Dear UNJSPF participants, retirees and beneficiaries:

Over the past few days, global equity markets have experienced significant volatility. In light of this extraordinary event, we would like to provide an update on your Pension Fund’s current status. With a target allocation of 43% to public equities, the Fund has been affected by recent valuation losses. As of 4 April 2025, the market value of the portfolio stood at US$92.9 billion, reflecting a 2.9% decrease in asset value over one week.

As a defined benefit pension plan, the Fund is designed for long-term stability, with diversified asset classes, and designed to withstand short-term market volatilities. Short-term market fluctuations do not impact the final pension amount received by beneficiaries.

Despite the recent market impact, the Fund remains financially strong. The current market value of assets at US$92.9 billion exceeds the accrued benefit liabilities of US$83.2 billion, a key stress test indicator of the solvency of our Fund. This confirms that the Fund has sufficient resources to meet all expected future benefits, even in the theoretical scenario where all participants were to separate immediately.

For more information, please refer to our 13 March 2025 Q&A on the Solvency and Sustainability of the Fund, which addresses frequently asked questions pertaining to the state of our Fund. The actuarial data supporting the Fund’s solvency can be found here: Actuarial Matters.

The UNJSPF is here for the long-term to provide financial security for our participants, retirees and beneficiaries. For weekly and monthly updates, please visit the Historical Fund Performance page.