INDEPENDENT REVIEW OF UNITED NATIONS JOINT STAFF PENSION FUND INVESTMENT MAIN PRACTICES, INVESTMENT MANAGEMENT AND RISK MANAGEMENT

Item Description:

1. At the request of the Pension Board at its sixty-third session in July 2016, the United Nations Joint Staff Pension Fund (UNJSPF or “Fund”) seeks to obtain the services of an independent third party (“Service Provider”) to conduct an independent assessment and peer-comparison of the Fund’s main practices, investment management and risk management. 2. The Service Provider will issue a comprehensive report to the Pension Board, via its Assets and Liabilities Monitoring Committee (“ALM Committee”), and to the Secretary-General with its review of the Fund’s main practices, investment management and risk management with the objective of assisting both the Secretary-General and the Fund’s Board in identifying ways to ensure or improve the financial sustainability of the Pension Fund by recommending, where applicable, possible measures to be considered by the Secretary-General to improve the effectiveness, efficiency, transparency, control and risk management of the Fund’s main practices, investment management and risk management and to ensure that the Fund’s long-term investment and financial management objectives are achieved in a manner consistent with the Fund’s established risk appetite and investment policy. 3. The Service Provider will conduct an independent review of UNJSPF main practices, investment management and risk management independently and in relation to best practices and other public pension funds or financial institutions that are comparable to the Fund in size, scope and investment objectives. 5. The selected Service Provider will submit the results of the independent review to the Pension Board and to the Secretary-General and for consideration at its sixty-fourth session in July2017.

http://www.un.org/depts/ptd/pdf/eoi13358.pdf