Analyzing the numbers vs benchmark
Compiled by M. Rockcliffe
(Click on each image to enlarge)
Sunday, October 13, 2019
UN Pension Fund - Analyzing the numbers, October 13, 2019
United Nations Joint Staff Pension Fund
Analyzing the numbers vs benchmark
Compiled by M. Rockcliffe
(Click on each image to enlarge)
Analyzing the numbers vs benchmark
Compiled by M. Rockcliffe
(Click on each image to enlarge)
Passblue: The $67 Billion UN Pension Fund: The Good, the Bad and the Ugly, October 10, 2019
"Since 2014, when staff members of the United Nations Pension Fund blew the whistle on serious mismanagement in its secretariat, a change in leadership has been made on both sides — assets and liabilities — of the $67.4 billion fund. Yet the turmoil persists.
Stabilizing the fund’s management and investment decisions has been mandated by General Assembly governance reforms that culminated in a 2018 resolution,A/RES/73/274, amid a continuing dysfunctional culture clouding the fund’s operations...."
Read the full article here:https://www.passblue.com/2019/10/10/the-67-billion-un-pension-fund-the-good-the-bad-and-the-ugly/
UN Pension Fund - UNPR Note - Direct election of retiree representation, 2019
Note by United Nations Participants’ Representatives
to the Pension Board
Direct Election of Retiree Representation on the Board
2019
Summary
The General Assembly in its Resolution 73/274
paragraph 14, noted that the Pension Board would consider issues of
participation, rotation and equitable representation on the Board and would
review inter alia the composition and size of the Board, including the
role of retiree representatives and the modalities for directly electing
retiree representatives to the Board, and requested the Board to provide
detailed follow-up on all aspects of the resolution including on the
implementation of the recommendations of the Office of Internal Oversight
Services agreed to by the Board. |
UN Pension Fund - UNPR Note - Enhancing processing and reducing forfeitures of benefits, 2019
Note
by United Nations Participants’ Representatives
to the Pension Board
to the Pension Board
Modalities to enhance the processing and reduce forfeiture of benefits
2019
Summary
|
UN Pension Fund - UNPR Note - Article 6: impact of proposed amendment, 2019
Note by United Nations Participants’ Representatives
to the Pension Board
Amendment to Rule of Procedure C.1 and
Impact
of 2018 proposed amendment to Article 6
2019
Summary
The General Assembly emphasized its existing
prerogative on matters pertaining to the Fund in paragraph 5 of resolution
73/274, and in paragraph 21 recalled that it has sole and ultimate authority
to approve amendments to the Regulations governing the Fund;
Furthermore
the GA requested in paragraph 20 that the Board to consider the impact of an
amendment of Article 6. We find that the amendment to exclude certain
participants of the Fund, would result in a double standard and violation of Article
8 of the United Nations Charter. |
UN Pension Fund - UNPR Note: Partial payments to former participants, 2019
Note by United Nations Participants’ Representatives
to the Pension Board
to the Pension Board
Partial Payments to former participants waiting for payment over 3
months
2018
Summary
The General
Assembly having taken
note of the OIOS comprehensive audit
of the governance
of the Pension Board also in its resolution 73/274 that
the Board requested
1 that “the Fund continue
to work towards meeting the
target of 15
business days for benefit processing for
actionable cases,” and reiterated the need to enhance the processing of
the receipt of payments
by
some beneficiaries” and stressed the need for implementation of
a system
to prioritize the resolution of the most urgent and severe cases.
Statistics provided by the Secretariat show that there are at
1000 beneficiaries
whose cases are
described as “actionable” who could benefit from the implementation of the proposal made in JSPB/65/R.45
and R.45 Add2.
UN Pension Fund - UNPR Note - Limitation of liability for disability benefits, 2019
Note by United Nations Participants’ Representatives
to the Pension Board
Limitation of Liability for Disability benefits
2019
Summary
Paragraph General Assembly
RES/73/274 highlighted the importance to ensure unfaltering accountability by
the Board.
Over the past several
months Staff Pension Committees have been faced with disability cases where
the official was on a “non-renewable” appointment of five years or less.
Since disability benefits
are based on a contributory service projected to the participant’s normal
retirement age, the benefits derived in these cases is inconsistent with the
temporary nature of the appointment and this loophole may often result in undue
enrichment of those concerned |
UN Pension Fund - UNPR Note - Composition of the Board, 2019
Note by United Nations Participants’ Representatives
to the Pension Board
Composition of
the Board
2019
|
Background
1)
The current
size
and composition of the
Pension Board was established
in 1987 via resolution 42/222 when the General
Assembly authorized 33 seats
based on a tripartite structure. This resolution
took effect on
1 January 1989 as promulgated.
2)
In
2002 the GA in resolution
57/286 requested the Pension Board to review its
size
and composition
“with a view to making such representation
more equitable in order
to reflect the
actual distribution of active participants in
the Fund, present and future trends in Fund participation,”
UN Pension Fund - UNPR Note - Article 48: impact of proposed amendments, 2019
Note by United Nations Participants’ Representatives
to the Pension Board
Impact of 2018 proposed amendments to Article 48
2019
Summary
Even though the proposal
was not unanimous and did not represent a consensus, in 2018 the Board
proposed to amend Article 48 in an attempt to reduce the jurisdiction of the
United Nations Appeals Tribunal The General Assembly in their resolution
73/274 requested that the Pension Board “provide further analysis on the 2018
proposed amendment to Article 48 of the Regulations and Rules and Pension
Adjustment System of the United Nations Joint Staff Pension Fund and to
report thereon in the context of the next report.”
The present proposal
in the Note by the Secretary/CEO does not provide an analysis but merely
proposes to re-submit an amendment. It
fails to address the underlying concerns of the General Assembly in making
such a far-reaching change. |
UN Pension Fund - UNPR Note - Terms of reference for Board members, 2019
Note by UN Participants’ Representatives
to the Pension
Board
Terms of Reference for Members of the Pension Board
2019
Summary
The General Assembly in is resolution 73/274 paragraph
14(a) noted that the Board would review The terms of reference,
and self-evaluation methodology of Board members; The
resolution takes note of the OIOS recommendation 1 in its report A/73/341 as follows:
“The Board should: (a) establish clear terms of reference for its members outlining, inter alia, the desirable competencies for their appointment and any appropriate restrictions or limitations; and (b) review its current methodology for self-evaluation to make the exercise more effective and useful.” |