UN
PARTICIPANT REPRESENTATIVES TO THE PENSION BOARD:
OUR
WORK TO IMPROVE THE FUND IS BEARING FRUIT
BROADCAST FROM THE
UN STAFF UNIONS
To: HQ NY Secretariat
Subject: FROM THE UN STAFF UNIONS: Our work to improve the pension fund is bearing fruit | Nos efforts pour améliorer la Caisse des pensions portent leurs fruits
Subject: FROM THE UN STAFF UNIONS: Our work to improve the pension fund is bearing fruit | Nos efforts pour améliorer la Caisse des pensions portent leurs fruits
This message is sent by UN staff unions on behalf of the UN
participant representatives to the Pension Board. (version française en bas de
page)
Dear Colleagues,
Firstly Happy New Year! As members of the pension fund board, representing United Nations family participants, we look forward to 2018 being a year of positive change.
We are already off to a good start.
Just before Christmas the General Assembly passed a resolution that recognized many of the issues we have been raising and took action:
Dear Colleagues,
Firstly Happy New Year! As members of the pension fund board, representing United Nations family participants, we look forward to 2018 being a year of positive change.
We are already off to a good start.
Just before Christmas the General Assembly passed a resolution that recognized many of the issues we have been raising and took action:
- It
requested an OIOS audit of how the pension fund is governed after we
revealed the Board’s unwieldy structure and failure to provide effective
oversight of the Fund’s senior management.
- It did not
approve new D-1 and P-5 posts, which were superfluous and would inflate
costs at a time when many pension fund posts lie vacant.
- It
expressed concern at continuing payment delays and requested a client
grievance redress mechanism, after auditors showed that the fund had
concealed the true size of the payment backlog.
- It also
expressed concern at the slow progress in implementing the recommendations
of the Board of Auditors.
- Finally it
expressed concern at the inaccurate data provided to the actuaries,
meaning we don’t know the exact solvency of the fund, and requested a
strengthening of internal control procedures, after another audit report
found that the fund had misspent $1.8 million of a $2.2 million contract
with PWC.
- In December the Secretary-General also made clear that while he would accept the Board’s recommendation to extend the CEO of the fund by three years (2018 to 2020) instead of the traditional five, continuation beyond 2018 would be subject to a fresh performance review and he would retain full discretion to terminate. This effectively puts the CEO, whom successive audits have shown to have mismanaged the fund, on probation.