New pension system to be offered to more segments

September 11th, 2009 KOLKATA - India's pension regulator has called for attractive incentives for collection agents in a bid to popularise the new social security scheme as they are the main point of contact between the subscriber and the pension fund. "Incentives are needed as there is no provision for commission under the recently launched NPS (New Pension Scheme)," said Praveen Kumar, executive director of Pension Fund Regulatory and Development Authority executive director here Friday.

August 20th, 2009 Brink's Co. contributes to underfunded pensionRICHMOND, Va. — Armored car company Brink's Co.

August 19th, 2009 Some NY lawmakers collect pension pay and salariesALBANY, N.Y. — Four veteran New York legislators who have reached retirement age are collecting state pension payments at the same time they continue to get their regular paychecks.

August 19th, 2009 Some NY legislators collect pension pay, salariesALBANY, N.Y. — Four veteran New York lawmakers who have reached retirement age are collecting state pension payments at the same time they continue to get their regular paychecks.

July 18th, 2009 Moody's may downgrade Calif. pension funds' ratingSACRAMENTO, Calif.

July 17th, 2009 Union sets strike vote on Barclays pension closureLONDON — Britain's Unite union said Friday it will ask members to vote next month on whether to strike against Barclays Bank because of the proposed closure of a final salary pension plan. The union, which represents 25,000 employees of the bank, said walkouts would be staged in September if members approve the strike call.

July 1st, 2009 Calif.-based pension adviser settles NY probeNEW YORK — A company that helps government pension funds decide how to invest their money has agreed to pay $2 million to extract itself from a New York corruption investigation. The settlement announced Wednesday will spare the Pacific Corporate Group from criminal or civil charges in a probe led by state Attorney General Andrew Cuomo (KWOH'-moh).

June 16th, 2009 Canadian fund raises bid for Australia's MacquarieTORONTO — A Canadian pension fund is sweetening its bid for Macquarie Communications Infrastructure Group, a communications network company with operations in Australia and the United Kingdom. The Australian company's independent directors are supporting the deal.

June 11th, 2009 Firm settles over its role in NY pension probeNEW YORK — The private equity firm Riverstone Holdings has agreed to pay $30 million and abide by a new code of conduct to resolve its role in a corruption scandal at New York's giant government pension fund. Riverstone, which invests in energy and power companies, was among several investment firms that embraced improper "pay-to-play" tactics while trying to persuade state officials to let them manage hundreds of millions of dollars in retirement system assets, according to an investigation led by Attorney General Andrew Cuomo.

May 29th, 2009 NY pension fund takes more than 26 percent hitALBANY, N.Y. — New York state Comptroller Thomas DiNapoli says the state's massive public pension fund lost more than 26 percent on its investments during a fiscal year marked by Wall Street's meltdown and the recession.

May 14th, 2009 IRS gives pension plans fix for tax credit glitchWASHINGTON — The IRS on Thursday offered pension plans a way to fix a glitch that has been causing the new Making Work Pay tax credit to incorrectly boost pension payments to retirees. Many retirees have been receiving additional money they are not entitled to, money that will have to be repaid at tax time next year, either through a smaller refund or a larger tax bill.

May 8th, 2009 Political agents get subpoenas in NY pension probeNEW YORK — Investigators probing influence peddling at the state pension fund have subpoenaed a number of politically connected New Yorkers who picked up big paychecks lobbying former officials at the retirement fund. State officials on Wednesday released a list of dozens of agents who acted as middlemen between investment firms and pension fund officials during the tenure of former comptroller Alan Hevesi.

May 5th, 2009 Detroit official bills Dubai trip to pension planDETROIT — Records show a Detroit official charged the city's police and firefighters pension plan more than $20,000 for a trip to the Persian Gulf emirate of Dubai. The Detroit Free Press says city councilwoman Barbara-Rose Collins booked a nearly $10,000 business-class plane ticket to attend a pension conference in Dubai last fall.

May 2nd, 2009 NEW DELHI - The Election Commission Saturday asked the Pension Fund Regulatory and Development Authority (PFRDA) to explain why its advertisement of the New Pension Scheme' had been different from the version for which the poll panel had given permission. The poll panel asked the pension authority to explain the deviation and non-compliance with the panel's order for the advertisement which appeared in the Hindu newspaper.

February 15th, 2009 NEW DELHI - The government Monday announced two new pension schemes for widows and physically disabled in the interim budget 2009-10. The Indira Gandhi National Widow Pension Scheme will provide a pension of Rs.200 to widows in the age group of 40-64, while the Indira Gandhi National Disability Pension Scheme aims to provide pension to 'severely disabled persons', acting finance minister Pranab Mukherjee said in his budget speech in parliament.