In accordance with the UNJSPF Pension adjustment system, there will be an 8.6 per cent cost-of-living adjustment to the US dollar track of periodic benefits for this year. The adjustment will be applied effective 01 April 2022. Cost-of-Living Adjustment (COLA) letters with these details will be issued by the end of April 2022. All beneficiaries who have registered for access to their UNJSPF Member Self-Service (MSS) account will be able to access their COLA letter in MSS under the DOCUMENTS tab. The Fund will mail out the COLA Letters to the address of the beneficiaries who are not MSS subscribers.
What is the Cost-of-Living Adjustment?
Your initial benefit is adjusted over time for movements of the consumer price index in the United States or for your country of residence. If your benefit is on the dollar track, it will be adjusted periodically in accordance with the movements of the United States consumer price index (CPI). If you have opted for the two-track system, your pension amount will be adjusted by the movements of the CPI of your country of residence. For more information about the two-track, click here. For more information about cost of living adjustment, click here or continue reading.
How often is my benefit adjusted for the cost of living?
Normally, benefits are adjusted for the cost of living once a year, provided that the CPI has moved by at least 2 per cent since the date of the last adjustment. Such adjustments are normally undertaken in April of the following year. However, in high-inflation situations, i.e. where the consumer price index has moved by 10 per cent or more since the date of the last adjustment, benefits are adjusted semi-annually, on 1 April and 1 October.
For more information, please check the Cost of Living Adjustment page.