United Nations Pension System

A/RES/79/253No PDF available

Who created this mandate?

A Resolution of the General Assembly, under agenda item 148United Nations pension system, published in 2024.

What other versions does this mandate have?

24 versions · 1987–2024

2024A/RES/79/253United Nations pension systemLatestCompare with previous version
2023A/RES/77/258United Nations pension systemCompare with previous version
2021A/RES/75/246United Nations pension systemCompare with previous version
2019A/RES/73/274United Nations pension systemCompare with previous version
2017A/RES/71/265United Nations pension systemCompare with previous version

Versions are identified automatically by matching titles within the same organ (~97% accuracy on a manual audit).

What subjects does this mandate have?

11 topics

Auditing Financial Management Financial Statements Governance Investments Pension Funds Pensions Programme Budgeting Programme Planning Risk Management Staffing

What does this mandate say?

24 operative paragraphs

Takes note of the report of the United Nations Joint Staff Pension Board;

Also takes note of the reports of the Secretary-General on the investments of the United Nations Joint Staff Pension Fund and measures undertaken to increase the diversification of the Fund and on the administrative and financial implications arising from the report of the United Nations Joint Staff Pension Board;

Further takes note of the reports of the Chief Executive of Pension Administration and the Representative of the Secretary-General for the investment of the assets of the Fund on the implementation of the recommendations of the Board of Auditors contained in its report for the year ended 31 December 2023 on the Fund and on the revised estimates for the Fund arising from the effect of changes in rates of exchange and inflation;

Endorses the conclusions and recommendations of the Advisory Committee on Administrative and Budgetary Questions, subject to the provisions of the present resolution;

Emphasizes the existing prerogative of the General Assembly on matters pertaining to the Fund;

Takes note with appreciation of the work of the United Nations Joint Staff Pension Board, and welcomes the decisions and recommendations contained in its report;

Financial statements of the United Nations Joint Staff Pension Fund and report of the Board of Auditors

Acknowledges the commitment of the Pension Fund to manage long-standing recommendations of the Board of Auditors, and reiterates the importance of the secretariat of the Fund, the Pension Board and the Representative of the Secretary-General addressing all the accepted recommendations of the Board of Auditors and the Office of Internal Oversight Services, in full and in a timely manner, and of reporting thereon in the next report to the General Assembly;

Actuarial matters

Stresses the importance of continuing to achieve the necessary 3.5 per cent annual real rate of return on a long-term basis for the future solvency of the Fund;

Pension Administration

Welcomes the progress made on the adoption of the digital certificate of entitlement and invites the Fund to identify ways to continue to improve the user-friendliness of the digital certificate of entitlement and to increase its rate of utilization, and requests the Pension Administration to provide an update on this, on progress on the reduction of risks and fraud and overpayment, and on measures to ensure its cost-effective implementation, in the context of its next report;

Notes that small pensions have not been adjusted since 2016 and before that 1995, and decides to approve the amendments aimed at simplifying and clarifying the Regulations and Pension Adjustment System of the Fund and updating the special adjustment for small pensions, as set out in annexes IV and V to the report of the Pension Board, and welcomes further information on the future methodology, to be presented in the context of the next report;

Investments of the United Nations Joint Staff Pension Fund

Reaffirms that the Secretary-General serves as fiduciary for the investment of the assets of the Fund, and also reaffirms that the investment of the assets of the Fund shall be decided upon by the Secretary-General after consultation with an Investments Committee, which plays an important role, and in the light of observations and suggestions made from time to time by the Pension Board on the investments policy;

Recalls paragraph 22 of section XIII of its resolution 76/246 A of 24 December 2021, and requests the Secretary-General to continue to diversify investment of the assets of the Fund among developed, developing and emerging markets, wherever this serves the interests of the participants and the beneficiaries of the Fund, and ensure that decisions in any market are implemented prudently, taking fully into account the four investment criteria, namely, safety, profitability, liquidity and convertibility, and to provide an update to the General Assembly on efforts being made to this end, including information on investments by country and geographical region and by currencies and assets, in the context of his next report;

Notes that the annual real rate of return of the Fund for the 15-year period remained markedly above the long-term objective of 3.5 per cent, and encourages the Fund to continue its efforts to improve the performance of its investments and identify suitable comparators with peers from various countries and provide a comparison thereof in the context of its next report;

Recalls paragraph 21 of section XIII of its resolution 76/246 A as well as paragraph 18 of its resolution 77/258, and requests the Secretary-General to strengthen his efforts to implement the Fund’s strategy on impact investing for part of the portfolio, including in developing and emerging markets, such as Africa and Asia and other regions, with a view to generating positive social and environmental impact alongside the financial returns, and to update the General Assembly in his next report;

Budget estimates for 2025

Recalls paragraph 21 of the report of the Advisory Committee, and requests the Fund to undertake an evaluation of the staffing requirements, including new posts, and to incorporate into the next budget proposals an analysis of the vacant posts, according to category, grade, year of approval and time since vacancy, among other factors;

Recalls paragraphs 39, 40 and 50 of the report of the Advisory Committee, and decides not to approve the establishment of one Senior Information System Officer (P-5) post, one Senior Finance and Budget Assistant (General Service (Principal level)) post, one Programme Management Officer (P-4) post, one Risk Officer (P-3) post and one Programme Management Officer (P-3) post;

Takes note of paragraph 33 of the report of the Advisory Committee;

Recalls paragraph 55 of the report of the Advisory Committee, and decides to further reduce the proposed increases under contractual services and consultants by 5 per cent;

Approves the changes to the staffing table as set out in the table below:

A.Secretariat of the Pension Board

B.Pension Administration

C.Office of Investment Management

D.Audit

Abbreviations: GS (OL), General Service (Other level); GS (PL), General Service (Principal level).

Also approves the estimates of 156,944,800 United States dollars for the administration of the Fund for 2025;

Further approves expenses, chargeable directly to the Fund, totalling 151,456,000 dollars net for 2025;

Approves the amount of 5,488,800 dollars as the cost of the services provided by the United Nations Joint Staff Pension Fund to the secretariat of the United Nations Staff Pension Committee for 2025, of which 3,342,700 dollars would represent the share of the regular budget and the balance of 2,146,100 dollars would represent the share of the funds and programmes;

Also approves the decrease of 1,845,900 dollars in the United Nations share of the cost of the administrative expenses of the central secretariat of the Fund under section 1, Overall policymaking, direction and coordination, of the proposed programme budget for 2025;

Authorizes the Pension Board to supplement the voluntary contributions to the Emergency Fund for 2025 by an amount not to exceed 112,500 dollars.

55th (resumed) plenary meeting

24 December 2024

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