, in September.The bunker station will be available around the clock for bunkering of vessels which operate in the Baltic Sea.Specifically, the refueling process at berth 1 will be automated and made possible by card.According to Mukran Port and Hoyer, the shipping industry in general, as well as offshore wind farm supply vessels and tugs would benefit from the new bunker station.It will be possible to refuel ships at night without additional waiting time. The new station will replace the existing land-side mobile refueling from 2020 and will be equipped with a storage chamber with a capacity of 100 cbm.“Thanks to the high shipping demand in Mukran, we will strengthen our refueling network in Germany and in the Baltic Sea Region with this investment,” Thomas Hoyer, managing partner of Wilhelm Hoyer, explained, adding that the port and the energy supplier will also deepen their long-term cooperation.Located on Germany’s island of Rügen, the deepwater port encompasses ferry, rail, multipurpose and offshore terminals on a total area of around 430 hectares. World Maritime News StaffRelated: First-Ever LNG Bunkering Carried Out at Mukran Port in Germanylast_img read more