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UN appoints Adeosun into pension fund investment committee

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

The development was made known to newsmen on Sunday in a statement the minister’s Special Adviser, Media and Communication, Mr Oluyinka Akintunde, released in Abuja, disclosing that she would serve a one-year term.

Her appointment which according to the statement became effective from January 1, 2018, was communicated in a letter by the UN Under-Secretary-General, Jan Beagle. The letter said that the appointment was ratified at the 55th plenary meeting of the 77th session of the General Assembly.

The letter read, “The General Assembly decided to appoint you as an ad-hoc member of the Investment 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.”

Akintunde also stated in the statement that the representative of the UN Secretary-General on the Investments Committee, Ms Carolyn Boykin, congratulated Adeosun on her appointment.

Boykin was quoted as saying that the function of the investments was to secure the pension entitlements of the international civil servants participating in the Fund.

She said, “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.

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“And to also obtain a long-term real rate of investment return that is in line with the actuarial assumptions, without jeopardising the capital of the Fund by taking excessive risks.”

The UNJSPF offers pension, death, disability and the other associated profit for staff of the United Nations and other organizations admitted to membership in the Fund.

 

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