UN Pension Fund
- Opinion by Loraine Rickard-Martin
- • April 28, 2022
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United Nations Secretary-General António Guterres has paused his plan to further outsource the management of the $86 billion UN pension fund’s assets to Wall Street. The plan to allow an additional 18 percent of the fund’s assets to investment companies …
- Categories: OPINIONS, UN Pension Fund
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- Opinion by Lowell Flanders
- • July 17, 2021
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When the market for mortgage-backed securities — derivatives — exploded in 2008, the investment guru Warren Buffet called them “financial weapons of mass destruction.” The crisis was the worst American economic disaster to occur since the Great Depression. In the …
- Categories: General Assembly, OPINIONS, Secretary-General, UN Pension Fund
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- Loraine Rickard-Martin
- • December 23, 2020
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At the $79.4 billion United Nations pension fund, continuing tensions came to a head this month when the UN participant representatives to the pension board — elected representatives of 85,000 active UN staff members — wrote on Dec. 2 to the …
- Categories: UN Pension Fund
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- Loraine Rickard-Martin
- • November 12, 2020
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A new governance study has confirmed what many United Nations Joint Staff Pension Fund observers have long surmised: there are significant variances between the fund’s own operations and best practices and those of pension funds elsewhere. The areas reviewed by …
- Categories: General Assembly, Secretary-General, UN Pension Fund
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- George G. Irving and Sugiyama Iutaka
- • April 28, 2020
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In the middle of the coronavirus epidemic, the United Nations spokesperson announced that Sudhir Rajkumar resigned from his job as representative of the secretary-general for investment of the assets of the UN Joint Staff Pension Fund, effective March 31, 2020. The …
- Categories: Covid-19, UN Pension Fund
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- Loraine Rickard-Martin
- • October 10, 2019
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Since 2014, when staff members of the United Nations Pension Fund blew the whistle on serious mismanagement in its secretariat, a change in leadership has been made on both sides — assets and liabilities — of the $67.4 billion fund. …
- Categories: Secretary-General, UN Pension Fund
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- Loraine Rickard-Martin
- • August 27, 2018
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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 …
- Categories: General Assembly, Secretary-General, UN Pension Fund
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- Opinion by Loraine Rickard-Martin
- • November 15, 2017
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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 …
- Categories: OPINIONS, Secretary-General, UN Pension Fund
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- Opinion by Loraine Rickard-Martin
- • March 30, 2017
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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 …
- Categories: OPINIONS, UN Pension Fund
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- Opinion by Loraine Rickard-Martin
- • March 2, 2017
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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 …
- Categories: OPINIONS, Secretary-General, UN Pension Fund
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- Susan Manuel
- • January 2, 2017
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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 …
- Categories: UN Employment, UN Pension Fund
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- Susan Manuel
- • September 6, 2016
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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 …
- Categories: UN Pension Fund
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