Page 64 - Bulletin, Vol.83 No.2, September 2024

3. Invites member associations in locations where health insurance schemes are also
located to make every effort to ensure that the formal participation of retirees in the
committees of management of the scheme are enshrined in the rules and procedures of
the scheme itself, where this is not already the case.

4. Pending the adoption of such measures, requests member associations to make
contact directly with the relevant Organization administrations and, as appropriate, the
staff associations, to ensure that representatives of retirees are enabled both to be
present and to make interventions in the health insurance management committees on
matters pertaining especially to retiree participants in the respective insurances.

UNJSPF'S TWO-TRACK SYSTEM -- CHALLENGES

AND PROS

AAFI-AFICS Document prepared by Mohammed Sebti and Pierre
Sayour

UNITED NATIONS JOINT STAFF PENSION FUND (UNJSPF)

UNJSPF's Two-Track system: Challenges and Prospects

At present, around half the countries of residence of UN retirees no longer have access
to the local track payment system. Council attention is drawn as to the challenges
posed the recent evolution of this benefit.

Definition of the two-track

“Two-Track is an option made available by the Fund so that beneficiaries living in high
cost of living countries can receive a periodic benefit that can adapt to the local cost-of-
living changes. It has little to do with the choice of currency in which you wish to receive
your periodic benefit and is more dependent on the differences in the cost of living
between your preferred country of residence and the cost of living in the United States.”

The future retiree of the United Nations system can thus choose between a benefit in
US dollars or in local currency:

“Your local track pension is calculated by converting the value of your dollar track
pension on the first day of your retirement, at an average exchange rate between the
United States dollar and the currency of the country of your residence (this average is

62 AAFI-AFICS BULLETIN, Vol. 83 No. 2, 2024-09

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