On 24 December 2024, the United Nations General Assembly (UNGA) adopted the annual resolution providing guidance and decisions on United Nations pension matters, including the UNJSPF 2025 administrative expenses.
Resolution A/RES/79/253 on the United Nations pension system has been published here. Below are the highlights of the resolution.
Approval of the Fund’s 2025 Administrative Budget
The UNGA approved the Fund’s 2025 administrative budget following the report of the Advisory Committee on Administrative and Budgetary Questions (ACABQ), with limited changes to the Pension Board’s proposal (see the 2024 Pension Board report to the UNGA here). The approved 2025 budget estimate for the administration of the Fund is US$156,944,800.
The Fund’s approved budget focuses on the implementation of the pension administration CARE Strategy (Client-focused, Accountable, Reliable, and Efficient) and on strengthening the capacity of the Office of Investment Management, to address a growing client base and an increasingly sophisticated portfolio asset allocation.
Amendments to the Regulations, Rules and Pension Adjustment System
The UNGA approved amendments to simplify and clarify the Regulations and Pension Adjustment System, including updates for small pensions.
The revised Regulations, Rules and Pension Adjustment System were published on the Fund’s website.
Solvency and investments
The UNGA stressed the importance of continuing to achieve a 3.5 per cent annual real rate of return to ensure the Fund's future solvency. The UNGA also requested the Secretary-General’s continued diversification of investments across developed, developing and emerging markets.
Additionally, noting the Fund’s real rate of return has markedly exceeded its long-term objective, the UNGA encouraged continued efforts by the Secretary-General to improve investment performance and requested the Secretary-General to strengthen efforts to implement his impact investing strategy, including in developing and emerging markets.
Other matters
In welcoming the progress made on the adoption of the Digital Certificate of Entitlement, the UNGA encouraged further improvements in its user-friendliness and utilization rates.
The UNGA emphasized the importance of the UNJSPF addressing all accepted recommendations from the Board of Auditors and the Office of Internal Oversight Services in a timely manner.
Following the issuance of the General Assembly resolution, the Organization for the Prohibition of Chemical Weapons (OPCW) becomes a member of the Fund with effect from 1 January 2025.
