The UN Pension Board Rejects an Audit of Its Work
The United Nations Pension Board’s recent meeting in Rome ended with a record number of disagreements and much acrimony. The chief cause of distress was the results of the internal governance audit requested last December by the General Assembly.
At the meeting, held July 29 to Aug. 3, board members directed much of their angst against recommendations to adjust the makeup of the board of the $65 billion fund to comply with General Assembly resolutions. The resolutions called for fairer and more equitable representation of member organizations, given that the UN secretariat, funds and programs control only a third of board seats despite accounting for two-thirds of pension fund members.
One effect of the imbalanced representation has been to skew board decisions away from resolving issues affecting a majority of the fund’s members.
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