THE UN GENERAL ASSEMBLY URGES THE $54 BILLION PENSION FUND TO SHAPE UP, by Susan Manuel, January 2, 2017
"The United Nations General Assembly sharply rebuked the United Nations Pension Fund, which it oversees, reaffirming control of the $54 billion account by the UN Secretariat and calling on the fund to improve its problematic performance and service to its 72,000 beneficiaries.
The strongly worded resolution came amid other resolutions being finalized at the tail end of the assembly’s 71st session in late December. The pension fund has been embroiled in problems affecting both investments and payouts to beneficiaries. (See PassBlue’s article in September 2016.). . . "
PROBLEMS CONTINUE AT THE UN PENSION FUND, November 2016
In the spring we briefed you on trouble at the top of the pension fund. Over a tumultuous summer,
matters only got worse.
“There’s a huge problem of competence in the functioning of the Fund and Board. We must stop pretending it is fine. When someone fails they should not be rated as successful, when people are not paid we should not pretend things are fine.”
Egor Ovtcharenko, CCISUA Vice President, Conditions of Service.
"Corporate infighting, allegations of management fraud, media leaks, pensions not being paid, a move towards risky investments, all capped by a seemingly pliant board. How did it all go wrong?
Once seen as a bastion of stability, the UN pension fund has rarely been out of the news these last two years, and for all the wrong reasons. We’ll try to shine some light on the malaise at the top of our pension fund and expose the power politics that could eventually tear it apart."