'We got beat': Gwyneth Paltrow admits defeat to Elon Musk for controversial baby name

When Gwyneth Paltrow and Chris Martin introduced their daughter, Apple, to the world in 2004, their choice of name sparked a fair amount of ridicule.

But Paltrow has acknowledged that they have now been "beat" in the controversial baby name stakes by Elon Musk and partner Grimes, who announced this week that their new son is called X Æ A-12.

Gwyneth Paltrow's decision to name her daughter Apple caused some controversy in 2004. Courtesy Netflix

The Goop founder commented on a post on InStyle magazine's Instagram account, saying: "#Chrismartin I think we got beat for most controversial baby name."

Paltrow explained the reasoning behind her daughter’s name in an interview with Oprah in 2004. "When we were first pregnant, her daddy said: 'If it's a girl I think her name should be Apple.' It sounded so sweet, and it conjured such a lovely picture for me, you know. Apples are so sweet and they're wholesome, and it's biblical.”

Meanwhile, Musk has credited partner Grimes, real name Claire Elise Boucher, with the couple’s choice of baby name, and has been busy trying to explain how to translate it on The Joe Rogan Experience podcast. “It's just the letter X and then the Æ is pronounced 'Ash'. A-12 is my contribution…. Coolest plane ever. It's pretty great.”

Grimes, meanwhile, took to Twitter to explain the thinking behind the name, although she herself seems confused by its origins, as Musk had to correct her on one point. “A-12 = precursor to SR-17 (our favourite aircraft),” she wrote. To which Musk promptly commented: “SR-71, but yes”.

There is also some speculation about whether the name will be legally accepted in California, where birth certificates only allow the 26 letters of the English alphabet.

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WISH

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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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