2) Long term (1/4)

UNJSPF : Evolution of Actuarial situation since 1990

15

2) Long term (2/4)

16

The current funding ratio is 139.6 per cent as of the latest valuation at 31 December 2009.This ratio indicates that there is a 39.6 per cent security margin. However, if account is taken of the pension adjustment system, the funded ratio drops below 100%.

UNJSPF: Funding ratio for Valuations as of 31 December 1990-2009

2) Long term (3/4)

3

Market value as of 31 December 2011: US$ 39.7 billion17

Market value, Actuarial value and Asset needed for balance (US $ million)

2) Long term (4/4)

Performance achieved compared to the Fund’s return objectives

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The Fund did not meet its long-term investment objective in the 1, 2, 4, 5, 6, 7 and 8 Year periods.

Table of contents

A. Decisions taken by the General AssemblyB. Update on the Fund’s activities

I. Overview II. Update on investments (By W. Sach, Representative of the SG for investments)

III. Update on operations

IV. Comments on the Fund’s Balance

C. Conclusions C. Conclusions

D. Important meetings

E. Main items on the Agenda of the 59th session of the Pension Board (UNESCO-Paris, 3-11 July 2012)

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C. CONCLUSIONS

The Fund continues to monitor , on an ongoing basis, the efficiency and effectiveness of its operations and services through its governance and Fund-wide coordination mechanisms.

The Fund is currently working on the following 3 key projects:

- IPSAS implementation starting 1 January 2012

- Integrated Pension Administration System for implementation in 2014

- Data collection project

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Table of contents A. Decisions taken by the General AssemblyB. Update on the Fund’s activities

I. Overview II. Update on investments (By W. Sach, Representative of the SG for investments)

III. Update on operations

IV. Comments on the Fund’s Balance

C. Conclusions

D. Important meetingsD. Important meetings

E. Main items on the Agenda of the 59th session of the Pension Board (UNESCO-Paris, 3-11 July 2012)

21

D. Important meetings

Pension Board3 - 11 July 2012 (UNESCO, Paris)

 Audit Committee

8-9 March, June, November 2012

Search Committee 15-16 March 2012

Committee of Actuaries 13 - 15 June 2012 ( New York)

 Investments Committee

6-7 February, 7 May, 2 July, 5 November 2012

 

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Table of contents A. Decisions taken by the General AssemblyB. Update on the Fund’s activities

I. Overview II. Update on investments (By W. Sach, Representative of the SG for investments)

III. Update on operations

IV. Comments on the Fund’s Balance

C. Conclusions

D. Important meetings

E. Main items on the Agenda of the 59th session of the PensionE. Main items on the Agenda of the 59th session of the Pension Board (UNESCO-Paris, 3-11 July 2012)Board (UNESCO-Paris, 3-11 July 2012)

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D. 59th SESSION OF THE PENSION BOARD 

Main items on the AGENDA

-Consideration by the General Assembly of the UN Pension System at its sixty-sixth session-Actuarial matters -Investments of the Fund -Administrative matters -Governance matters -Audit -Benefit system/Participants -Other matters

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www.unjspf.org

 

New icons on the UNJSPF website

for easy access to useful information

NEW!

Divorce

Booklets/Booklets/Livrets ThématiquesLivrets Thématiques

ValidationValidation

SeparationSeparation

DisabilityDisability

RestorationRestoration

Two-TrackTwo-Track

Information for Information for BeneficiariesBeneficiaries

ParticipationParticipation

Transfer AgreementsTransfer Agreements

Survivor’s BenefitsSurvivor’s Benefits

FAQs (1/2)1. What should a retiree do to obtain a statement from the Fund for tax reporting

purposes?

Retirees can contact the Fund office by phone or email, in order to receive a tax statement of benefits. Retirees will automatically receive the tax statement in subsequent years.

2. What happens if a UNJSPF retiree is travelling and forgets to submit his or her CE?

The retiree should send a letter to the Fund as soon as possible, including the date, official address, name, retirement number with his/her official ORIGINAL signature. This letter will alert the Fund to prevent a potential future suspension.

3. What can a retiree do to facilitate the process for his or her survivor’s benefit?

To help your survivor be prepared, you should keep all of your records easily available, in order to be submitted to the Fund when applying for a survivor benefit. A list of these documents is on the Fund's website and contained in the Fund's booklet on survivor’s benefits.

28

FAQs (2/2)

4. How often are UNJSPF periodic benefits adjusted due to inflation?

Periodic benefits are adjusted when the cost-of-living in the country of residence has met the 2% threshold. If the threshold is not met in a given year, the movements are carried over to the next year.

5. What should I do if my pension payment is not received?

If your payment is not received and you are sure that there is no problem with your bank, you should contact the Fund by phone and/or email, either in New York or Geneva, as soon as possible, so that the Fund can research and take the necessary action to help ensure you receive your payment.

etc………..

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