Nigeria’s Minister of Finance, Mrs. Kemi Adeosun has been drafted into the Investments Committee of the United Nations Joint Staff Pension Fund (UNJSPF) for a one year service.
Established through UN General Assembly resolution 248 (III) (passed December 1948), the Fund came into effect on January 23, 1949 making it a permanent retirement scheme within the United Nations structure.
Confirming Adeosun’s appointment, UN Under-Secretary-General, Jan Beagle, said the Minister’s one-year service term took effect from January 1, 2018.
A statement by Beagle said; “On behalf of the Secretary-General, I have the honour to inform you that at the 55th plenary meeting of the seventy-second session of the General Assembly, the General Assembly decided to appoint you as an ad-hoc member of the Investments Committee for a one-year term of office, beginning from 1st January, 2018.”
“I would like to take this opportunity to congratulate you on your appointment and wish you success in your work”, the statement added.
Also, the Representative of the UN Secretary-General on the Investments Committee of the UNJSPF, Ms Carolyn Boykin, congratulated the Minister on her appointment and welcomed her to the Committee.
According to Boykin, the purpose of the UNJSPFs investments is to secure the pension entitlements of the international civil servants who participate in the Fund.
She explained that; “The fiduciary responsibility is to all parties concerned and it is the responsibility of the Secretary-General to ensure that those investments are managed to preserve the capital of the Fund and to obtain a long-term real rate of investment return that is line with the actuarial assumptions, without jeopardizing the capital of the Fund by taking excessive risks.”
UNJSPF is a Fund that provides UN pension, death, disability and the other related benefits for staff of the United Nations and the other organizations admitted to membership in the Fund.
It is a multiple employer defined benefit plan and governed by the United Nations Joint Staff Pension Board (UNJSPB), the Staff Pension Committee for each member organization, and a secretariat to the UNJSPB and to each such committee.
The Fund currently serves 23 member organizations, with 128,262 active participants and approximately 75,000 retirees in nearly 200 countries.
Meanwhile, a statement by the Special Adviser, Media and Communications to the Minister of Finance, Oluyinka Akintunde said Mrs Adeosun has accepted her appointment into the UNJSPF.
