The UN Pension Board Rejects an Audit of Its Work

The United Nations Pension Board’s recent meeting in Rome ended with a record number of disagreements and much acrimony. The chief cause of distress was the results of the internal governance audit requested last December by the General Assembly. At the meeting, held July 29 to Aug. 3, board members directed much of their angst … Read more

WORLDVIEWS

Long Overdue: A New Boss at the UN Pension Fund and a Reformed Board

An important change was made to the United Nations pension fund last month, when Secretary-General António Guterres announced he was appointing Sudhir Rajkumar of India to succeed Carol Boykin as his representative for investments of the $61.5 billion fund. Guterres needs to make another major change, however, to address serious problems at the joint staff … Read more

WORLDVIEWS

The UN Pension Fund’s Leaders Must Go

The General Assembly resolution passed in December could not have been clearer: the United Nations pension fund has failed to deliver on both the investment side, led by Carol Boykin, and the secretariat side, led by Sergio Arvizú. The resolution came on the heels of critical reports documenting massive foreign-exchange losses, low investment income and … Read more

WORLDVIEWS

UN Secretary-General Guterres: Please Protect Our Pension Fund

United Nations staff members and retirees, concerned for many years about low-investment performance by our $54 billion pension fund and unprecedented delays in benefit payments, welcomed the adoption last December of a General Assembly resolution that allayed worries about attempts to privatize the fund. The resolution reaffirmed that UN financial rules and regulations remain the governing … Read more

The UN General Assembly Urges the $54 Billion Pension Fund to Shape Up

The United Nations General Assembly sharply rebuked the United Nations Pension Fund, which it oversees, reaffirming control of the $54 billion account by the UN Secretariat and calling on the fund to improve its problematic performance and service to its 72,000 beneficiaries. The strongly worded resolution came amid other resolutions being finalized at the tail … Read more

Double your impact. Support nonprofit journalism.

Skeptics Still Question the Status of the UN’s $54 Billion Pension Fund

Twenty months after the staff union accused management of the United Nations’ $54.5 billion pension fund of “massive fraud,” controversy over its structure and performance remains on a low boil. While the UN’s Office of Internal Oversight Services dismissed fraud allegations, a near perfect storm of management restructuring, a software fiasco and a weak global … Read more

Double your impact. Support nonprofit journalism.
Left Menu Icon

Sign up to get the smartest news on the UN by email, joining readers across the globe.

We respect your privacy and take protecting it seriously

Don’t Miss a Story:

Subscribe to PassBlue