If you want to update your payment instructions, you should utilize the change in payment instructions form PF.23.
When completing the form, it is essential that you provide the bank codes required for the electronic transfer of your monthly benefit. You may provide such information in a letter, accompanied by a document from your bank containing your new banking details. All requests for change must be signed by the beneficiary himself/herself and received in original form or uploaded into MSS. Whenever submitting a new payment instruction please confirm the currency in which you wish to receive your benefit.
May I provide the changes by fax or by e-mail?
No. The UNJSPF does not accept changes to payment instructions by facsimile or by e-mail.
How much time must I allow for these new instructions to take effect?
Normally Change of Payment Instructions are processed for the next payroll following receipt of the request. Please note that the payroll is finalized by no later than the 9th or 10th of the prior month (i.e. by 10th September for the 1st October payroll). Thus, changes to banking instructions arriving after that payroll close cannot be processed until the following month. Please take these factors into consideration before closing your bank account and opening another one for receipt of your monthly benefit.
May I change my instructions at any time?
Yes, you may. However, we ask that you do not change your instructions more than once a year unless absolutely necessary.
May I change the currency in which I am paid whenever I wish?
Yes, you may. The exchange rate used to convert each quarter the amount payable into the currency of choice would be the UN monthly rate of exchange for the month prior to the quarter (i.e. for your benefit payment due on 1st May, the exchange rate of March would be utilized). Thus, your benefit payment in local currency remains stable only as long as the quarterly exchange rate remains un-changed. Please note that the currency requested should be a trading currency. Also, as for change of payment instructions, you should not change the currency of payment more than once a year.
If I am in receipt of more than one benefit, how many different payment instructions may I provide?
Beneficiaries who are in receipt of more than one benefit from the Fund are requested to submit the same payment instructions for all benefits.