Concerns Raised about Service Quality, Failure to Meet Investment Return Target, as Fifth Committee Discusses United Nations Pension Fund Budget
With the assets of the United Nations Joint Staff Pension Fund totalling a record $62 billion at the end of October, delegates today expressed concern over the quality of service it provided to its more than 200,000 participants, as well as its failure in 2016 to meet its return‑on‑investment target, as the Fifth Committee (Administrative and Budgetary) took up the Fund’s proposed budget for the biennium 2018‑2019.
With officials of the Fund making the case for a bigger budget to hire more staff to service an ever‑growing worldwide clientele, speakers also emphasized the need for transparency and for strong risk management, including anti‑fraud measures, for the entity that extends pensions and benefits for the United Nations and 23 other international organizations.. .
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