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1
Takes note of the recommendation of the United Nations Joint Staff Pension Board contained in paragraph 28 of its report68 to increase the rate of contribution, and decides that the increase in the rate of contribution from
21. 7 5 to 22. 50 per cent of pensionable remuneration shall be implemented in two stages: on 1 July 1988 from 21. 75 to 22.20 per cent of pensionable remuneration, of which the employing member organization shall pay 14.8 per cent and the participant 7.4 per cent, and on 1 July 1989 from 22.20 to 22.50 per cent ofpensionable remuneration, of which the employing member organization shall pay 15 per cent and the participant 7.5 per cent;
2
Requeststhe United Nations Joint Staff Pension Board:
a
To continue studying ali possible measures to restore over the long term the actuaria! balance of the Fund,
bearing in mind the desirability of avoiding further increases in the rate of contribution and of reviewing the rate of contribution should there be an actuaria! surplus in the future;
b
To submit an interim report to the General Assembly at its forty-third session and, in any event, to complete its study for presentation to the Assembly at its fortyfourth session, together with the results of the twentieth actuaria! valuation of the Fund as at 31 December 1988;
3
Approves, with effect from 1 January 1989, the changes in the size and composition of the United Nations Joint Staff' Pension Board and of the United Nations Staff' Pension Committee, as indicated in paragraphs 87 and 91 of the report of the Board;68 4.
Requeststhe United Nations Joint Staff' Pension Board, taking into account the views expressed in the Fifth Committee, to keep under review the composition of the Board and the proportionate representatton of the General Assembly and of the governing bodies of the other member organizations in the Board, and to report thereon to the Assembly at its forty-sixth session;
68 /bid., Supplement No. 9 (A/42/9 and Corr. l ).
69 A/42/682.
Amends, with effect from 1 January 1989, articles 5 and 6 of the Regulations of the United Nations Joint Staff Pension Fund as set forth in the annex to the present resolution;
6
Amends, with effect from 1 July 1988, article 25 of the Regulations of the United Nations Joint Staff Pension Fund as set forth in the annex to the present resolution;
11. CHANGES IN THE PENSION ADJUSTMENT SYSTEM 1.
Takes note of section 111.D of the report of the United Nations Joint Staff Pension Board68 with respect to the review of the two-track pension adjustment system, of the intention of the Board to continue to monitor the operation of the system, and of the related views of the Advisory Committee on Administrative and Budfetary Questions contained in paragraph 22 of its report; 9 2.
Takes note of section III.E of the report of the United Nations Joint Staff Pension Board on inequalities of benefits caused by different dates of separation and of the related views of the Advisory Committee on Administra ti ve and Budgetary Questions contained in paragraph 9 ofits report, and approves, asan interim emergency measure, with effect from 1 January 1988, and without retroactive eff'ect, the changes in the pension adjustment system 70 as set out in annex XI to the report of the Board, while emphasizing that this measure would apply from 1 January 1988 to 31 December 1990 and would not constitute an acquired right;
III
EMERGENCY fUND Authorizes the United Nations Joint Staff Pension Board to supplement the voluntary contributions to the Emergency Fund, for the biennium 1988-1989, by an amount not exceeding $200,000;
IV.ADMINISTRA TIVE EXPENSES
Noting the decision of the United Nations Joint Staff Pension Board to hold its next regular session in 1989;
Approves expenses, chargeable directly to the United Nations Joint Staff Pension Fund, totalling $22,877,400
net
for the biennium 1988-1989 and additional expenses of $472,900 (net) for the biennium 1986-1987, for the administration of the Fund;
V
INVESTMENTS OF THE UNITED NATIONS JOINT STAFF PENSION FUND Takes note ofthe report ofthe Secretary-General on the investments of the United Nations Joint Staff' Pension Fund.71
VIII.
ANNEX Amendments to the Regulations of the United Nations Joint Staff Pension Fund
Article 5
UNITED NATIONS JOINT STAFF PENSION BOARD Replace paragraph (a) by the following text:
"(a) The United Nations Joint Staff Pension Board shall consist of: "(i) Twelve members appointed by the United Nations Staff Pension Committee, four of whom shall be from the members and alternate members elected by the General Assembly, four from those appointed by the Secretary-General, and four from those elected by the participants in service in the United Nations; and "(ii) Twenty-one members appointed by the staff pension committees ofthe other member organizations in accordance with the Rules of Procedure of the Fund, seven of whom shall be from the members and alternate members chosen by the bodies ofthe member organizations corresponding to the General Assembly,
seven from those appointed by the chief administrative officers of the member organizations, and seven from those chosen by the participants in service."
Article 6
STAFF PENSION COMMITTEES Replace paragraph (a) by the following text:
"(a) The United Nations Staff Pension Committee shall consist of four members and four alternate members elected by the General Assembly, four members and two alternate members appointed by the Secretary-General, and four members and two alternate members, who shall be participants in the Fund and on the staff of the United Nations, elected by the participants in service in the United Nations by secret ballot."
Article 25
CONTRIBUTIONS Replace paragraph (a) by the following text:
"(a) Contributions by the participant and by the employing member organization shall be payable to the Fund concurrently with the accrual of contributory service under article 22 (a) al the percentage rates of pensionable remuneration specified below:
A B
Employing member Participants organizations Far periods of contributory service (percentage)
(percentage)
Befare 1984 7.00 14.00 As from 1 January 1984 to 30 June 1988 ........
25 14.50 As from 1 July 1988 to 30 7.40 14.80 As from 1 July 1989 7.50 15.00"
