text: affectparticipants appointed directly toUnder-Secretary-General orAssistant Secretary-General-level posts,afteracareeroutside theUnitedNations system; theonestobeaffected wouldbelong-service international civilservants. The breakdown byyearsofcontributory service ofthe153participants intheFundwith therankofUnder-Secretary-General, Assistant Secretary-General ortheir eauivalent asat31December 1984wasasfollows:47.Whereas a0-2,topstep,participant wouldneed35yearsofcontributory service tobecomeentitled tothemaximum benefit ($64,288 or$60,060 asthecase maybe),aparticipant whoretiredatthelevelofUnder-Secretary-General or Assistant Secretary-General '~ouldbecomeentitled toabenefit of$64,288 (or$60,060) withinashortez periodoftime.Thenumberofyearsofcontributory service required toreachthatentitlement isshowninthefollowing table:49.Afurther pointtobeborneinmindwasthattheimposition ofaceiling as defined inparagraph 47abovetoparticipants already servingatthelevelof Under-Secretary-General, Assistant Secret~ry-General ortheirequivalent, wouldbe tantamount tomakingnon-pensionable theyearsoftheirfutureservice inexcessof thoseneededtoreachtheceilingJ thatwouldbeamaterial changeintheir conditions ofemployment, andwouldthusbeofdoubtful legality. 50.Onthebasisofitsfurther analysis oftheGeneral Assembly's request, the Boardconcluded thatitwouldnotbedesirable toimposeaceiling onthehighest levelsofpensions. Suchaceiling wouldbeinconsistent withtheprinciple that theRegulations oftheFundshouldbeapplied uniformlYJ fur_hermore, aswas already recalled inparagraph 44above,itwouldhavenoimpactontheactuarial imbalance. 51.Atthesametime,theviewwasalsoexpressed thatthefactthattheGeneral Assembly hadtwicerequested theBoardto.submitrecommendations regarding the imposition ofaceiling onthehighest levelsofpension.indicated thattherewere strongly heldviewsintheAssembly infavourofsuchaceiling forreasons that werenotwithinthecompetence ofatechnical bodysuchasthePension Board. A response totherequest wouldhavetobesuchastoavoidtheproblem identified in paragraph 49aboveJitalsoappeared undesirable tolinkthebenefit entitlement of aparticipant atagivenleveltotheentitlement ofanotherofficial atalower levelofresponsibility. Thosetwoconcerns wouldbemetiftheceiling was expressed intermsofamaximum accumulation lowerthanthemaximain article 28(b)and(c)oftheRegulations, andifitapplied onlytoparticipants whowerenot-already-serving atthelevelofUnder-Secretary-General, Assistant Secretary-General ortheirequivalent. TheBoardconcluded thatamaximum accumulation of60pereentoffinalaverage remuneration wouldbereasonableJ at present maximum accumulation equals 65percentforthosewhobecameparticipants intheFundbefore 1January 1983,and66.25percentforallotherparticipants. Thatresultwouldbeachieved ifanewparagraph wasinserted inarticle 28,after paragraph (£),toreadasfollows: "Notwithstanding theprovisions of(b)and(c)above,andexceptfora participant atthelevelofAssistant Secretary-General, Under-Secretary-General ortheirequivalent levelpriorto1January 1986,the benefit payableatthestandard annualrateto·aparticipant atanyoneof thoselevelsshallnotexceed 60per~entofthefinalaverage remuneration at thedateofseparation, calculated forthatlevelinaccordance with article 1(!l)(1)or(11)." 52.TheBoarddecided torecommend totheGeneral Assembly, that s~ouldit disagree withtheBoard's conclusion inparagraph 50above,theimposition ofa ceiling onthehighest levelsofpension beeffected byamending article 28inthe mannerindicated inparagraph 51above.. Eightmembers oftheBOarddisagreed with thisrecommendation. 53.Asforlimiting theamountthatmaybepaidtoaparticipant bywayof lump-sum commutation ofpartofhisperiodic benefit, theBOardrecalled thatthe Fundderived abenefit fromtheexistence ofthecommutation provis~on inthe Regulations. Theconsulting actuary hadinformed theBoardthatifthecommutation provision wereeliminated, theactuarial imbalance wouldincrease by1.33percent oftotalpensionable remuneration basedonthe31December 1984actuarial valuation. TheRegulations already imposed alimitontheproportion ofthe periodic benefit thatcouldbecommuted byspecifying thatnormally onecould -16-comm amou tot of1 $125 the remu maxi abov ofp Pens 54. the loca "loc a11 doll bene 55. Asse re-e wher yiel amou Hmi 56. that basi tot The purc was
analysis: The text appears to be discussing pension benefits and regulations within an international organization, specifically the United Nations. It seems to be focused on the financial aspects of pension entitlements and the need to balance actuarial imbalances. The language used is technical and formal, suggesting a specialized audience familiar with pension regulations and actuarial calculations.