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United Nations Joint Staff Pension Fund

An Overview

Note: This quick overview provides very basic information about the United Nations Joint Staff Pension Fund (UNJSPF). For detailed information regarding the various benefits, you should refer to the 'Regulations and Rules' of the Fund, as well as the 'Publications and Documents' page, both found within this site.

Purpose of the Fund

The United Nations Joint Staff Pension Fund is a fund that was established in by the United Nations General Assembly in 1949 to provide retirement, death, disability and related benefits for staff of the United Nations and the other organizations admitted to membership in the Fund. As of 31 December 2010, the Fund was serving 23 member organizations, with 121,138 active participants and 63,830 beneficiaries. On 31 December 2010, the value of the assets of the UNJSPF stood at 41.4 billion US dollars.

Benefits

The Fund provides the following types of benefits:

Pension Adjustment System

The Fund's Pension Adjustment System was designed to protect the purchasing power of a periodic benefit from inflation and, in some cases, from currency fluctuations. Pensions are adjusted annually, on 1 April. Adjustments are made in accordance with the movement of the applicable Consumer Price Index; however, if this movement was less than 2%, the adjustment is postponed until the cumulative 2% threshold has been attained. If the applicable CPI movement is larger than 10%, the benefits are adjusted semi-annually, on 1 April and 1 October. Beneficiaries living in certain countries have the option of choosing the two-track system for adjustment of their benefits. This system is explained in detail in the 'Publications and Documents' section of this site.

Important things you should know about your benefit

Depending upon your status, there are certain actions you should take to ensure your benefit is paid in a timely manner.

Whether or not you will be retiring soon, if you are an active participant, you should check the following:

  • Ensure a current 'Designation of Beneficiary' form (A-2) is on file with the Fund. This is very important, as in the event of your death, it allows the Fund to pay the residual settlement to the person of your choice; otherwise, any residual settlement due will be paid to your estate;
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  • Carefully review your annual statement to ensure accuracy.
If you are planning to retire soon, or are already retired, you should check the following:
  • Upon separation from service, ensure payment instructions are sent to the Fund and check with your employing organization to ensure they forward the required separation documents to the Fund;
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  • Review your 'Designation of Beneficiary' form (A2) to ensure it is up to date;
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  • If you reside outside of the United States, you should review the two-track pension adjustment system to find out if it is the right choice for you;
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  • If you are retiring, you should inquire about After-Service Health Insurance (ASHI) options that may be available to you;
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  • Once your benefit commences, report every change of address and country of residence to the Fund;
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  • Once retired, ensure you sign and return the annual 'Certificate of Entitlement' form as soon as you receive it; failure to do so may result in a temporary suspension of your benefit;
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  • If you live in a country that taxes the UNJSPF benefits, you should request a tax statement from the Fund, well in advance of the tax year to which it relates;
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  • If you are receiving a small monthly periodic benefit from the Fund, and you experience a financial hardship due to illness, infirmities of old age, you may want to inquire as to whether or not the Emergency Fund would be available in your individual case. Information in this regard may be found in the Fund's annual letter.
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