Woods pulls out after complaining of a bad back


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Tiger Woods withdrew from The Players Championship yesterday with an injury that he fears might be a bulging disc in his upper back. "I've been playing with a bad neck for about a month," Woods said. After hitting his drive well to the right on the seventh hole, Woods called for an official. He hit his second shot and grimaced, then walked to the middle of the fairway to shake hands with Jason Bohn, his playing partner, before leaving on a golf cart.

Woods had his head bowed for several minutes as he sat in front of his locker, and other times kept his eyes closed as if he were in the middle of a nap before answering questions from three reporters. "I've been playing through it," Woods said quietly. "I can't play through it anymore." He said he first felt the injury before the Masters and plans to have an MRI scan next week. He said he was having a hard time with the pain, and that there was a tingling sensation on his right side down to his fingers. As he was driven off in the cart, Woods continually squeezed his right hand and released his fingers.

"I might have a bulging disc," he said. Woods said he does not know what caused the injury, only that "playing doesn't help it". It is the first time he has withdrawn from a tournament since the Nissan Open at Riviera in 2006, when he narrowly made the cut and withdrew from the final two rounds because of flu. He also withdrew from the 1995 US Open at Shinnecock Hills as a 19-year-old amateur because of a wrist injury he sustained while hitting out of deep rough.

* AP

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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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