JAPAN: Embezzlement of Pensions Hits ¥201 Million Toll

TOKYO, Japan (The Japan Times-Kyodo News), September 5, 2007: Pension, benefits and other funds embezzled by local pension administrators totaled ¥200.78 million in 49 cases from fiscal 1966 to fiscal 2001, according to a government report. The report also shows that embezzlement by employees of the national Social Insurance Agency came to ¥141.97 million in roughly 50 cases. Some ¥15 million in 12 cases for local administrators, and roughly ¥24 million in 18 cases for agency workers, were discovered and disclosed for the first time in the latest report. "It's really shameful and unforgivable," Health, Labor and Welfare Minister Yoichi Masuzoe said. "We will take appropriate action." The local cases occurred at 44 authorities in 23 prefectures. Agency officials said records on embezzled pension premiums have been corrected and accurately booked so there will be no problems when paying out benefits. (C)The Japan Times