Nina Arianda on Chilling with Pacino & Getting Steamy with Michael Esper in Vienna

first_img This is your first play since winning the Tony. What’s your biggest memory of that night? Being very hot [laughs]. I honestly feel like I blacked out once I went on stage. I guess my biggest memory was having my parents there with me to share the moment. And, obviously, meeting [presenter] Christopher Plummer was pretty exciting. On an episode of Show People, you chatted about the possibility of doing a musical. Have you given any more thought to that? All the time! I love a good musical. How about personally? Are your parents trying to get you married? Of course! I think all parents try to get their kids married. Luckily, they also get my career. But sure—I would love that. I try not to look too far ahead, but I’d love to actively pursue my job and actively pursue a personal life. That’s my goal: to find that delicate balance. Nina Arianda How do you see career developing in the next five to 10 years? Hopefully forward, and hopefully in New York, near my family. Forward and active—that’s how I would like my career to be. Star Files Since winning the 2012 Best Actress Tony for her sexy star turn in Venus in Fur, Nina Arianda has jumped from film to film, sharing the screen with Toni Collette in Lucky Them (debuting April 21 at the Tribeca Film Festival) and playing a crack-era gun moll from Queens with a talent for loading an Uzi in the just-released comedy Rob the Mob. On stage, Arianda is currently living in a very different era, post-World War I Austria, in Manhattan Theatre Club’s off-Broadway premiere of Tales From Red Vienna. In David Grimm’s Ibsen-esque drama, she stars as Helena, a young widow who turns to prostitution to maintain her place in society. How does this chameleon shift from comedy to tragedy, stage to screen and back? One step at a time, she tells Broadway.com. Is the Janis Joplin biopic you’ve been announced to star in still happening? I hope so. It’s a monster process and has taken a lot of time. Everyone is very keen to make it as right as possible. You’ve been called Broadway’s “It Girl” and compared to Meryl Streep and Judy Holliday. Does that create pressure? I think so, and I think that’s why I don’t read anything [in the press]. I live under a rock. What going on with The Humbling, a movie you did with Al Pacino? The filming is completed. Without giving anything away, I play a close friend of his. It was above and beyond the finest master class anybody could ask for, and an incredible honor even to be allowed to watch Mr. Pacino and [director] Barry Levinson work. I’m still processing that experience because it was life changing. As in Venus in Fur, you have some intense sexual scenes in this play. What’s the key to feeling comfortable in front of an audience? The most important thing is to have a partner you trust. The fates smiled on me with Michael Esper because he’s an extraordinary person to be on stage with, and a gentleman to boot. The second thing is to remember that it’s not about you, it’s about the character. How did it feel to get a glowing review in The New York Times for Rob the Mob, your first starring film role? I don’t read reviews, but that’s great to hear. I haven’t even seen the movie yet on the big screen. I had two shows on that Sunday [of the premiere], but I look forward to seeing it. Your program bio thanks your parents for being “supportive, loving and good looking.” What’s the most important lesson you learned from them? To focus and stay on track. I don’t know if it’s a lesson, but I’m incredibly grateful that I was given what every artist needs—space and support—throughout my life. They continue to do that for me, and that’s why they are so attractive, loving and perfect [laughs]. View Comments Let’s talk about Tales From Red Vienna first. What drew you to the play? The theme of survival is fascinating to me. I had grandparents who lived through that time, and I grew up hearing stories of being at rock bottom in a war-torn situation. It’s just a huge challenge to take on that kind of despair and grief. Not to sound corny, but [Helena is] incredibly brave. It takes a lot of courage to live in the unknown, to say, “I don’t know what I am going to do, but I have to do something.” How about Sweet Charity? Have we hit the 10-year mark [since the last production]? Isn’t that the rule on Broadway? You’ve also got Lucky Them coming up with Toni Collette—and you’re both on stage in New York now. [Collette stars in The Realistic Joneses on Broadway.] I know! It’s so exciting. I played her sister on an episode of Hostages, and I play her best friend in this movie. It’s a dramedy, and the cast is extraordinary: Toni, Thomas Haden Church and Oliver Platt. See Nina Arianda in Manhattan Theatre Club’s Tales From Red Vienna at New York City Center Stage I. Close! [Christina Applegate played the title role in 2005.] Any shows in mind? I love Ain’t Misbehavin’, but that’s wishful thinking. I love Nine. I love the wife [Luisa]. “Be On Your Own” is one of my favorite songs. Yeah, let’s do a musical! Why not? You have so much going on right now, with two new movies and a demanding stage role. Is it hard to keep everything straight? I’m just keeping my head down and trying to stay afloat [laughs]. You’re an only child who started auditioning when you were a kid. Were your mom and dad stage parents? Oh, no. If anything, I was the stage parent, I switched roles somehow! When I was 17, my parents were in Germany because of my father’s job [in the Defense Department] and I came back to New York [to study acting]. It was tough, but my parents knew that I was pursuing something I loved.last_img read more

Nussle: Retailers distract from real data protection problem

first_imgCUNA President/CEO Jim Nussle issued a strong statement Wednesday rebutting merchants’ most recent talking points on data breach issues. Nussle said the retailers mean only to distract attention from the true problem in data security.“The retailers are using a nuance in talking points to distract from the real problem: retailers are not protecting consumers’ data, face no legal requirement to do so and get to watch as others fix the problems they create. The American public loses when the folks left holding the bag for merchant data breaches are the card-issuing credit unions and banks,” Nussle declared.“Consumers will benefit if the retailers would support a strong federal data protection law that codifies a requirement that those who accept cards for payment follow the same security standards as those who issue cards for payment,” the CUNA leader said. He pointed out that the merchants are suddenly trying to divert attention away from that fact by making the discussion about reimbursements.Nussle continued, “We’re 15 months from the Target breach yet credit unions have received nothing in terms of reimbursement. The same goes for the Home Depot breach. The merchants responsible for the largest breaches over the last two years have paid absolutely nothing while credit unions have had to pony up at least $90 million to cover the costs for merchant data breaches. continue reading » 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Upsides of bank sales to credit unions

first_imgNCUA Chairman Rodney Hood continue reading » In December, I testified before the House Financial Services Committee in my capacity as a financial industry regulator.During questioning, several committee members noted the trend, recently reported in the media, of credit unions “acquiring” banks. I was glad to take those questions, as I welcomed the opportunity to clarify this issue.It is important to clear up the most common misperception of these transactions. When speaking of credit unions “acquiring” banks, these credit unions are actually purchasing bank assets and certain liabilities in market-based transactions. These purchases could include loans and deposits, but credit unions could not own bank stock, for example.Some argue that these transactions threaten the original mission of credit unions, and because of this, credit unions no longer warrant their tax exemption. However, while credit unions are exempt from federal income taxes, they may still be subject to payroll taxes, property taxes and sales taxes.center_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Do This: Long Island Concert & Events April 28–May 4

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York FilterFrom “the Rock and Roll Capital of the World,” comes this Cleveland-based industrial rock quintet who will play their ’90s hits, including “Hey Man Nice Shot” and “Take a Picture,” while they tour to promote their seventh studio album, Crazy Eyes, which dropped earlier this month. Warming up the crowd will be Orgy, Vampires Everywhere, Death Valley High and Lubricoma. Revolution Bar and Music Hall, 140 Merrick Rd., Amityville. revolutionli.com $25. 6:30 p.m. April 28.KansasWith more than 40 years of revolutionary rock n’ roll success, Kansas stores more hardware on their wall than Home Depot with eight gold albums, three sextuple-Platinum albums, one Platinum live album and a million-selling gold single. Their inescapable hits like “Dust in the Wind” and “Carry On Wayward Son” blare through radio waves daily, solidifying Kansas’ undeniable staying power. Opening the show is The Edgar Winter Band, and he’s no slouch, either. Together, you can plan on rocking your socks off. NYCB Theatre at Westbury, 960 Brush Hollow Rd., Westbury. venue.thetheatreatwestbury.com $39.50-$79.50. 8 p.m. April 28.Gnarly KarmaHailing from Huntington is this up-and-coming lyrical jam band playing DMB-esque ditties. Opening the show will be Nectar & The Gray. The Space at Westbury, 250 Post Ave., Westbury. thespaceatwestbury.com $10. 8 p.m. April 28.Kissed By a PrinceDawnette Darden, Marvin Joshua, Mike Maz, Kevin Santacruz and Joe Haines take the stage for an evening celebrating the life and music of the late great Prince. The rain will be plainly purple, whether inside or out. The Stephen Talkhouse, 161 Main St., Amagansett. stephentalkhouse.com $10. 8 p.m. April 28.The CongressmanExploring the meaning of patriotism is this independent film written and co-directed by Robert Mrazek, a former Long Island Congressman. It takes one to know one, doesn’t it? He’s crafted an inspiring story about a group of people living in an island off the coast of Maine who band together to do what must be done to save their way of life. Preceding the screening will be a Q&A with Mrazek and Treat Williams, who stars as the Representative spiraling out of control in the film until he finds his life’s purpose. Cinema Arts Centre, 423 Park Ave., Huntington. cinemaartscentre.org $15 members, $20 public. 7 p.m. April 29.Robby KriegerOne of Rolling Stone‘s 100 Greatest Guitarists of All Time, songwriter and guitar-maestro Robby Krieger comes to Long Island to awe, entertain and strum. This former Doors musician is credited with co-writing some of the most iconic tunes of all time, including “Light My Fire,” “Love Me Two Times” and “Love Her Madly.” Break on through to the Paramount to catch this amazing performance.  Opening the show is Mountain’s Leslie West, who makes a Gibson look like a ukelele in his hands when he bends the strings. The Paramount, 370 New York Ave., Huntington. paramountny.com $19.50-$59.50. 8 p.m. April 29.Martin ShortMoviegoers of a certain age might recall this Canadian comic and SNL alum’s role as Ned Nederlander in the 1986 classic, Three Amigos! Members of the Netflix generation may recognize him from his many cameos, including one of his latest as Dr. Grant in Unbreakable Kimmy Schmidt. If fans are lucky, Jiminy Glick will also make an appearance. Be warned: you may bust a gut because you’ll be laughing so hard it will hurt. NYCB Theatre at Westbury, 960 Brush Hollow Rd., Westbury. venue.thetheatreatwestbury.com $54.50-$84.50. 8 p.m. April 29.Gospel Health FestCome to see and hear some of the nation’s best gospel choirs, dance ministries and musical groups. Stay for health testimonials, screenings and pressentations. Refreshments will be served. Suffolk County Community College, Ammerman Campus, 533 College Rd., Selden. suffolkcountyny.gov Free. 3 p.m. April 30.Howard MasseyYou want to know what goes on behind stage? How about an inside look at the exploits of the greatest living band in the world? This journalist and author will be speaking and signing copies of his new book, Roadie, a tale of rock and roll redemption inspired by The Rolling Stones. Book Revue, 313 New York Ave., Huntington. bookrevue.com Price of book. 7 p.m. April 30.Kool & the GangThis Jersey City-based R&B group with disco roots will take fans on a trip down memory lane when they belt out hits such as “Jungle Boogie,” “Funky Stuff,” “Celebration” and “Hollywood Swinging.” Supporting acts include Morris Day and The Time. NYCB Theatre at Westbury, 960 Brush Hollow Rd., Westbury. venue.thetheatreatwestbury.com $49.50-$99.50. 8 p.m. April 30.Slam AllenMasterfully blending blues and soul is this upstate Monticello-based saltan of the six string who channels the spirits of B.B. King, Otis Redding and James Brown. That’s a soulfoul combination that can’t be beat. Saturday night will be rocking with spirit. Treme Blues and Jazz Club, 553 Main St., Islip. tremeislip.com $20. 8 p.m. April 30.Chubby CheckerHis ’60s classics topped the Billboard charts and got the nation on the dance floor. And even today, they inspire jubilant gyrations whenever they’re played. Twist your hips and shake it, don’t break it, as you join a new generation of fans of the great Chubby Checker. All you got to do is move your feet, and the rest will follow. Suffolk Theater, 118 East Main St., Riverhead. suffolktheater.com $60. 8 p.m. April 30.Long Island MarathonFestivities kick off Friday, April 29, with a fitness expo at the Mitchell Athletic Complex in a the weekend-long run-up to Sunday’s 26-mile race, half-marathon and 10k. A 5k, 1-mile run and Kids Fun Run are scheduled for Saturday and a festival follows the marathon on Sunday. Charles Lindbergh Blvd., Uniondale. run-li.com 8 a.m. May 1.Christine ReillyThis talented author will discuss and sign copies of her debut novel, Sunday’s on the Phone to Monday, billed as a music-infused family saga, whose title is a nod to the Beatles’ “Lady Madonna.” Glen Cove Public Library, 246 Glen St., Glen Cove. Free. 1 p.m. May 1.Under the StreetlampBringing classic rock ‘n’ roll and Doo-Wop songs to life with their lively performances is this national touring quartet taking audiences back to the ’50s, ’60s and ’70s. NYCB Theatre at Westbury, 960 Brush Hollow Rd., Westbury. venue.thetheatreatwestbury.com  $39.50-$54.50. 7 p.m. May 1.The First GraderThis inspiring documentary tells the true story of an 84-year-old Kenyan villager and ex Mau Mau freedom fighter who fights for his right to go to school for the first time to get the education he could never afford. Larry Hohler, founder of Hope Children’s Home, will discuss the film. Handmade crafts from Kenya will be available for purchase. Cinema Arts Centre, 423 Park Ave., Huntington. cinemaartscentre.org $10 members, $15 public. 7 p.m. May 4.last_img read more

Country Pointe Meadows in Yaphank Allows Boomers To Retire in Style

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York After putting his three kids through college, credit card industry veteran Mike Turano no longer had a need for his big custom-built Stony Brook home, so he started eyeing a move down south.But before he and his wife packed up and left New York, they stumbled upon Country Pointe Meadows in Yaphank, a luxurious 400-home condominium lifestyle community for adults aged 55-plus. A year after becoming its first resident last summer, he couldn’t be happier that they decided to stay close to their kids on LI — and are doing so in style.“It’s very upscale,” he says. “For what you’re paying, I think this is total value. One hundred percent.”Pricing ranges from the upper $400,000s to the upper $600,000s with real estate taxes as low as $3,900 — well under the $21,000 Turano was paying in property taxes in his previous home — at Country Pointe Meadows in Yaphank. It’s the for-sale, home-ownership component of The Boulevard, a 322-acre smart growth mixed-used development that will include retail stores, a park, dog park, hotel, baseball field, track, rental apartments, and assisted-living facility.“It’s a great place to meet your neighbors and spend time with your family,” Turano says. “Knowing what Long Island costs to live, this really kept me here and it really helped us out and allowed us to continue a beautiful lifestyle.”The development is being built in three phases, with phase one completed and nearly sold out. Phase two is currently underway and is a third has been sold, for a combined 65 units bought so far, with more in contract. Phase three starts in 2021.Country Pointe Meadows in Yaphank community entrance. (Photo Credit Beechwood Homes, Rise Media)Conveniently located right off exit 68 on the Long Island Expressway, it’s less than an hour’s drive from Nassau County and near the gateway to the East End’s farms, vineyards, golfing, shopping, and waterfront  — assuming residents can tear themselves away from their beautiful abodes.“The level of finish and quality of the home, our open floor plan, the wood floors, the marble counter tops … There’s nothing like it in Suffolk right now in terms of retirement communities being built,” says Steven Dubb, a principal of the Jericho-based Beechwood Organization, Long Island’s largest homebuilder. “The condo lifestyle is what our residents are looking for.”At the heart of the community is an active 11,000-square-foot clubhouse boasting a ballroom, oversized gym, bar, barbecue area, firepits, patio, pool, and all the amenities of resort-style living.“It feels like you’re on a vacation,” says Maria Pini — like Turano, an empty nester — who moved to the community from Woodbury with her husband. “It’s really that kind of atmosphere. There’s no pressure.”Of course, what makes a community great is not just top-notch houses with high-end creature comforts, but also quality people.“We now have more friends than we could have possibly met anywhere else,” Turano says. “And they’re all just like us — the same exact story. They’re here on Long Island, they had the big house, the kids moved on, and this was their opportunity to stay on Long Island because the taxes are reasonable and the maintenance fees are reasonable. Everyone’s loving it here and I honestly can’t say a bad thing about it.”The Beechwood Organization is hosting an open house at Country Pointe Meadows from 1 p.m. to 4 p.m. on Saturday, Oct. 12. The community is located at 1 Grace Hall Lane, Yaphank. For more information, visit beechwoodhomes.comThe Elgin Home living room at Country Pointe Meadows in Yaphank. (Photo Credit Beechwood Homes, Rise Media)last_img read more

Kim Kardashian Feels Like an ‘Awful Mom’ Quarantining With 4 Kids

first_img“Kanye’s still quarantined in our master bedroom. I think it’s just really overwhelming because every last task is my responsibility and it’s really hard to juggle it all with four kids,” the Skims creator said during a KUWTK episode last month. “This is the first time I’ve really had to do everything myself.”During the same episode, Khloé Kardashian revealed she was also battling the coronavirus. Tristan Thompson cared for her and their 2-year-old daughter, True, while the Strong Looks Better Naked author, 36, stayed in her room.Keeping Up With the Kardashians airs on E! Thursdays at 8 p.m. ET.Listen to Us Weekly’s Hot Hollywood as each week the editors of Us break down the hottest entertainment news stories! The makeup mogul added that she was having “fun” with her children, saying, “I actually love that time because we do travel so much in our regular world that this has been [great]. I think the family bonding part of it all, [we’re] going on walks outside [and we’ve] watched every single movie you could possibly imagine.”Much of the Los Angeles native’s struggles came from the fact that her husband, 43, tested positive with COVID-19, leaving her alone to care for him and the kids.- Advertisement – The reality star, who also shares North, 7, Saint, 4, and Psalm, 17 months, with Kanye West, felt relieved after venting to Haqq, 37. (The Dash Dolls alum is the mother of son Christian, 10, and daughter Celine, 6, with a third little one on the way.)“With Khadijah, I see how frustrated she is so at least it makes me feel normal again, that other people are going through the exact same thing,” Kardashian said in a confessional. “I definitely feel like I just needed that boost. So I think I was definitely being too hard on myself.”In April, the Selfish author spoke about ruling out baby No. 5 after living in lockdown with her little ones. “Being at home with four kids, if I ever though for a minute that I wanted another one, that is out the door,” the KKW Beauty creator explained during a virtual appearance on The View. “It’s really tough.”- Advertisement – – Advertisement – Openly overwhelmed. Kim Kardashian turned to Khadijah Haqq to discuss her parenting struggles amid the coronavirus pandemic.“I, like, literally hear Chicago crying in the other room, and I don’t care,” the Keeping Up With the Kardashians star, 40, said of her 2-year-old in the Thursday, November 5, episode of the E! show. “I literally am feeling like an awful mom just letting her cry in the other room and figuring it out. It’s just like, I can’t.”Kim Kardashian Feels Like an Awful Mom While Quarantining With Her 4 Kids Amid PandemicKim Kardashian David Buchan/Variety/Shutterstock- Advertisement –last_img read more

The Bloomsbury set

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

India to provide $266 billion to boost pandemic-hit economy

first_imgPrime Minister Narendra Modi said on Tuesday that India would provide 20 trillion rupees ($266 billion) in fiscal and monetary measures to support an economy battered by a sweeping weeks-long lockdown to fight the novel coronavirus.India has more than 70,000 cases among its 1.3 billion population and is set to surpass China, the origin of the outbreak, within a week. Modi said strict stay-at-home orders would be extended beyond May 17 with a new set of rules.In an address to the nation, he said the package was equivalent to 10% of India’s gross domestic product, and was aimed at the multitudes out of work and the businesses reeling under the prolonged shutdown. Topics : “Headline announcement looks positive. Would include around 6.5 trillion rupees already done by RBI [Reserve Bank of India] and the first package. So – additional is 13.5 trillion rupees,” said Sandip Sabharwal, a Mumbai-based fund manager.”It doesn’t match the gross borrowing details of the government so we need to look at details. Headline number should, however, excite the markets near-term.”Last week, India increased its borrowing program for the year to 12 trillion rupees from 7.8 trillion to fund some of the expenses. Economy slowing, spending rising Even before the pandemic, India’s growth was slowing and public finances were strained because of poor tax collection and higher spending.Last month, the ratings agency Fitch said India’s sovereign rating could come under pressure if its fiscal outlook deteriorates further as the government tries to tackle the coronavirus crisis.Some commentators said it was too early to say how effective the package would prove to be. “Very often, when the government has made these huge, very big announcements … the figures have often been fudged,” Yogendra Yadav, founder of the opposition party Swaraj India, told a television channel.”What we have right now is a statement of intent. How can you quarrel with intent?”Modi said the reforms of the land and labor markets were intended to make India more competitive and a big player in global supply chains, some of which could shift away from China after the pandemic.Business leaders say potential investors often choose Vietnam, Thailand or Bangladesh ahead of India because of the time required to buy land for factories, restrictive labor laws and higher borrowing costs.”These reforms will promote business, attract investment, and further strengthen ‘Made in India’,” Modi said.Governments and central banks around the world have unleashed unprecedented amounts of fiscal and monetary support for economies that are reeling from the pandemic.”India’s response has so far been tepid compared to other key nations and thus the catch-up is welcome and is also the need of the hour,” said Madhavi Arora, lead economist at Edelweiss FX and Rates.”It needs to be seen how much will be in the form of direct budgetary support to gauge the immediate fiscal hit and the consequent funding sources.”  In March, the government said it was providing around 1.7 trillion rupees ($2.6 billion) in direct cash transfers and food security measures, mainly for the poor, but was widely accused of doing too little.Modi said details of the new package, as well as reforms of land and labor markets, would be released within days:”The package will also focus on land, labor, liquidity and laws. It will cater to various sections including cottage industry, medium and small enterprises, laborers, middle class, industries, among others.”Economists said the new package included the March allocation as well as liquidity measures announced by the central bank worth $6.5 trillion rupees.last_img read more

European pension fund seeks emerging markets managers via IPE Quest

first_imgA European pension fund is seeking managers for a €400m allocation to emerging markets, through two searches on IPE Quest.In search QN-2316, the investor has requested a core active manager to run a €200m emerging market equity allocation.In search QN-2317, the pension fund requested a quant manager to run a similar mandate.Both mandates are to be benchmarked against the MSCI Emerging Markets index. Managers bidding for the allocations should have at least €3bn already under management in the asset class, and at least €10bn under management overall. They must have at least a five-year track record.Performance should be stated gross of fees to 31 March 2017.The pension fund will accept a maximum tracking error of 6% for each allocation.The closing date for proposals is 31 May.The IPE news team is unable to answer any further questions about IPE Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com.last_img read more

Swiss Federal Council in tight spot over pension reform after consultations

first_imgShe added that proposing alternatives to a certain model of the reform was also an option, but it would require a new round of consultations too.The review of the second pillar pension system is based on proposals made by the social partners Swiss Employers’ Association (SAV), Swiss Trade Union Federation (SGB) and Travail.Suisse, with the goal to reduce occupational pensions’ funding problem, secure a certain level of pensions payments and to improve social security for low-income workers.The coronavirus pandemic has forced an extension of the consultation until the end of May.Hanspeter Konrad, managing director of Swiss pension fund association ASIP, told IPE that it remains to be seen whether the Federal Council will stick to the social partner compromise.“The proposed pension supplement in particular has been massively criticized and largely rejected in the consultation process,” he said, adding that also in a following debate in Parliament the result will still be uncertain.“The proposed pension supplement in particular has been massively criticized and largely rejected in the consultation process”Hanspeter Konrad, managing director of Swiss pension fund association ASIP“However, we assume that in the political discussion our demand for an affordable reform without unnecessary correction to benefits will become more and more important due to the recession,” he added.Roland Müller, managing director of the employers association Schweizerische Arbeitgeberverband, agreed that it was not yet clear “what the message of the Federal Council will look like, and when it will pass it on to the Parliament,” he told IPE.But the Swiss Employers’ Association (SAV) is confident that the Federal Council will “considerably” rely on the proposal made by the social partners.The compromise can be accepted as a “comprehensive package,” he said.Müller underlined that the urgency of a complete reform is undisputed among the political parties, therefore the employers association believes that the Parliament will take on its responsibilities to modernize the second pillar and solve important structural problems.He added: “The introduction of a pension supplement reinforces and stabilizes the second pillar. Only for the first 15 years the transitional generation receives a lifelong fixed pension supplement financed by 0.5% of wages.“After that, from the 16th year since the reform came into force, the pension supplement is based on funds available, and it is important for us to emphasize that the funding is permanently limited for a specific purpose to 0.5%.”According to the social partners, beneficiaries will receive a lifelong monthly pension supplement that varies from CHF200 (€180) to CHF100, independent from the amount of the pension fund, and financed through a contribution of 0.5% on the annual income bound to the first pillar AHV up to CHF853,200 (as of 2019).For Konrad, the solution of a lifelong pension increase through a supplement is not “justifiable” in light of the economic impact caused by the COVID-19 pandemic.ASIP puts a rapid reduction of the conversion rate from 6.8% to 5.8% at the top of the reform list.Looking for IPE’s latest magazine? Read the digital edition here. The Swiss Federal Council faces a tough decision on whether to hand over its full proposal for the second pillar pension system reform after consultations given the political sensitivity of the matter.“The decision of the Federal Council is not easy because there isn’t a large and clear majority that supports the proposal for the reform, and the outcome is not certain at the moment,” Colette Nova, vice director of the Federal Social Insurance Office, the department responsible for occupational pensions, told IPE.The Federal Council is likely to take some time to examine the results of the consultation.She said the Council had different options: it could pass on the proposal for a reform as it is to the parliament, it could change it, and if the changes were considerable, the Council then would carry out another consultation.last_img read more