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TWELFTH ITEM ON THE AGENDA

Pensions questions

Report of the Board of Trustees
of the Special Payments Fund

The forty-fifth report of the Board of Trustees of the Special Payments Fund, established by the Governing Body at its 143rd Session (November 1959), is submitted overleaf for information.

Geneva, 27 August 1998.

Forty-fifth report of the Board of Trustees
of the Special Payments Fund

1. Since its last report, which was examined by the Governing Body at its 270th Session (November 1997), the Board of Trustees of the Special Payments Fund has met once, on 2 April 1998.

Payments authorized for 1997 at the Board's
58th Session (April 1997)

2. Total grants amounted to US$94,253. These included: one grant under the original Terms of Reference amounting to US$1,603; one grant under the Terms of Reference as extended in 1980⁽¹⁾  amounting to US$964; seven grants under the Terms of Reference as extended in 1989⁽²⁾  amounting to US$53,197; five grants under the Terms of Reference as extended in 1992⁽³⁾  amounting to US$38,489.

Payments authorized for 1998 at the Board's
59th Session (April 1998)

3. At the date of this report, grants amounting to US$41,740 had been paid, out of the total amount of US$85,214 which had been authorized for the entire year. Grants paid included six grants under the extension of 1989 amounting to US$22,029, and six grants under the extension of 1992 amounting to US$19,711. The two persons who had previously received grants under the original terms of reference and the extension of 1980 died during 1997.

4. As in previous years, the Board of Trustees awarded grants according to the criteria in its Terms of Reference and gave particular attention to individual cases of hardship. The average age of recipients is 81 years.

5. Most of the payments are in Swiss francs. Expenditure in 1998 will not exceed the Fund's current balance and 1998-99 budget provisions are adequate.⁽⁴⁾ 

Geneva, 25 August 1998.

1. GB.213/PFA/8/5.

2. GB.244/PFA/10/8.

3. GB.254/PFA/10/13.

4. Programme and Budget for 1998-99, para. 290.4.