VOL. 67, NO. 3 - AAFI-AFICS, Geneva - UNOG

4.22 In response to a remark by Mr Claude Mercier, he clarified that he had not suggested that the matter
should wait until the number of retirees equaled the number of participants: he had simply noted that as the
number of retirees increased, it was even more logical and evident for them to be granted full representativity
in the Pension Board.
4.23 The Representative of the Geneva Office of the UNJSPF, Mr R. Goossens, informed the Assembly
that at the end of April 2008 the cost-of-living adjustment would be 4.1% for the dollar track ; 3.6% in
Switzerland, 2.6% in France, and 4.5% in Italy for the local track. Replying to a question posed earlier by a
participant, Mr Goossens stated that investments, which had amounted to $ 41.4 billion as of the end of
December 2007, amounted to $ 40.2 billion as of the previous week –a normal fluctuation, in spite of the
financial crisis. He further indicated that the Pension Fund currently comprised 104,000 participants and
57,855 retirees and beneficiaries.
4.24 As to the term of ‘customer’ currently used by the offices of the UNJSPF, Mr Goossens indicated that
this was a ‘buzz’ word used throughout the UN Common System which could also be found in vacancy
announcements. He wished to recall, however, that ‘le client est roi’. Referring to paragraph 14 of the Annual
Report, he indicated that the Staff of the Geneva Office of the UNJSPF had been somewhat saddened to
read it, but this had encouraged them to continue to work harmoniously with the AAFI-AFICS Committee, as
the purpose of the Office was to serve.
4.25 Mr Hanus was pleased that the General Assembly had supported the views he had put forward in
paragraph 20 of the Annual Report, which he had explained before the Assembly, recommending
determined action by the Association and the Federation. He noted that the Pension Fund was dependent
upon the global economy, quite differently from most national pension schemes which were more sensitive
to fluctuations in the internal market. The fact that the Fund could invest at the global level was an
enormous advantage as was the fact that it benefited from tax exemption everywhere in the world. The Fund
was very robust and retirees could be reasonably optimistic for the future. However, the economy and the
world were dangerous places: the global economy was cyclical and, in spite of the precautions which
surrounded actuarial evaluations, it was always possible that at a given moment, we could be faced with an
actuarial "bubble" in the Fund. What would happen then would be exactly the same as had happened in the
past: sacrifices would be imposed on everyone, including retirees. There was a solidarity, to a certain
extent, of the retirees with the participants, the representatives of Member States and of the administrations;
but one could not allow these groups to impose decisions on those who had not taken part in them. It was
there that our participation with full voting rights was very important: the retirees ought, for example, to have
the possibility of taking their proper and fundamental part in all discussions on matters arising from the
actuarial position of the Fund which was unfortunately not currently possible. Retirees continued to pay the
consequences for the actuarial shortfall of 1984.
Health
4.26 Mr Roger Eggleston, Vice-Chairman (Health) of the Committee, introduced the section of the Annual
Report on health matters, expressing thanks to Mr Jacques Bacaly who had been in charge of the Health
Commission until July 2007. He informed the Assembly that the Health Commission had focused on its
mandate, including in the area of long-term care, and continued to draw Administrations’ attention to this
important matter. The AAFI-AFICS Seminar on Long-term Care organized on 24 January 2008 had been
overwhelmingly attended, which was a clear sign that this subject was of importance to the members of the
Association. The Fédération Genevoise des Etablissements Médico-Sociaux (FEGEMS) and the Centre
local d’information et de coordination gérontologique (CLIC) of the Pays de Gex now, knew more about UN
retirees and would be working much more closely with AAFI-AFICS. A report on the Seminar would be
published in the next issue of the AAFI-AFICS Bulletin. Interventions by Dr Halfdan Mahler and Angela
Butler would be reported on in the June 2008 issue of the Bulletin. Dr Halfdan Mahler had placed the issue of
long-term care within the global context, underlining the need for services both at home and in institutions,
both medical and non-medical.
4.27 All Geneva-based Organizations did have some provisions for long-term care, unlike New York and
Rome-based Organizations. For historical reasons, these provisions were different. An article in the March
Bulletin would show how much long-term care had cost. The percentage of all reimbursements for long-term
care had not gone up significantly. In real terms, long-term care-related costs had not escalated at the level
anticipated by actuaries. The experience acquired over a period of 5 years would provide a valuable basis
for making coverage for long-term care more coherent and comprehensive.
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