The three previous valuations those as at 31 December 2001, 31 December 1999 and 31 December 1997 had revealed surpluses of 2.92, 4.25 and 0.36 per cent of pensionable remuneration, respectively.

The policy of making an allowance of 10 per cent of non United States dollar denominated outstanding accounts receivable as at 31 December as a provision for delays in the collection thereof, is discontinued effective 31 December 2003.

The regular valuation, as at 31 December 2003, revealed a fourth consecutive surplus, amounting to 1.14 per cent of pensionable remuneration.

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

Geneva, 31 December 2004

For the year ended 31 December 2003, of a total of 43 recommendations, 14 (32 per cent) had been implemented by May 2005, 27 (63 per cent) were under implementation and 2 (5 per cent) remained unimplemented.

For the year ended 31 December 2003, of a total of 43 recommendations, 14 (32 per cent) had been implemented by May 2005, 27 (63 per cent) were under implementation and 2 (5 per cent) remained unimplemented.

The cumulative amount accrued as of 31 December 2004 is 135 million ( 108 million at 31 December 2003).

a As at 31 December.

Financing beyond 31 December 2005

1 July 31 December 2004

as at 31 December 2004

as at 31 December 2004

Membership until 31 December 2006

(as at 31 December 2004)

a As at 31 December 2004

1 January and 31 December 1994

31 Economist Intelligence Unit, Country Reports, December 2002 and December 2003.

During 2002, gross production of electricity contracted by 1.4 per cent, falling from 121,139,700 kWh as at 31 December 2001 to 119,466,000 kWh by end 2002.

As at 31 December 2004, the number of benefits paid under the two track system was equal to 13,830, which represents an average increase of 2.17 per cent per annum over the past five years.

It also provides information on the financial situation of the United Nations at 31 December 2004 and projections to 31 December 2005.

FOR THE YEAR ENDED 31 DECEMBER 2004

The implementation deadline is 31 December 2006.

for the year ended 31 December 2004

Balance as at 31 December 2004 12.2

Status of Funds at 31 December 2004

Status of Funds at 31 December 2004

for the year ended 31 December 2004

for the year ended 31 December 2004

In Africa the figure was 31 per cent.

Unexpended resources at 31 December 2004 totalled 42.9 million, an increase of 17.8 million over the 25.1 million total at 31 December 2003.

The backlog, defined as uncompleted translation requests relating to registrations more than six months old, dropped from 457 requests as at 31 December 2003 to 31 as at 31 December 2004.

Term of office expires on 31 December 2005.

Term of office expires on 31 December 2006.

Term of office expires on 31 December 2007.

for the year ended 31 December 2004 and

Term of office expires on 31 December 2005.

Term of office expires on 31 December 2006.

Term of office expires on 31 December 2008.

Non expendable property as at 31 December 2004

Status of Funds as at 31 December 2004

Figure 5 Market value of the United Nations Joint Staff Pension Fund from 31 December 1982 to 31 December 2004 (Billions of United States dollars)

The total amount due as at 31 December 2004 amounts to 1,000,000 ( 737,000 at the United Nations operational rate of exchange as at 31 December 2004).

Financial highlights for the year ended 31 December 2004

Financial statements for the year ended 31 December 2004