Tags: U.N.'s | Kofi | Annan | Cashes | With | Two | Pensions

U.N.'s Kofi Annan Cashes in With Two Pensions

Wednesday, 13 September 2006 12:00 AM

UNITED NATIONS -- U.N. Secretary-General Kofi Annan, who will end his 10-year term on Jan. 1, 2007, will have no trouble making ends meet during retirement.

NewsMax.com has learned that the U.N. chief will not only collect a life-time pension in excess of $12,000 a month, tax-free, but was allowed to cash in a second pension valued at more than $1 million — also tax-free — when he became secretary-general in 1996.

Prior to becoming secretary-general, Annan held various posts in the U.N. system for more than 20 years, including under-secretary general for peacekeeping affairs.

Since becoming secretary-general, Annan has steadfastly refused to release any financial records other than his U.N. salary.

This pension news comes on the heels of the exploding Iraq oil-for-food scandal. More than $2 billion of that aid money remains unaccounted for in what is considered the worst embezzlement in U.N. history.

An earlier NewsMax.com investigation of Annan's financial records showed that the U.N. chief made approximately $315,000 for fiscal 2005 and paid less than $8,000 in taxes or "staff assessments."

Since the United Nations is an international organization, its staff does not pay conventional national taxes.

Annan not only is the highest salaried international "civil servant," but he also paid one of the lowest staff assessments in the U.N. civil service system.

This revelation comes at a time when the United Nations is under increasing pressure to reform its cost structure and to look for financing of a major structural renovation of its New York City headquarters.

The so-called "capital renovation" project is seeking more than $1 billion in long-term financing to repair a U.N. headquarters that Sen. Charles Schumer, D-N.Y., has called a "safety hazard."

Meanwhile, next week, Annan will officially welcome numerous world dignitaries — including President George W. Bush — to the 2006 General Assembly. The 2006 General Assembly will be Annan's last as secretary-general.

A successor to Annan has not yet emerged.

The United Nations is expected to elect a new secretary-general in mid-November.

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UNITED NATIONS -- U.N. Secretary-General Kofi Annan, who will end his 10-year term on Jan. 1, 2007, will have no trouble making ends meet during retirement. NewsMax.com has learned that the U.N. chief will not only collect a life-time pension in excess of $12,000 a...
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2006-00-13
Wednesday, 13 September 2006 12:00 AM
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