​Sweden’s AP7 to change name and expand role in premium pension reform

first_imgThe largest of Sweden’s AP national pension funds, AP7, is to change its name and take on more duties within the country’s first-pillar defined contribution premium pension system, according to official proposals released today.In the report of the public investigation into the premium pension system, which was launched by the Minister of Social Affairs Ardalan Shekarabi at a press conference in Stockholm this morning, special investigator Mikael Westberg has set out proposals for the second phase of the system’s reform, which is due to be in place by the end of December 2023.As expected, the investigation has proposed replacing the current open funds marketplace with a procured range of fund options, which will be overseen by a principal responsible for ensuring enough freedom of choice and controlling quality.Funds are to be selected via a statutory procurement procedure, and the investigation proposes separate legislation is drawn up for this. Under the plans set out in the 860-page report, entitled “A better premium pension system SOU 2019: 44”, AP7 – which currently manages the default option in the system – is to be given more tasks and change its name to the “Authority for the Premium Pension Fund Management”.The main duties of this new agency, which will be independent of government, will be to manage the default option in the premium pension; the new procured funds marketplace; the asset management of traditional insurance and the premium pension choice architecture, according to the Ministry of Social Affairs.Other tasks within the premium pension system will, as currently, be handled by the Swedish Pensions Agency, it said.The new authority is to work towards liquidating the existing funds marketplace and replacing it with a procured version no later than December 31, 2023, the ministry said.The report – which is now out for consultation – also sets out details of how the new procured funds marketplace will work.The inquiry proposes procuring mutual funds and fund companies that are already permitted in the premium pension fund marketplace, including equity funds, mixed funds and fixed income funds that can focus on different industries and geographical areas.It also proposes allowing special funds and the foreign equivalents of such funds to be procured for the marketplace, although there should be a requirement for liquidity purposes that they are available for redemption at least once a week, it said.In the report, Westberg said the government would not be able to steer the range of funds available in the premium pension marketplace.The design of the choice architecture would very much steer the design of the fund marketplace, including the number of funds, the report said.However Westberg also said at the press conference that, given the amount of capital in the premium pension system, it was reasonable to suppose that the procured marketplace might contain between 150 and 200 funds.Currently, the marketplace contains around 500 funds, with this number having been reduced considerably at the end of last year in stage 1 of the reform from more than 800, under which all fund providers were made to re-apply for inclusion.Westberg’s report contains in-depth discussion of the level of investment risk that should exist in savings options available within the premium pension system, and the nature of the choice architecture that is to be designed and put in place to guide Swedes in deciding whether to put their savings in the default option or funds available on the marketplace – and at which risk level.last_img read more

"​Sweden’s AP7 to change name and expand role in premium pension reform"

Blizzard Bicycle Club held first race for Spring Stage Series on Sunday

first_imgUp next, is the time trial on April 18 starting at 6:30 p.m. FORT ST. JOHN, B.C. – The Blizzard Bicycle Club held their first race on Sunday for the Spring Stage Series.Nicholas Guliov managed to win a race for the fourth time in a row.Results:- Advertisement -Nick Guliov : 1:23:57Dan Webster: 1:27:58Darren Guliov : 1:34:171 lap circuitPat Ferris : 45:52Kristine Bock : 47:20Heather McCracken : 48:06Calvin McCracken : 51:36Sam Keats : 56:31Rick Newlove: after starting late had 56:07Short CourseBrett McCracken : 46:35Advertisementlast_img read more

"Blizzard Bicycle Club held first race for Spring Stage Series on Sunday"

Pfizers 20vPnC vaccine receives Breakthrough Therapy designation from FDA

first_img Source:https://www.pfizer.com/news/press-release/press-release-detail/pfizer_granted_fda_breakthrough_therapy_designation_for_20_valent_pneumococcal_conjugate_vaccine_for_the_prevention_of_invasive_disease_and_pneumonia_in_adults_aged_18_years_and_older Reviewed by Alina Shrourou, B.Sc. (Editor)Sep 20 2018Pfizer Inc. announced today that its 20-Valent Pneumococcal Conjugate Vaccine (20vPnC) candidate, PF-06482077, received Breakthrough Therapy designation from the US Food and Drug Administration (FDA) for the prevention of invasive disease and pneumonia caused by Streptococcus pneumoniae serotypes in the vaccine in adults aged 18 years and older. Pfizer expects to start Phase 3 trials in a few months.The FDA decision is informed by the results of the 20vPnC Phase 2 randomized, double-blind trial to evaluate the safety and immunogenicity of a multivalent pneumococcal conjugate vaccine in adults 60 through 64 years of age. Pfizer will seek to present and publish outcomes from this clinical trial at a future date.Related StoriesNanotechnology-based compound used to deliver hepatitis B vaccineNovel vaccine against bee sting allergy successfully testedMore effective flu vaccine begins clinical trials across the U.S.”We look forward to continuing our dialogue with the FDA so that we can accelerate the development program of the adult indication of Pfizer’s 20-valent next-generation pneumococcal vaccine candidate,” said Kathrin U. Jansen, Ph.D., Senior Vice President and Head of Vaccine Research & Development, Pfizer. “There continues to be a global health need to protect against the potentially devastating effects of invasive pneumococcal disease and pneumonia caused by additional serotypes, and we are dedicated to continue to build on our expertise in pneumococcal conjugate vaccines with this vaccine candidate.”Breakthrough Therapy Designation is designed to expedite the development and review of drugs and vaccines that are intended to treat or prevent serious conditions and preliminary clinical evidence indicates that the drug or vaccine may demonstrate substantial improvement over available therapy on a clinically significant endpoint(s). Drugs and vaccines that receive Breakthrough Therapy Designation are eligible for all features of the FDA’s Fast Track designation, which may include more frequent communication with the FDA about the drug’s development plan and eligibility for Accelerated Approval and Priority Review, if relevant criteria are met.The FDA previously granted Fast Track designation for 20vPnC in October 2017 for use in adults aged 18 years and older. The FDA’s Fast Track approach is a process designed to facilitate the development and expedite the review of new drugs and vaccines intended to treat or prevent serious conditions and address an unmet medical need.last_img read more

"Pfizers 20vPnC vaccine receives Breakthrough Therapy designation from FDA"