1. 2) Long term (1/4) UNJSPF : Evolution of Actuarial situation since 1990 15

2. 2) Long term (2/4) 16 The current funding ratio is 139.6 per cent as of the latest valuation at 31 December 2009.This ratio indicates that there is a 39.6 per cent security margin. However, if account is taken of the pension adjustment system, the funded ratio drops below 100%. UNJSPF: Funding ratio for Valuations as of 31 December 1990-2009

3. 2) Long term (3/4) 3 Market value as of 31 December 2011: US$ 39.7 billion 17 Market value, Actuarial value and Asset needed for balance (US $ million)

4. 2) Long term (4/4) Performance achieved compared to the Funds return objectives 18 The Fund did not meet its long-term investment objective in the 1, 2, 4, 5, 6, 7 and 8 Year periods.

5. Table of contents A. Decisions taken by the General Assembly B. Update on the Funds activities I. Overview II. Update on investments ( By W. Sach, Representative of the SG for investments) III. Update on operations IV. Comments on the Funds Balance C. Conclusions D. Important meetings E. Main items on the Agenda of the 59th session of the Pension Board (UNESCO-Paris, 3-11 July 2012) 19

6. C. CONCLUSIONS The Fund continues to monitor, on an ongoing basis, the efficiency and effectiveness of its operations and services through its governance and Fund-wide coordination mechanisms. The Fund is currently working on the following 3 key projects: - IPSAS implementation starting 1 January 2012 - Integrated Pension Administration System for implementation in 2014 - Data collection project 20

7. Table of contents A. Decisions taken by the General Assembly B. Update on the Funds activities I. Overview II. Update on investments ( By W. Sach, Representative of the SG for investments) III. Update on operations IV. Comments on the Funds Balance C. Conclusions D. Important meetings E. Main items on the Agenda of the 59th session of the Pension Board (UNESCO-Paris, 3-11 July 2012) 21

8. D. Important meetings Pension Board 3 - 11 July 2012 (UNESCO, Paris) Audit Committee 8-9 March, June, November 2012 Search Committee 15-16 March 2012 Committee of Actuaries 13 - 15 June 2012 ( New York) Investments Committee 6-7 February, 7 May, 2 July, 5 November 2012 22

9. Table of contents A. Decisions taken by the General Assembly B. Update on the Funds activities I. Overview II. Update on investments ( By W. Sach, Representative of the SG for investments) III. Update on operations IV. Comments on the Funds Balance C. Conclusions D. Important meetings E. Main items on the Agenda of the 59th session of the Pension Board (UNESCO-Paris, 3-11 July 2012) Board (UNESCO-Paris, 3-11 July 2012) 23

10. D. 59 th SESSION OF THE PENSION BOARD Main items on the AGENDA - Consideration by the General Assembly of the UN Pension System at its sixty- sixth session - Actuarial matters - Investments of the Fund - Administrative matters - Governance matters - Audit - Benefit system/Participants - Other matters 24

11. www.unjspf.org New icons on the UNJSPF website for easy access to useful information

12. NEW! DivorceBooklets/ Livrets Thématiques Validation Separation Disability Restoration Two-Track Information for Beneficiaries Participation Transfer Agreements Survivors Benefits

13. FAQs (1/2) 1. What should a retiree do to obtain a statement from the Fund for tax reporting purposes? Retirees can contact the Fund office by phone or email, in order to receive a tax statement of benefits. Retirees will automatically receive the tax statement in subsequent years. 2. What happens if a UNJSPF retiree is travelling and forgets to submit his or her CE? The retiree should send a letter to the Fund as soon as possible, including the date, official address, name, retirement number with his/her official ORIGINAL signature. This letter will alert the Fund to prevent a potential future suspension. 3. What can a retiree do to facilitate the process for his or her survivors benefit? To help your survivor be prepared, you should keep all of your records easily available, in order to be submitted to the Fund when applying for a survivor benefit. A list of these documents is on the Fund's website and contained in the Fund's booklet on survivors benefits. 28

14. FAQs (2/2) 4. How often are UNJSPF periodic benefits adjusted due to inflation? Periodic benefits are adjusted when the cost-of-living in the country of residence has met the 2% threshold. If the threshold is not met in a given year, the movements are carried over to the next year. 5. What should I do if my pension payment is not received? If your payment is not received and you are sure that there is no problem with your bank, you should contact the Fund by phone and/or email, either in New York or Geneva, as soon as possible, so that the Fund can research and take the necessary action to help ensure you receive your payment. etc……….. 29