The UNAT noted that in its calculation of the reduction of the beneficiary’s retirement benefit, the Pension Fund had determined the rate of the overall cost-of-living adjustment due to benefits in accordance with the movement in the US consumer price index since the date of the last adjustment to be 6.4 per cent. The UNAT observed that the Fund had then prorated the overall adjustment rate in proportion to the length of time the beneficiary’s retirement benefit had been in payment and had determined that the inflationary adjustment due to him was 7/12 of 6.4 per cent, equal to 3.7 per cent...
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UNJSPF Procedure General No. 33
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