While such investment in long term productive assets like infrastructure is essential to generating the income that these investors demand, less than 1 of pension fund assets are allocated directly to infrastructure projects.

Comment by the Administration. The Pension Fund indicates that it is looking for a comparable pension fund and will review the practices of other pension funds.

United Nations Joint Staff Pension Fund

UNJSPF United Nations Joint Staff Pension Fund

Changes in the pension adjustment system of the United Nations Joint Staff Pension Fund

Changes to the pension adjustment system of the United Nations Joint Staff Pension Fund

Gross pensionable salary is the basis for determining Pension Fund contributions under article 25 of the Regulations of the United Nations Joint Staff Pension Fund and for determining pension benefits.

Gross pensionable salary is the basis for determining Pension Fund contributions under article 25 of the Regulations of the United Nations Joint Staff Pension Fund and for determining pension benefits.

The primary objective of an asset and liability study is to identify the optimal mix of strategic assets (i.e., equities vs. fixed income) for a pension fund.

Objective 2. Manage risks properly, strengthen safeguards for the protection of the assets of the Pension Fund, and maintain compliance with the regulations and rules of the Fund and with the decisions, mandates and guidelines issued by the United Nations Joint Staff Pension Board and the General Assembly.

Investments of the United Nations Joint Staff Pension Fund

The Pension Fund is a funded defined benefit plan.

(v) United Nations Joint Staff Pension Fund Standing Committee

United Nations Joint Staff Pension Fund statistics, 1995 2004

The Pension Fund is a funded defined benefit plan.

The rules and regulations of the United Nations Joint Staff Pension Fund provide that the investment of the assets of the Fund will be decided upon by the Secretary General, who has delegated fiduciary responsibility to a designated representative.

Administrative expenses of the United Nations Joint Staff Pension Fund

Administrative expenses of the United Nations Joint Staff Pension Fund

Administrative arrangements of the United Nations Joint Staff Pension Fund

Many have public pension funds of substantial magnitude, consisting of diversified portfolios of assets.

Diversification of investments of the United Nations Joint Staff Pension Fund

Administrative expenses of the United Nations Joint Staff Pension Fund (continued)

To exercise rights and identified requirements and interest to pension and disability insurance, the pension disability insurance fund was established.

The Chief will alert supervisors when the Fund is exposed to unwarranted risk, or to issues affecting the safety and custody of the assets, disclosure to Pension Fund participants, disclosure of potential conflict of interest and privacy protection of non public information.

STATEMENT OF ASSETS, LIABILITIES, RESERVES AND FUND BALANCES

Longer term administrative arrangements of the United Nations Joint Staff Pension Fund

Amendments to the Regulations of the United Nations Joint Staff Pension Fund

62 241. Questions related to the United Nations Joint Staff Pension Fund

Amendments to the Regulations of the United Nations Joint Staff Pension Fund

a statement of assets, liabilities, reserves and fund balances

Administrative arrangements and revised budget of the United Nations Joint Staff Pension Fund

United Nations Joint Staff Pension Fund organization chart for the biennium 2004 2005

A supplementary funded pension is a benefit for the receipt of which units of a voluntary pension fund are acquired or an insurance contract for a supplementary funded pension is entered into.

United Nations Joint Staff Pension Board (including United Nations participation in the costs of the secretariat of the United Nations Joint Staff Pension Fund)

Administrative arrangements and longer term objectives of the United Nations Joint Staff Pension Fund

Figure 1 United Nations Joint Staff Pension Fund growth in active participants, 1994 2004

Figure 4 United Nations Joint Staff Pension Fund evolution of actuarial situation since 1990

United Nations Joint Staff Pension Fund proposed organization chart for the biennium 2006 2007

Yet the typical investor in dollar denominated assets whether a rich private individual, a pension fund, or a central bank has not taken the steps to protect themselves against the very likely dollar decline in our future.

A mandatory funded pension is a periodic benefit which is guaranteed pursuant to law, for the receipt of which units of a mandatory pension fund are acquired according to the Funded Pensions Act and the Social Tax Act and which is paid from the pension fund or by an insurer.

In developing countries alone, pension funds, insurance companies, and mutual funds hold assets worth more than 6 trillion, and these assets are growing at an annual rate of 15 .

Comment by the Administration. The Office of Internal Oversight Services has recruited a new chief of section who has experience in financial services and pension fund issues, and is in the process of recruiting a pension fund audit specialist.

Figure 2 United Nations Joint Staff Pension Fund growth in periodic benefits in payment, 1994 2004

The generic decision making process for long term asset allocation for an ongoing pension fund is

This makes men and women eligible for General Provident (G.P.) Fund, Gratuity and other pension benefits.