Photo by Tristan Tamayo/ INQUIRER.netBOCAUE — Losing its fifth straight Manila Clasico, Paul Lee admitted that Ginebra is indeed the biggest thorn in Magnolia’s side.“Maybe, they’re really one of the humps that we need to overcome for us to get to the championship,” Lee said after the Hotshots fell to the Gin Kings, 78-89 at Philippine Arena.ADVERTISEMENT For the better part of the last three seasons or since coach Tim Cone transferred to Ginebra, it has always been the Gin Kings, who prevail, including the last three Christmas Day duels.And the Monday tiff was no different as Magnolia struggled to get its offense going with the stingy Ginebra defense in full bloom, forcing the Hotshots to shoot a woeful 36 percent clip and an undesirable 18 percent shooting from beyond the arc.FEATURED STORIESSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkIt also doesn’t help that the Gin Kings dominated the boards, 56-46, including 16 offensive rebounds that led to 21 second chance points.Lee, however, doesn’t want to dwell on the defeat, but rather, he is taking this as a lesson for Magnolia to become a better team. Timberwolves beat Lakers for first Christmas win Don’t miss out on the latest news and information. OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson “We need to look at the video to see where we lacked on. It’s better if we see it all together so we can improve on that as a team,” he said.“Every game, we need to give our best. We can’t put Ginebra as the only team we want to beat because we might get beaten by the other teams. We need to prepare for every team, especially the contenders,” he said.Sports Related Videospowered by AdSparcRead Next LATEST STORIES OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson Steam emission over Taal’s main crater ‘steady’ for past 24 hours Scottie Thompson also worthy of Finals MVP, thinks Cone Jiro Manio arrested for stabbing man in Marikina MOST READ Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Meralco ‘never the same’ after Almazan injury in PBA Finals Redemption is sweet for Ginebra, Scottie Thompson Brian Heruela arrival bolsters Phoenix backcourt, defense ‘The Two Popes’ movie explores depth of faith, frailties of man PLAY LIST 01:28‘The Two Popes’ movie explores depth of faith, frailties of man00:50Trending Articles00:50Trending Articles02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award View comments
26 September 2007South Africa has launched a public-private partnership that will provide retirement packages for around one million domestic workers across the country.The Domestic Workers Plan, a partnership between the Presidential Working Group on Women (PWGW) and financial services group Old Mutual, is aimed at helping a larger portion of the country’s workforce to save for old age.“Domestic workers form an important part of our society, but very few enjoy the financial benefits that are common to formal jobs,” Old Mutual retail mass-market solutions executive Andrew Cartwright said at the launch in Johannesburg this week.“While some financial services companies offer general products geared towards lower-income workers, this product brings a comprehensive package geared to the specific needs of domestic workers.”The Domestic Workers Plan will provide workers with membership of a retirement fund with investments managed by Old Mutual, funeral cover for the family and additional family support services including health advice, funeral support, legal support, emergency medical response and trauma, assault and HIV support.The packages are available for a monthly contribution of between R85 and R200, depending on the level of savings chosen. A fee of R7 is deducted from each contribution to cover distribution costs of the product, while a total fee of 1.65% per annum, calculated and deducted monthly, is charged for the management of the investment.According to the Widows Forum of SA, a member of the PWGW, 60% of women over 55 years are left destitute after the death of their husbands, while 87% of widowed or divorced women over the age of 60, depend on their children for their welfare.“We need to provide greater access to savings and cover for vulnerable groups such as women in rural areas, farm workers, single parents and domestic workers,” said PWGW chairperson Gloria Serobe.“Greater economic independence in their current working situations and in their retirement years is key to true empowerment.”Greater economic role for womenSerobe expressed concern that despite making up at least half of the members of retirement funds, and representing 33% of the assets of those funds, only 7% of the trustees of retirement funds were women.By contrast, women will largely manage the financial solutions and investments within the Domestic Workers plan.“We want to influence the economy,” Serobe said, “by harnessing the collective influence of current retirement savings of women to create a greater role for them.”While currently focussing on creating products domestics other vulnerable workers, the fund will in future also target women employed in the formal sector, those involved with small and medium enterprises, as well as artists and seasonal workers.Serobe added that the PWGW would continue to work with Old Mutual and other key players in the financial services sector to develop additional products and services for women.This includes a programme called Investing for Women that will leverage shareholder activism to encourage companies, in which retirement funds invest to adopt business practices that benefit women.“Such initiatives should play a part in addressing the huge economic imbalances that exist in South Africa, and help empower women to take charge of their finances and plan for a better future,” she said.SAinfo reporter and BuaNews Want to use this article in your publication or on your website?See: Using SAinfo material
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