UNITED NATIONS JOINT STAFF PENSION FUND TO MEET THE LIABILITIES UNDER ARTICLE 26 OF THE REGULATIONS . 112

The liabilities for pensioners and their beneficiaries were valued on the basis of their accrued pension entitlements as of the valuation date.

There is also a more fundamental reason to focus on future variations in the stock of pension debt associated with pension reforms the EU has no business interfering with pension liabilities of individual member states. Why should the rest of Europe care if, say, Spain preserves a generous pension system?

The Fund continued to be the most widely diversified pension fund that maintained its accounts in United States dollars but had liabilities in many other currencies.

Another factor impeding QE s impact in the eurozone is low bond yields, which, by increasing measured pension fund deficits, make some companies reluctant to invest and thus more likely to raise contribution rates and limit pension benefits. In the US, more generous assumptions regarding discount rates are used to calculate pension fund liabilities.

Liabilities

The Committee also noted that the currency cost factor under the two track pension adjustment system had been included in valuations as a loading factor in calculating the liabilities.

Unfunded liabilities

Unfunded liabilities

Assets Liabilities

Total Liabilities

Liquid Liabilities

Environmental Liabilities

(c) Liabilities

Liabilities 4,030.

Article 57The financial liabilities refers to the following liabilities of an enterprise

(w) Contingent liabilities

b Total liabilities.

Assets and Liabilities

Expected Liquid Liabilities

(a) Contingent liabilities

Statement II Assets, liabilities, liabilities and reserves and fund balances at 31 December 1997

(2)other financial liabilities.

Assets and Liabilities Summary

Liquid Assets and Liabilities

Transfers to Liquid Liabilities

Note 6. Contingent liabilities

Pension funds, insurance companies, and mutual funds in the US manage combined assets totaling roughly 30 trillion, and they have been struggling to find investments that match their long term obligations. Persistently low interest rates have been particularly challenging for pension funds, which face rising liabilities (calculated on a discounted basis).

Old age pension and ordinary anticipatory pension

Other end of service liabilities

These increasing liabilities are unfunded.

F. Recognition of Environmental Liabilities

contingent environmental liabilities plus explanations

Deferred credits and other liabilities

As percentage of projected liabilities

Note 18. Contingent financial liabilities

Increase (decrease) in other liabilities

(For purposes of pension benefits and pension contributions)

The most likely explanation for this public investment shortfall is fiscal constraints. And, indeed, debt and unfunded non debt liabilities increasingly weigh down public sector balance sheets and pension funds, eroding the foundations of resilient, sustainable growth.

Salaries, social security contributions, pension charges and pension allowances

Local government pension scheme and the widows pension scheme

97. The old age pension comprises a basic amount, a pension supplement, and a special pension supplement.

G. Liquidity available cash versus liabilities

Voluntary contributions receivable and unrecorded liabilities

Total liabilities, reserves and fund balances