UN appoints Adeosun into pension fund’s investment panel

The Minister of Finance, Mrs. Kemi Adeosun, has been appointed into the Investments Committee of the United Nations Joint Staff Pension Fund.

A statement from the ministry on Sunday said the Under-Secretary-General of the UN, Jan Beagle, confirmed Adeosun’s appointment.

Beagle, the statement noted, said Adeosun would serve a one-year term from January 1, 2018.

It quoted Beagle to have said, “On behalf of the secretary-general, I have the honour to inform you that at the 55th plenary meeting of the 72nd 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 the 1st of January, 2018.

“I would like to take this opportunity to congratulate you on your appointment and wish you success in your work.”

The Representative of the UN Secretary-General on the Investments Committee of the UNJSPF, Ms. Carolyn Boykin, also congratulated Adeosun on her appointment and welcomed her to the panel.

Boykin explained that the purpose of the investment of the UNJSPF was to secure the pension entitlements of the international civil servants who participate in the Fund.

“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 jeopardising the capital of the Fund by taking excessive risks,” Boykin stated.

Adeosun, according to the statement, has accepted her appointment into the committee.

The UNJSPF is a Fund that provides pension, death, disability and the other related benefits for staff of the United Nations and the other organisations admitted to membership in the Fund.

It is a multiple employer defined benefit plan and governed by the United Nations Joint Staff Pension Board, the Staff Pension Committee for each member organisation, and a secretariat to the UNJSPB and to each such committee.
Credits/Sources: www.punchng.com