UPDATE ON THE FUND’S ACTIVITIES

PRESENTED

TO AFICS (NY)

BY MR. BERNARD COCHEMÉ (CEO, UNJSPF)

7 June 2012

Table of contents A. Decisions taken by the General AssemblyB. Update on the Fund’s activities

I. Overview

II. Update on investments (By W. Sach, Representative of the SG for investments)

III. Update on operations

IV. Comments on the Fund’s 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)

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A. Decisions Taken by the General Assembly

The General Assembly approved : The General Assembly approved :

all of the Pension Board’s recommendations concerning the 2012-2013

budget, with the exception of post-related re-costing.

The General Assembly authorized:

the Fund to continue to apply the Financial Regulations and Rules of the United

Nations mutatis mutandis to its accounting processes and financial reporting in a

manner that allows the Fund to be compliant with the International Public Sector

Accounting Standards (IPSAS) by 1 January 2012;

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Table of contents

A. Decisions taken by the General AssemblyB. Update on the Fund’s activities

I. Overview I. Overview

II. Update on investments (By W. Sach, Representative of the SG for investments)

III. Update on operations

IV. Comments on the Fund’s 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)

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"First, I want to give you an overview of what I will tell you over and over again "First, I want to give you an overview of what I will tell you over and over again during the entire presentation." during the entire presentation."

I) Overview• Market value of assets: $39.7 billion (31 December 2011)

• Benefit payments: $2.130 billion (31 December 2011)

• Contributions received: $2.140 billion (31 December 2011)

• Investment income: $1.484 billion (31 December 2011)

• Dividend income: $671.9 million (31 December 2011)

• Interests $461.8 million (31 December 2011)

• Profit on sales of investments $263 million (31 December 2011)

• Number of active participants: 120,774 (31 December 2011)

• Periodic benefits in award : 65,387 (31 December 2011)

• Actuarial situation: Deficit of 0.38 per cent of pensionable remuneration

as of 31 December 20096

Table of contents

A. Decisions taken by the General AssemblyB. Update on the Fund’s activities

I. Overview II. Update on investments (By W. Sach, Representative of the SG for investments)

III. Update on operationsIII. Update on operations

IV. Comments on the Fund’s 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)

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III) Update on Operations

1) Participants

2) Benefits in Payment

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Growth of approximately 50% in last 10 years

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Growth of approximately 32% in last 10 years

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2) Benefits in Payment (2/2)

December 2011 payroll by Currency

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US Dollar, Euro and Swiss Franc represent 94% of all benefit payments

Table of contents

A. Decisions taken by the General AssemblyB. Update on the Fund’s activities

I. Overview II. Update on investments (By W. Sach, Representative of the SG for investments)

III. Update on operations

IV. Comments on the Fund’s Balance IV. Comments on the Fund’s 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)

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IV) Comments on the Fund’s Balance

1) Short Term 2) Long term

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During 2011, the Fund received contributions in the amount of 2.140 billion USD and made nearly 2.130 billion USD benefit payments.

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1) Short term (1/2)

Benefit Payments and Contribution Income

1) Short term (2/2)

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2011

Contribution income: $2,140 million Investment income: $1,484 million

Benefit Payment: $2,130 million Dividend income: $671.9 million

Profit on sales of investments: $263 million Interests income: $461.8 million