Response to the Current Allegations about Mismanagement of the Pension Fund
In the last two weeks the Staff Unions of the United Nations in New York and Geneva have again started circulating serious allegations about the management of our United Nations Joint Staff Pension Fund. As President of ARICSA, I cannot support the manner that these allegations are being circulated and I wish to assure you that ARICSA is in contact with various officials and will keep you informed of any developments.
The Pension Fund is one of the most highly watched funds that I know. Because of its unique nature the Pension Fund oversight is multifaceted: the Pension Fund is a special UN body - the only one that accepts income from staff and pays monthly sums of money (namely our pensions) to people around the world. It has twenty three member organizations. Investments are managed by the UN Investment Management Division on behalf of the Pension Fund. Oversight includes not only the UN's internal audit and external audit, but also the Pension Board, the Assets and Liabilities Monitoring Committee, an additional Pension Fund Audit Committee and a Risk Management Working Group.
The Pension Fund is not about to be 'privatized' or in any way separated from its current regulatory framework. The investment policy is not about to change. Our pensions are not in danger. On the contrary, the value of the fund is at its highest ever and the actuarial balance is better than any time since 2007.
Concerning the serious allegations of fraud and hiring abuses, I find it strange that the staff representatives chose to go first to public 'town hall' meetings without first having established facts through the several oversight opportunities. It seems to me that such actions are inflammatory and hinder, rather than help, the work of the Pension Fund.
The CEO of the Pension Fund has issued a statement to all participants and beneficiaries. You may read the statement here:
Update April 11: A Statement by the Under Secretary General for Management can be found here Statement by USG Mgmt 20150410.pdf
n.b. You will need to sign in with the usual userid and password.