UN Pension - cost of living increase, 30 January 2017

PENSION COST OF LIVING INCREASE

UPDATE: SHARING AN EMAIL RECEIVED FROM AFICS TODAY, 8 February 2017 
From: AFICS <afics@un.org> 
Date: Wed, Feb 8, 2017 at 3:04 PM 
Subject: Pension Increase

To: AFICS 
Dear Colleagues, 
"MORE GREAT NEWS: 
Further to my earlier note and based on the official USA CPI data, the April 2017 increase for monthly UNJSPF pensions paid on the US-dollar track will be 3.6% (i.e. 0.1% higher than the estimated 3.5% mentioned in my earlier note).

John Dietz, President
AFICS/NY"


PENSION: COST OF LIVING INCREASE

SHARING AN EMAIL RECEIVED FROM AFICS/NY

"Date: Mon, Jan 30, 2017 at 3:02 PM
Subject: CPI increase on US dollar track

"GREAT NEWS. Under the UNJSPF Pension Adjustment System, for monthly pensions on the US dollar track there will be a cost-of-living (CPI) increase of at least 3.5%, effective 1 April 2017; this increase will be reflected in the  monthly benefit paid by the Pension Fund at the end of April 2017. (For recent retirees, the CPI increase will be pro-rated, based on the starting date for the UNJSPF pension entitlement.)



The precise amount of the US CPI increase will be established only after the US CPI data for December 2016 has been published in the monthly UN Bulletin of Statistics, some time in February 2017.

Any CPI increase of UNJSPF pensions requires inflation of at least 2%, measured from the date of the last such adjustment; that had been April 2014 for the US dollar track. For those whose pensions are payable on the local track under the two-track UNJSPF Pension Adjustment System, a possible CPI increase in April 2017 will depend on the official CPI data for their respective countries of residence.

As soon as it is known, we will inform you of the precise amount of the  CPI increase in the US dollar track pensions  as from April 2017.

John Dietz
President
AFICS/NY"