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Attention Retirees and Beneficiaries: Cost-of-living Adjustment to the US Dollar Track in April 2024

1 March 2024

In accordance with the UNJSPF Pension adjustment system and based on CPI (consumer price index) data from the Monthly Bulletin of Statistics (MBS) published by the UN Statistics Division, there will be a 3.4 percent cost-of-living adjustment (COLA) to the US dollar track of periodic benefits for this year, effective 1 April 2024.

More on Cost-of-Living Adjustment

The applicable COLA adjustments for all countries of residences will be applied effective 1 April 2024. Cost-of-Living Adjustment (COLA) letters with these details will be issued by the end of April 2024. All beneficiaries who registered for access to their UNJSPF Member Self-Service (MSS) account will be able to access their COLA letter in MSS under the DOCUMENTS tab. Your initial benefit is adjusted over time for movements of the consumer price index in the United States if you are on the dollar track. If you have opted for the two-track system, your pension amount will be adjusted also taking into account the movements of the CPI of your country of residence. For more information about the two-track system, click here.

How often is my benefit adjusted for the cost of living?

Normally, benefits are adjusted for the cost of living once a year, provided that the CPI has moved by at least 2 per cent since the date of the last adjustment. Such adjustments are normally undertaken in April of the following year. However, in high-inflation situations, i.e. where the consumer price index has moved by 10 per cent or more since the date of the last adjustment, benefits are adjusted semi-annually, on 1 April and 1 October.

For more information on cost-of-living adjustment, please click here.

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