Highlights of the 2019 UN General Assembly resolution related to pension matters

The 2019 UN General Assembly (UNGA) resolution on pension matters has just been published. As a reminder, the UNGA is the main governing body of the UN Pension Fund (UNJSPF). Highlights of the 2019 UNGA resolution are summarized below.

 

Governance

You may recall that in 2018 the UNGA created a position of secretary of the Pension Board independent from the head of the Pension Fund.

The 2019 UNGA resolution defined the new title of the head of the Fund as “Chief Executive of Pension Administration” and decided that the position of Secretary of the Pension Board shall be filled as a temporary arrangement using the D1 post in the Geneva Office of the UNJSPF, corresponding to the position of Chief of the Office.

The UNGA requested the Chief Executive of Pension Administration to engage promptly an independent external entity to conduct a comprehensive and objective analysis on governance, giving due regard to best practice standards of pension funds on this matter.

 

Pension Administration

The UNGA requested the Pension Administration to continue to adhere to the target of 15 business days for benefit processing and to ​make every effort to reduce the number of open workflows in the Fund’s ERP (IPAS) including ​establishing benchmarks to measure progress in their reduction.

The UNGA further stressed the importance of having a consistent benefit processing rate, as well as maintaining the quality of service provided to clients and requested the Chief Executive of Pension Administration to maintain appropriate parallel characteristics of the Geneva Office.

 

2020 Administrative Budget

 The UNGA approved for 2020 a budget of 100,681,300, of which USD 92,899,100, chargeable directly to the Pension Fund and USD 7,782,200 as the United Nations share of the cost of the administrative expenses of the Fund.

For reference purposes, the UN General Assembly approved the revised estimate of USD 184,916,800 for the biennium 2018-2019.

 

To read the full text of the UNGA resolution, please click here (page 6-13).

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