Actuarial matters

Actuarial situation

The result of the actuarial valuation as at 31 December 2003 was an actuarial surplus of 1.14 per cent of pensionable remuneration.

Article 119 Insurance companies engaging in insurance of persons must appoint and employ actuarial professionals recognized by the financial supervision and regulation department and establish an actuarial reporting system.

Figure 4 United Nations Joint Staff Pension Fund evolution of actuarial situation since 1990

The actuarial report will show required contributions and imbalances, an analysis of gains and losses, calculations of the actuarial value of accrued benefits, hypothetical projection results over 30 years and the results of monitoring of the two track system.

The United Nations Joint Staff Pension Board approved their statement on the actuarial position of the Fund.

The Board of Auditors has repeatedly reported this issue, with no result so far other than an improved actuarial computation.

His delegation was pleased that the Fund's value had increased substantially and that actuarial valuations had shown surpluses since 1997.

UNODC has now received information on the actuarial valuation, which shows that the potential liability will substantially exceed available reserves.

3. Notes that the Board approved the recommendation of the Working Group to eliminate the 1.5 percentage point reduction in the first consumer price index adjustment due to existing and future beneficiaries, subject to an actuarial surplus being revealed in the actuarial valuation to be performed as at 31 December 2003

(a) Preparation of an actuarial valuation to be performed in 2006, on the basis of data as at 31 December 2005, including production of the formal report and preparation of various papers for the Committee of Actuaries and United Nations Joint Staff Pension Board pertaining to the regular actuarial valuation work.

Once accepted, the study would be conducted by a specialized consulting firm and carried out concurrently with the next actuarial valuation.

The actuarial valuation of the post retirement health insurance benefits of UNDP and the United Nations Secretariat is carried out jointly.

Creation of such a post would mitigate risk by improving the quality of the actuarial valuation and related projections, particularly in relation to demographic trends.

Ontario has also introduced the Ontario Domestic Assault Risk Assessment (ODARA), an actuarial risk assessment tool used by frontline police officers in cases involving male on female assault.

Principles

Principles

General principles

General principles

II. Principles

Overarching Principles

General principles

General Principles

General principles

General principles

General principles

Guiding principles

General principles

Principles of interpretation

Basic general principles

Basic general principles

Swimming, first principles.

Basic general principles

The Madrid Principles

The Paris Principles

Some basic principles

Objectives and principles

Principles and approaches.

Principles and approaches.

Principles and approaches

These principles include

The Tribunal continues to work with the Department of Management on issues relating to after service health insurance benefits (a recent actuarial report has been issued) and it will continue to monitor and take appropriate action.

Chapter I General Principles

I. Values and principles