Finance Ministry may allow 5 pvt funds to manage pensions of govt staff

D.C.’s campaign finance laws need reforming

Currently, there are three fund managers for managing pension corpus of government employees. They are LIC Pension Fund Ltd, SBI Pension Funds Pvt Ltd and UTI Retirement Solutions Ltd. Private sector pension corpus is managed by 8 players including three fund managers who manages the government employees’ corpus. The other five players are HDFC Pension Management Company Ltd, ICICI Prudential Pension Funds Management Company Ltd, Kotak Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd and DSP BlackRock Pension Fund Managers Pvt Ltd.

Finance Minister P Chidambaram. (IE Photo)

The budget deficit is expected to top at least 6 percent of gross domestic product this year, down from 7.3 percent in 2012. The current-account deficit will reach 8.7 percent of GDP according to IMF forecasts. Monetary policy makers are balancing the need to shore up Serbia s $37 billion economy against fighting inflation and shielding the dinar from market turmoil. The inflation rate fell to 9.9 percent in May, dipping below 10 percent for the first time in nine months.

Serb Leaders to Discuss If Finance Chief Stays in Cabinet

Browns 2010 campaign for chairman was the subject of an audit, released this month by the campaign finance office, that showed the same problems that afflicted the earlier campaign, albeit on a smaller scale. Among the findings was the expenditure of more than $215,000 on consulting services to two companies; the committee didnt produce contracts or invoices detailing what services were provided. Also cited was the issuance of 28 checks, including seven made out to cash, totaling $92,260 by Che Brown, Mr. Browns brother, who was not authorized to write checks from the campaign fund.

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