IN-RETIREMENT PRESENTATION EURSA COPENHAGEN · 10 Prospects Change in Normal Retirement Age to 65...

IN-RETIREMENT PRESENTATION EURSA– COPENHAGEN – OCTOBER 2016

To share information with you about . . .

Reminder/Refresher of what the Fund is

Prospects

Main Part: Q&A with UN Retirees UNJSPF ONLINE SERVICES: IPAS

MEMBER SELF-SERVICE

CONTACTING GVA OFFICE VIA SKYPE

Presentation Goals

1

UNJSPF: The System

2

UNJSPF is a “Defined Benefit” (DB) scheme,

namely one where:

• assets are pooled (if funded scheme)

• the benefit is a function of time served and

final salary

• the employer bears the market risk.

• The Fund is a US Dollar Scheme

• Beneficiary’s money will not “run out”.

Nature of the Fund

3

The number of Participants in the Fund has increased from 122,759 to 126,892 representing an

increase of 3.4% from 2014

UNJSPF: Active Participants total growth (2004-2015)

4

The number of benefits in award decreased from 72,367 to 71,474, a drop of 1.2%.

UNJSPF: Beneficiaries Total Growth (2004-2015)

5

$2.256 Billion Contributions and $2.361 Billion Benefit Payments in

2015. During the year 2015, benefits were paid in 16 different currencies. The

difference between Contributions and Benefit Payments for 2015 is approx. $105

Million (Source: 2015 PFB Report)

UNJSPF: Short-term Funding Status

6

UNJSPF: Market value of assets

The value of the Fund’s assets decreased from $53.1 billion on 1 January 2015 to $52.4

billion on 31 December 2015, a decrease of $650.6 million or 1.3% (Source: PFB 2016 Report)

7

UNJSPF: Long Term Funding Status

8

The 2015 valuation revealed a surplus, amounting to 0.16 per cent of pensionable remuneration. The 0.16 per cent,

expressed another way, means that the theoretical contribution rate required to achieve balance as of 31 December 2015

was 23.54 percent of pensionable remuneration, compared to the actual contribution rate of 23.70 per cent. These results

indicate the first surplus since 2007. (Source: PFD Report)

UNJSPF: Long Term Funding Status

9

The funding ratios are comparisons of the current assets of the Fund with the value of the

accrued benefits (liabilities) on the given valuation date and are calculated on a “plan

termination basis.” With respect to its liabilities on 31 December 2015, the Fund was found

to be in a soundly funded position, as it had been for the past thirteen valuations. The

current funded ratio is 141.1 percent. This meant that the Fund would have considerably

more assets than needed to pay the benefits if no adjustments were made in pensions for

changes in the cost of living. The Funded position decreased to 100.9 percent when account

was taken of the current system of pension adjustments

10

Prospects

Change in Normal Retirement Age to 65 for those who enter the Fund from 01 January 2014

The principal of the Fund’s investment portfolio will not be utilized to cover the contributions/benefit gap until 2047 (in 33 years).

Even in a “catastrophic” scenario if the real return on investments is only 2% the principal will not start to be utilized until 2037 (in 23 years).

Integrated Pension Administration System (IPAS) and its Member Self Service continue to be improved.

A “RENDEZ-VOUS” WITH A

PENSION FUND RETIREE

11

Topics Covered

Monthly Payment of Pensions

Currency of Payment

Certificate of Entitlement (CE)

Quarterly Notification

Attestations

Moving and Changing address

Change of Bank or Account Number

Survivor’s Benefit

Web Access: Member Self-Service (MSS)

How to reach us

12

Q: When can I expect to receive my monthly pension? A: Our payments are made at the following value dates for the

Fund:

Cheques: 1st day of the month (01 November 2016)

USD payments to USA: Last Business day of the

month (31 October 2016)

All other payments: The day before the last Business

day of the month (28 October 2016)

Some banks may credit your account at value date

+ 1 or 2 business days

All non-monthly payments are made as a batch each

Thursday (Returned payments, retroactive benefits after

suspension, and retroactive benefits for survivor’s benefits)

Monthly Payment of Pensions

13

Q: In which currency can I have my pension paid?

A: Our monthly pensions are paid in the 15 following currencies

in the country of your choice*: 1. US Dollar

2. Euro

3. Swiss Franc

4. Pound Sterling

5. Canadian Dollar

6. Australian Dollar

7. New Zealand Dollar

8. Singapore Dollar

9. Japanese Yen

10. Danish Krone

11. Norwegian Krone

12. Swedish Krona

13. Indian Rupee

14. Pakistani Rupee

15. CFA Franc *Related consequences to be discussed in changing of payment instructions

Currency of Payment

14

Certificate of

Entitlement

(CE) 15

Q: I am a new retiree and would like to know when I should expect

my Certificate of Entitlement (CE)

A: If you have received less than six monthly payments by May,

you will not receive a CE for the current year.

Otherwise, the CE is sent at the end of May (2016) with a

reminder in September(2016) for those who do not return the

May CE. If none of CE is received by the Fund, and no other

Original Document or email is received by November 2016,

the next pension will be suspended. Below the link for all

information on the 2016 CE.

http://www.unjspf.org/UNJSPF_Web/page.jsp?role=bene&page=b

enCE&lang=eng

Q: For me, I have just received the CE, but how do I fill it?

A: You just need to date and sign at the indicated fields as shown

the following slides

Certificate of Entitlement (CE) – New Cycle

16

http://www.unjspf.org/UNJSPF_Web/page.jsp?role=bene&page=benCE&lang=eng



YOUR CERTIFICATE

OF ENTITLEMENT

NAME DATE

TYPE OF BENEFIT AND COUNTRY

OF RESIDENCE FOR TWO-TRACK SIGN HERE

DATE HERE

RETIREMENT NUMBER

RETURNING YOUR

CERTIFICATE OF

ENTITLEMENT

Q: For me, I received the CE, but because of my age or

medical condition, I cannot sign it, what should I do?

A: You can affix your thumbprint at the indicated field and have

it witnessed by a UN system Official, attending doctor or

Local Government Authorities.

The person witnessing the thumbprint must state his/her

name, title and Official Seal in the indicated fields.

For the first time the thumbprint is used instead of signature,

a Medical Certificate should be enclosed to explain the

condition preventing the retiree from signing.


19

Your Certificate

of Entitlement

(CE)

NAME DATE

TYPE OF BENEFIT AND COUNTRY

FOR RESIDENCE FOR TWO-TRACK

Retiree’s

Thumbprint

Here

DATE HERE

RETIREMENT NUMBER

Name of witness

Title of witness Signature and Official Seal of

Witness

Please read our new Legal Guardianship and estate booklet

21

Q: What to do if by mid-October, I do not receive neither the

original CE (May) nor the Reminder (September)?

A: If that happens, please write and send an Original Letter,

with your signature to inform the Fund your non-receipt of

the CE and confirm your mailing address in that letter.

There is a review prior to the suspension, and your pension

will not be suspended if we find the original letter in file. We

will send you another CE to sign as the Original CE is still

required.

22


Q: What if for whatever reason, my pension is suspended due

to your non-receipt of my CE. What should I do?

A: Your payment will be reinstated retroactively once we

receive a signed Original CE from you. The reinstatement

process is a long process where the suspended payments

will be reissued separately and we will re-establish the

monthly payments.

Important: After Service Health Insurance (ASHI)

deductions will NOT be done when the payment is

suspended! Extended period of suspension can lead to

termination of ASHI due to missing premiums. Benefits will

be forfeited if the suspension lasts 2 years or longer.

Certificat de Droit à Prestation (CE)

23

Quarterly

Notification 24

DUE TO THE MOVE FROM LEGACY TO IPAS, NO QUARTERLY NOTIFICATION WAS

GENERATED FOR OCTOBER 2015 AND JANUARY 2016 QUARTERS..

THE PAYMENT DETAILS FOR THESE QUARTERS ARE

AVAILABLE IN YOUR MEMBER SELF SERVICE (MSS)

JULY 2016 NOTIFICATIONS WILL BE SENT SOON 25

Q: I receive a statement full of numbers from time to time. What

is it?

A: A notification is sent to retirees whenever there is a change

in their gross pension amount (without the insurance (ASHI)

deduction).

If you are on the USD Track and your pension is paid in

USD, the gross payable amount will not change unless there

is cost of living adjustment in the USA. The last change and

therefore your last statement is dated April 2014.

Quarterly Notifications

26

Your Notification: USD Track

and payment in

USD without

ASHI

NOM DATE

TYPE DE PENSION

DATEZ ICI


and payment in USD with

ASHI

Q: What if I am on the USD Track but choose to be paid in

another currency?

A: If you are on the USD Dollar Track but request to be paid

in a currency other than US Dollar, your payable amount

will change every quarter depending on the UN Quarterly

Exchange Rate. You will receive a Quarterly Notification

If your net payable amount changes within the quarter, it is usually due to a

change in your After-Service Health Insurance Premium

Quarterly Notifications

29


and payment in

another currency without

ASHI

NOM DATE

TYPE DE PENSION SIGNEZ ICI

DATEZ ICI


and payment in

another currency

with ASHI

Statements

32

Q: How can justify my status of UN Retiree?

A: We can provide you three types of attestations for this

purpose:

1. Benefit Attestation with or without amount

2. Annual Attestation (Benefit Statement) showing that

amounts paid during a fiscal year

3. Attestation of your period of contributory Service with or

without the amount of your contributions and interest and

the contributions from your employing organization.

Statements

33

We provide a monthly benefit statement (EN or FR) at the

request (oral or written) of the retiree. It can be picked up at

our offices or mailed to the address in our records.

It’s prepared with or without amount at the request of the

retiree

If it’s requested with the amount, the stated amount is the

current gross payable monthly amount (including children

benefit) in the paid currency at the time of the attestation.

It can include the payment destination (Bank name and

account) at the request of the retiree, but we cannot state

that the instruction is irrevocable.

Benefit Statement (Monthly benefit)

34

Statement with or without amount (FR or EN)

35

A benefit Statement indicating the payments of pensions dues during the

fiscal year is sent at the request (oral or written) of the retiree to the

address on our records. It is sent automatically thereafter at the end

of January each year.

All amounts paid during the fiscal year, including lump sum, retroactivity

and adjustments, are mentioned.

The amounts indicated are those of the currency paid. The amounts

are gross, i.e. they do not take into account deductions for health

insurance premiums. Beneficiaries should contact their insurance

section for an attestation covering these deductions.

The amount of a child benefit, if any, is given separately but cannot be

omitted.

All annual attestations are issued on the basis of the conditions

enumerated above, without exceptions.

Benefit Statement a.k.a Tax Statement (Annual)

36

Tax Statement: How it looks outside

37

Tax Attestation: How it looks inside

38

The Fund can provide an attestation of

contributory service at the request of the

retirees (normally due to requests for National

Pension Offices)

The statement can also include the total

contributions and interest from the retiree

during his/her participation and the

Organization’s contributions for the same

period.

Attestations of Contributory Service and Contributions

39

Attestations of Contributory Service and Contributions

40

MOVING

41

Q: I am changing my address. Should I inform the Fund? If yes,

how?

A : If you are changing your address, even in the same country,

you need to inform the Fund by filling out our PF23M form

and sending it to the Fund in Original by mail or diplomatic

pouch.

Documents received by email (including PDF

attachments), photocopies and faxes are not accepted.

Moving

42

CHANGE OF

ADDRESS

- Please fill the form for

our website if possible

before printing and

signing in order to avoid

misinterpretations of

letters and numbers

The completed form

bearing ORIGINAL

SIGNATURE must

be submitted to the

Fund: No faxes,

photocopies or

emails will be

accepted

43

Change of

Payment

Instructions 44

Q: I am changing my bank account, how do I inform the Fund?

A: If you are changing your bank account , even in the same

country, you need to inform the Fund by filling out our PF23

Change of payment instructions form and sending it to the

Fund in Original by mail or diplomatic pouch.

If your bank informs you that your bank codes (Sort Code or

SWIFT) have changed, please inform the Fund through the

same method.

Documents received by email (including PDF attachments),

photocopies and faxes are not accepted.

For changes in intermediary banks for cross-border payments,

an email with the name and SWIFT code of the new

intermediary bank is acceptable.

Change of Payment Instructions

45

Q: How long does it take the Fund to make the change?

Q: It depends on when we receive the request. We close the

payroll around the 10th of the months for the pensions due

at the end of the month. (Example: Payroll closing on 10 October for payments due on 28 October 2016)

So, instructions received after the 7th of the month are normally

processed for the following month’s payroll.

Beneficiaries should NOT close their previous account

until they receive a payment in the new bank account.

Change of Payment Instructions - Timing

46

CHANGE IN

PAYMENT

INSTRUCTIONS

Please fill the form for our

website if possible before

printing and signing in order

to avoid misinterpretations

of letters and numbers

The completed form

bearing ORIGINAL

SIGNATURE must be

submitted to the Fund:

No faxes, photocopies or

emails will be accepted

Please include a

document from your bank

showing your account

details 47

PAYMENT INSTRUCTIONS

We are working on new Payment Instructions

Notification from IPAS

It may take up to six weeks to implement the new

instructions. Please don’t close the old account

without having received a payment in the new

one.

New Payment Instructions have to last at least a

year

In extraordinary circumstances, we can change

the instructions prior to the expiration of the on

year 48

Q: So what are the possible consequences for my choice of

currency of payment?

A: Your choice of currency has two possible consequences: Unlimited

Payment fluctuations and Bank Charges

To avoid unlimited payment fluctuations (up or down), the

Track currency has to be the same as Payment Currency.

Track Payment Currency Consequences

USD USD No payment fluctuation

USD DKK Unlimited Quarterly Fluctuation USD-DKK

USD EURO Unlimited Quarterly Fluctuation USD-EUR

Local Denmark (DKK) DKK Limited payment fluctuation (between min-max)

Local Denmark (DKK) USD Unlimited Quarterly Fluctuation DKK-USD

Local Denmark(DKK) EUR Unlimited Quarterly Double fluctuation: DKK-USD, and USD-EUR

Change of Payment Instructions – Choice of Currency

49

Q: So what are the possible consequences for my choice of

currency of payment?

A: Your choice of currency has two possible consequences: Unlimited

Payment fluctuations and Bank Charges

The Fund pays a fee to send pensions, but does not absorb fees related to the receipt of

pensions

To avoid bank charges, the payment destination must be in the currency zone.

Currency Destination Bank Charges (yes, no, possible)

USD USA No

USD Other countries Yes for most, with a few exceptions

EURO SEPA Zone (32 countries) No

EURO Outside SEPA Zone Yes for most, with a few exceptions

DKK Denmark No

DKK Outside Denmark YES

Other Payroll currencies In their zones NO

Other Payroll currencies Outside their zones YES

Change of Payment Instructions – Choice of Currency

50

PENSION ADJUSTMENT SYSTEM

Adjustment of Pensions due to Cost of Living Adjustments

Two-Track

51

Q: What is the Pension Adjustment System and why do you have

it?

A: The Pension Adjustment System (PAS) is a way of

indexing pensions on the Consumer Price Index (CPI). It is

designed to protect the purchasing power of a pension from

inflation and where applicable from currency fluctuations.

All periodic pensions are adjusted annually if the CPI has

moved by at least 2% from last adjustment

All pensions are calculated initially on the US Dollar Track.

Beneficiaries have the option to add a second track called

Local Track, that why it is called Two-Track.

Pension Adjustment System: Basics

52

Q: What is the benefit of the two-track?

A: The Two-Track:

Provides stability of the pension amount in the currency of your

country of residence (the fluctuation been limited between your

local track amount and the maximum amount 120/110%)

Maintains the purchasing power of pensions by indexing

pensions based on Consumer Price Index in your Country of

Residence.

Pension Adjustment System: Two-Track

53

Q: How do I know if I am already on the two-track?

A: Take a look at your notification, you will see that there are

two columns:

On your left the US Dollar Track and on your right the Local

Track (2nd track of the two-track).

If the right column is empty, you are only on the US Dollar Track

Pension Adjustment System: How do I know the Track

54

Q: Being on the USD Track, how do I know if the two-track is

good for me?

A: Please request an estimate from the Fund. Two-Track

estimates will be available in Member Self Service (MSS) in

the future. You will be able to run your estimate in MSS.

For most cases currently in the US Dollar Track in

Scandinavia, it is the best choice as the USD Track entitlement

multiplied by the UN Quarterly Rate is higher than the Local

Track at entitlement date increased by Cost of Living

Adjustments.

Two-Track: Is it good for me

57

Q: How do I apply for the two-track?

A: Please read the instructions on pages 1 to 4 and fill out page

5 of our PENS E/10 « Declaration of Country of Residence »

Please enclose a document to show proof of residence in the

country you are requesting the local track

Two-Track: How do I apply

58

PENS/E10

FORM

Form to be signed when

requesting the two-track

for the first time and sent

with a Certificate of

Residence

59

Q: I am on the two-track and I am changing my country of

residence, what should I do?

A: Once you opt for the two-track and change your country of

residence, you need to inform the Fund within six months of

your arrival to the new country.

You must fill out and send our PENS E/11 « Change of

Country of Residence » with proof of residence in the new

country as well as proof of the date of arrival to the new

country.

Your pension will be then calculated under the local track of

the new country with effective date the quarter following the

receipt of the PENS E/11 form

Two-Track: Change of country of residence

60

PENS/E11

FORM

To be filled out when

changing country of

residence while on the

two-track

Proof of arrival is

required if the arrival

date is not mentioned on

the Certificate of

Residence (Passport

with Immigration stamp,

Boarding Pass, Tickets

etc.)

61

Q: I am on the two-track, can I revert to the USD Track Only?

A: You normally revert to the USD Track only when you

change your country of residence to the USA or to another

country where the local track is NOT applicable

Exceptions are reviewed on a case to case basis.

Two-Track: Return to the US Dollar Track

62

Survivor’s

Benefits 63

Q: If I pass away, will my spouse have a right to

a pension?

A: A survivor’s benefit is payable to surviving

your spouse if you have the right to a

monthly pension, and if the surviving

spouse has been married to you prior to your

separation from service and remained

married to you until death.

Right to a pension

64

65

Interpretation of Marriage by the Pension Board (2016 version): The Pension Board has extended the interpretation of marriage to unions/partnerships lawfully entered into and legally recognized by the competent authority of the location where the status was established as long as the union confers the similar legal effect as marriage, specifically including pension rights.

Q: Under which circumstances would my spouse not be entitled

to a benefit?

A: A widow/widower’s benefit would not be payable if you

have separated from service prior to 01 April 2001 and

opted for a deferred retirement benefit with Lump Sum.

Or

If the marriage was contracted after Separation from

Service and that no annuity has been purchased under

Article 35 ter.

Right to a Pension

66

Q: Upon death, what will the spouse need to do

to establish the survivor’s benefit?

A - The Fund reviews the file to see what

documents are already with the Fund, among

the checklist below. All pension forms are

needed in Original while the Fund accept copies

of other documents.

Administrative Procedures

67

Copy of the retiree’s Death Certificate

Copy of the Marriage Certificate

Copy of Spouse’s Birth Certificate

Proof of Divorce (if applicable)

Copy of Official ID bearing Photograph and Signature (Passport or National ID card)

Original PENS.E/2

68

Required Documents

PENS.E/2 – Page 1

NEW FORM



printing and signing in

order to avoid

misinterpretations of letters

and numbers

The completed form

bearing ORIGINAL

SIGNATURE must be


No faxes, photocopies

or emails will be

accepted

Please include a

document from your

bank showing your

account details

Please check the right box 69

PENS.E/2 – Page

FORM



printing and signing in

order to avoid

misinterpretations of letters

and numbers

The completed form

bearing ORIGINAL

SIGNATURE must be


No faxes, photocopies

or emails will be

accepted

Please include a

document from your

bank showing your

account details

70

NEW

Q: Who can witness my spouse signature?

A:

1. The UN Pension Fund if the spouse brings the documents to

our offices.

2. Officials of the United Nations System

3. Local Government Authorities (City Hall), Consular

Authorities

Witness of Signature

71

Q: How much will my spouse receive as widow’s

benefit?

A:

In general, the amount equals half of the retiree’s

full pension (before any lump sum commutation)

This amount is payable for life and is adjusted for

cost of living adjustment.

Amount

72

Q: If the date of death is in mid-month, do I have the right the full

month’s benefit?

A: Yes, the retiree has the right to the full amount of the month

of death. The spouse has the right of the pension on the first

day of the month following the death.

Q: How long would my spouse have to wait to receiving her

survivor’s pension after my death?

A: If the Fund receives the required documents in good order,

we establish the survivor’s benefit within 4 to 6 weeks. The

Fund is currently experiencing some delays in establishing

survivor’s benefits. A Task Force has been established to

analyze and process Survivor’s Benefits.

Transition from Retiree to Survivor

73

Q: What can I do to facilitate the establishment of my spouse

pension after my death?

A: Please establish a pension file for your spouse where you can pre-fill out

the Pens. E/2 form.

If you have a joint account and your bank agrees not to close it after

your death, you can already fill the account number on Page 2 of the

Pens. E/2 form.

Keep the Pens. E/2 and a bank document in the Pension File. PLEASE

DO NOT SEND THIS FORM RIGHT NOW

Please send right now (but keep copy in the pension

folder) to the Fund a copy of your marriage certificate, Birth

Certificate for you and your spouse and a copy of your spouse

Official ID (passport or ID card)

Survivor’s Benefit: Recommendation

74

Internet Access

75

WWW.UNJSPF.ORG 76

78

In the unsecured part of our site, you will find important categories

such as Forms, Publications and documents (where you can find the

bookets), and UN exchange rates CPI and Contacting Us

Register (single account as participant and as retiree)

79


80


81


82

IPAS New

features for

Retires 94

IPAS NEW FEATURES FOR RETIREES

Possibility to aggregate or Disaggregate two or

more payments going to the same Payee

Possibility to go Paperless

Possibility for retirees with small pensions to

receive scheduled arrears payments in non-

monthly intervals

Possibility for retirees on the USD Track to

print their Certificate of Entitlement Online

(effective 2017 CE) 95

Possibility to aggregate or Disaggregate two or more

payments going to the same Payee

It is now possible for retirees with multiple retirement numbers to

combine their payments as long as they are paid in the same

currency to the same person with the same payment

instructions

It is also possible to remove one or more retirement numbers

from the aggregated payments and have it or them paid

separately

It is possible to unite a child benefit with the main benefit after it

has been separated (was impossible under PENSYS) 96

Possibility to go Paperless

For those who do not wish to receive notifications

by mail, they can use the “Yes Paperless” option in

Member Self Service to stop mail notifications.

For beneficiaries on the Two-Track, the Certificate

of Entitlement (CE) will still be sent by mail as it

also serves as proof of residence for the period.

97

Possibility for retirees with small pensions to receive scheduled arrears payments in non-monthly intervals

Beneficiaries with small pensions ($400 or less) can choose

to receive payments Quarterly, Semi-annually or Annually.

Upon request, the payment will be scheduled at the end of

the third month (3 payments), sixth month (6 payments) or

twelfth month (12 payments) depending of the choice.

Unlike before, the payment is released as part of the payroll

payments and is made through local clearing systems to

avoid bank charges for most cases.

98

Possibility for retirees on the USD Track to print their Certificate of

Entitlement Online (2017)

Beneficiaries on the US Dollar Track will

receive a copy of their Certificate of Entitlement

on their Member Self Service

They will then print the CE, sign it and return it

in Original

The Original CE will still be mailed unless the

beneficiary has selected the “Yes Paperless”

option 99

100

SOME BOOKLETS THAT COULD BE OF

INTEREST TO YOU

To Contact Us

101

How to contact us. . . U

NJS

PF

NY

UNJSPF HQ P.O. Box 5036 New York, NY 10017 USA

Tel: +1-212-9636931 Fax: +1-212-9633146 E-mail: [email protected]

UN

JS

PF

GV

A UNJSPF GVA Office

Palais des Nations

1211 Geneva 10

Tel: +41-22-9288800

Skype ID: unjspf.geneva

Fax: +41-22-928 9099

E-mail: [email protected]

Office:

DuPont de Nemours Building

Ch. du Pavillon 2,

1218 Grand-Saconnex

Switzerland

Open Hours:

Monday-Friday

08:30 to 17:00 with or without

Appointment

mailto:[email protected]

mailto:[email protected]

Q: I heard you have Skype in Geneva, how can I use it to call you

for free?

R: Please install

Then go to Add a Contact and add unjspf.geneva

You will be accepted automatically and our ID is always online.

How to call us free with Skype

103

Select the

UNJSPF GVA

contact and click

on

To be able to choose the option given on our phone system, please show the

Dial Pad after having initiated the call, by clicking on Call and then Show

Dial Pad


104

After having clicked on Show Dial Pad, the Dial Pad becomes visible and you

can select the option you wish to access on our phone system (for

example 1 for beneficiary or 2 for participant)


105

IN-RETIREMENT PRESENTATION EURSA COPENHAGEN · 10 Prospects Change in Normal Retirement Age to 65...

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Transcript of IN-RETIREMENT PRESENTATION EURSA COPENHAGEN · 10 Prospects Change in Normal Retirement Age to 65...