The Fund aimed at achieving the following in 2024 :
An updated “C.A.R.E. Strategy for 2024 and Beyond” (Client-focused, Action-oriented, Relations-builder, and Efficiency-driven) was endorsed by the Pension Board at its 78th session (July 2024). The most recent report on the progress of the C.A.R.E strategy 2024 and beyond can be found here.
In addition to geographic diversity, the Fund strives to ensure gender diversity and inclusivity across gender and geographic representation amongst its staff at all levels in line with the United Nations-wide Strategy on Gender Parity, we also aim to provide meaningful opportunities for career growth. We strive to foster a culture of respect to ensure that everyone’s voice is heard.
For 2024, our related goals are to:
Our goal is to position the Fund as a leader in responsible investment while maximizing returns. We also aim to reduce the environmental impact of the Fund’s own operations in line with the targets set by the United Nations Secretariat Climate Action Plan.
We will achieve this by:
In 2024, we continued to ensure that the Fund has adequate resources and processes in place to follow best practices for risk management:
Our primary goal is to serve the needs and service expectations of our stakeholders efficiently and cost-effectively. To this end, we plan to:
The UNJSPF (“Fund”) is committed to providing security and peace of mind for our clients, which include participants, retirees and beneficiaries. As an investment fiduciary, the Fund safeguards the welfare of its stakeholders and is committed to ensuring the sustainability of the assets. In the administration of contributions and benefits, the Fund strives to provide outstanding, high-quality services in line with its C.A.R.E. Strategy (Client-focused, Action-oriented, Relations-builder, and Efficiency-driven).
Below is an overview of focus areas for achieving the Fund institutional goals and mitigating risks.
The C.A.R.E. Strategy was launched by the Chief Executive of Pension Administration (CEPA) in 2021. The strategy has three interrelated priorities: improving client experience, strengthening the relationship with stakeholders, and modernizing pension services. The Fund leadership regularly monitors the implementation of the strategy through key performance indicators and takes corrective action as needed. Updates on its implementation are provided to the Pension Board. A monitoring report is published on the Fund website bi-annually.
In 2023, the CEPA continued to implement the C.A.R.E Strategy with a focus on integrating modern technologies and instilling continuous improvement into business practices.
In addition to geographic diversity, the Fund strives to ensure gender diversity and inclusivity across gender and geographic representation amongst its staff at all levels in line with the United Nations-wide Strategy on Gender Parity, we also aim to provide meaningful opportunities for career growth. To this end, we have sought to:
Achievements:
Entering 2023, the Fund’s primary objectives regarding responsible investment were to:
Achievements:
In 2023, the Fund maintained an updated governance structure, risk-management processes, and internal and external oversight mechanisms to better identify, assess, manage, monitor and report on the risks inherent to its strategy and operations, in regard to both pension administration and investment management.
Key non-investment risk factors and risk governance and management practices are outlined in the Fund’s Statement of Internal Control, which is annexed to the Financial Statements and available here.
Achievements:
The Fund strengthened its incorporation of several non-investment risks, including:
The Fund continuously pursues information technology enhancements to strengthen and modernize its operations and services.
Achievements: