Need more women in top jobs
With reference to Jack Dutton's report Muslim woman becomes Britain's first hijab-wearing judge (May 26): congratulations. We need a world with women in 50 per cent of all jobs, judges especially but also in the police, as lawyers, senators, etc. I wish the judge Raffia Arshad all the best.
Rhonda Klingerman, Abu Dhabi
Not everything about going to watch a film has changed
With reference to Sophie Prideaux's story Vox cinemas, Ski Dubai and Magic Planet among venues to reopen on Wednesday – what you need to know before visiting (May 26): I was curious if given the limited capacity they would increase movie prices to compensate for the loss of seating capacity but I hear now that prices will remain unchanged.
Simon Buckerfield, Dubai
I am going to stay home till there is a consistent drop in the number of daily cases. Would not want to risk myself or others.
Saadias Halim, Dubai
Allocate a generous reward for developing a vaccine
Please refer to the article by Nicky Harley Oxford Covid-19 vaccine trial running out of UK virus exposure to complete tests (May 25): the scientists at University of Oxford's Jenner Institute and the Oxford Vaccine Group have expressed concerns that they may not be able to complete their research since the virus is diminishing in the UK. The Oxford scientists group should consider starting simultaneous trials in countries like Kenya and, say, India, where the virus is yet very strong. The trials must should go on.
Normally scientists and researchers work for academic recognition. It’s time to motivate them with finance and honour too, considering the high stakes of Covid-19.
The world should declare generous rewards to research organisations scientists leading the development of the vaccine. Awards like the Nobel Prize should go to the scientists who discover the vaccine.
Collecting this prize money should not be any problem. Around 200 nations are affected by Covid-19. Each nation has to contribute a little and the more affluent nations like the USA, UK, China, Japan, etc, could chip in some more.
The global economy is taking a massive hit, which may run in a few trillion dollars. According to Fitch Ratings, the global gross domestic product is likely to decline by 3.9 per cent in 2020. This translates to a loss of $2.7tn income in 2020 compared to 2019.
So it is best to declare a massive reward in financial and recognition terms upfront. At stake is the survival of mankind, if the virus is not harnessed expeditiously.
Rajendra Aneja, Dubai
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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.