Manchester rivalry that cuts through home life



Rory McIlroy is a committed fan of the football side Manchester United and since he was a young boy has enjoyed family bragging rights over his father Gerry, a Manchester City follower, in their Holywood home in Belfast, Northern Ireland. Now he is worried that his dad will be the one doing more of the celebrating after last week's takeover of City by the Abu Dhabi United Group.

"He has been a bit quiet since we won the league championship and European Cup but he has been buzzing since he found out about the Abu Dhabi takeover of City," he said. "It will be interesting to see what happens in the January transfer window because if City buy a couple more good players they could become a real force in the game. They've certainly got a good manager [Mark Hughes] who can take them forward. Let's hope they don't become as strong as United."

McIlroy is also a keen tennis enthusiast and stayed up late after his play-off defeat in the European Masters on Sunday to watch Scotland's Andy Murray overcome the world No 1 Rafael Nadal in the semi-finals of the US Open. "I was very impressed with how Andy played and I hope he plays as well against [Roger] Federer in the final," he said. "I feel I can compare myself in golf with what he is doing in tennis, even though he has made more progress than me towards achieving his goals."

McIlroy will be watching more television when his European Tour colleagues take on the Americans in the Ryder Cup later this month. "I think Europe have a very strong team this year and it is going to be tough for the United States to win back the trophy," he added. "I hope to be involved when the next one comes round at Celtic Manor in 2010, but that is not my main objective at the moment. "The important thing is to play well in the major tournaments. If I do that then the qualifying points will come automatically."

@Email:wjohnson@thenational.ae

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The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

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