The Fund

The United Nations Joint Staff Pension Fund was established in 1948, by a resolution of the General Assembly, to provide retirement, death, disability and related benefits for staff upon cessation of their services with the United Nations, under Regulations that, since then, have been amended at various times.

As an independent inter-agency entity, the Fund operates under its own Regulations as approved by the General Assembly and, in accordance with its governance structure, is administered by the United Nations Joint Staff Pension Board, which currently consists of 33 members, representing the 23 member organizations that are listed below:

  1. United Nations
  2. European and Mediterranean Plant Protection Organization
  3. Food and Agriculture Organization of the United Nations
  4. International Atomic Energy Agency
  5. International Centre for Genetic Engineering and Biotechnology
  6. International Centre for the Study of the Preservation and the Restoration of Cultural Property
  7. International Civil Aviation Organization
  8. International Criminal Court
  9. International Fund for Agricultural Development
  10. International Labour Organization
  11. International Maritime Organization
  12. International Organization for Migration
  13. Inter-Parliamentary Union
  14. International Seabed Authority
  15. International Telecommunication Union
  16. International Tribunal for the Law of the Sea
  17. Special Tribunal for Lebanon
  18. United Nations Educational, Scientific and Cultural Organization
  19. United Nations Industrial Development Organization
  20. World Health Organization
  21. World Intellectual Property Organization
  22. World Meteorological Organization
  23. World Tourism Organization

One third of the Board members are chosen by the General Assembly and the corresponding governing bodies of the other member organizations, one third by the executive heads of those organizations and one third by the participants in the United Nations Joint Staff Pension Fund. The Board reports to the General Assembly on the operations of the Fund and on the investment of its assets. When necessary, it recommends amendments to the Regulations and to the Fund’s Pension Adjustment System, which govern, inter alia, the rates of contribution by the participants (currently 7.9 per cent of their pensionable remuneration) and by the organizations (currently 15.8 per cent), eligibility for participation and the benefits to which participants and their dependants may become entitled.

In addition to the Board, the following Committees assist in the governance of the Fund.

United Nations Joint Staff Pension Fund Board (UNJSPB)

The Fund is administered by the United Nations Joint Staff Pension Board, a staff pension committee for each member organization and a secretariat to the Pension Board and to each staff pension committee. The Pension Board reports to and formulates recommendations for approval by the United Nations General Assembly. It is composed of 33 members; 11 members represent Governing Bodies, 11 members appointed by the chief administrative officers of the member organizations, and 11 members elected by participants in service. In addition, there are 4 representatives of retirees on the Pension Board.

Standing Committee

The Pension Board appoints a Standing Committee that has the power to act on behalf of the Board when the latter is not in session.  The Committee also considers appeals of decisions of the Staff Pension Committees by participants and of decisions of the Chief Executive Officer of the Fund by retirees and other beneficiaries. The Committee is composed of 15 members; 5 represent the Governing Bodies of the member organizations, 5 members appointed by the chief administrative officers of the member organizations, and 5 members elected by participants in service.  In addition, there are 2 representatives of retirees on the Standing Committee.

Investments Committee

The Committee consists of 9 members (plus ad hoc members) appointed by the UN Secretary-General after consultation with the Pension Board and the UN Advisory Committee on Administrative and Budgetary Questions, subject to confirmation by the UN General Assembly.

Committee of Actuaries

The Committee consists of 5 (plus ad hoc members) independent actuaries appointed by the UN Secretary-General upon the recommendation of the Pension Board.  The Committee advises the Pension Board on actuarial questions arising out of the operation of the Fund’s Regulations.

Staff Pension Committees

Among its functions, by delegation from the Standing Committee, the staff pension committee in each member organization has the power to determine incapacity for the purpose of award of disability benefits. Each Staff Pension Committee also reviews decisions of the Secretary of the Staff Pension Committee in respect of staff members of the member organization who are participants in the Fund.  Each Committee is composed of an equal number of members representing (i) the Governing Body, (ii) the chief administrative officer and (iii) the participants in service.

 

Securing the Fund's Future: In 2009, the Fund began working on changing its computer system. The old system (PENSYS) was running on an outdated mainframe computer, built on the COBOL programming language. The system had been built piecemeal and had 42 interfaces. Backups were made with tapes that were copied and the stored in fireproof boxes. Though it server the Fund well for more than 20 years, by 2015 it had become a serious risk. On 3 August, the Fund launched the new, UNJSPF-costumized "Integrated Pension Administration System" or IPAS. The design, specification, construction and implementation of this system is the most important operational undertaking by the Fund in its history. This was arguably one of the most complex pension payroll and entitlement system migrations in the world. A year after implementation, 850,000 payments were made correctly and on time in 15 currencies to more than 71,000 retirees and beneficiaries.

The Integrated Pension Administration System was launched in August 2015, it won 2 prizes (The JP Morgan Elite Quality Recognition Award and the ISO/IEC 270001:2013). Member Self-Service is a part of it and it was launched in August 2016

The United Nations Joint Staff Pension Fund is a subsidiary organ of the General Assembly established to provide retirement, death, disability and related benefits for the staff of the United Nations and the other organizations admitted to membership of the Fund.

 

Our Mission

Your Pension Security

Site designed and developed by Social Ink [+]

Top