Here's the latest evidence that there's a lot more than meets the eye in the constant stream of happy talk and self-promotion emanating from the UNJSPF management
The Coordinating Committee for International Staff Unions and Associations (CCISUA) expresses concern about a lack of transparency on benefit payments, increased risk and outsourcing regarding investments, and alarm at the treatment of whistleblowers, in a resolution published today and conveyed to the Secretary-General, the President of the General Assembly, and the Secretary of the Pension Board:
- “exceedingly long” processing times for payment of survivor benefits, with no related growth in the provisional benefits safety net;
- that the Representative of the Secretary-General has continued to increase outsourcing of the fixed income portfolio, despite promises to the contrary made to CCISUA in 2022, bringing the total of the Fund’s outsourced portfolio to 28 per cent;
- states concern that investment in high yield bonds increased risk contrary to promises to reduce risk in line with other pension funds;
- notes some improvement in transparency in investment reporting but not to the standard of peer public pension funds;
- expresses alarm at the treatment of whistelblowers who resported misconduct, with a loss of 150 years of expertise in the fund in a single year;
- and calls on the Chief Executive of the Pension Fund and the RSG to, respectively, increase transparency on outstanding survivor and separation benefits payments, and on the investments of the Fund.
Read the resolution here:
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