RESTRICTED  
 
WT/BFA/W/376  
15 October 2015  
(15-5409)  Page: 1/27  
Committee on Budget, Finance and Administration   
 
  ACTUARIAL POSITION OF THE WTO PENSION PLAN 
NOTE BY THE CHAIRMAN OF THE WTOPP MANAGEMENT BOARD 
1  BACKGROUND 
The WTO Pension Plan (WTOPP) is administered by  a Management Board consisting of a Chairman 
elected by the General Council, four members and four alternates also elected by the General Council and four members and four alternates appointed by the Director General. 
The Management Board is responsible for the management and administration of the Plan with 
particular regard to its actuarial balance.  The Management Board undertakes a formal actuarial valuation of the Plan at least once every 
three years. The last formal actuarial valuation of the Pension Plan based on its situation 
at 31 December 2013 determined the existence of  a modest but persistent funding imbalance. 
Pursuant to Article 9(d) of the Plan Regulations, the Management Board is required to recommend 
to the General Council (through the CBFA) any necessary corrective action. Such action may 
include an adjustment to contributions and/or benefits or any other measure which the Management Board deems appropriate to restore an actuarial balance. 
 
By means of this document the Management Boar d recommends four measures to adjust benefits 
to address that deficit (hereafter referred to as the "actuarial measures"). The measures do not recommend any changes to the contributions. 
 
To arrive at these recommendations the Manage ment Board established an actuarial working 
group to assist the Board in evaluating options for appropriate actions. Consultations within the 
working group and with the full Board suggested (1 ) the Board intended to arrive at recommended 
actions to correct the actuarial imbalance relatively quickly; (2) priority would be given to actions that would not be considered to impact core benefits; and (3) that currently WTO Members would 
not be in a position to support an increase in the funding resources available for the Plan. 
 The actuarial working group met regularly during  the course of 2014 and early 2015 and reported 
regularly to the Management Board. Subsequently  a working group on governance consulted with 
the Plan's actuary and the WTO legal advisor to de velop language to revise the Regulation of the 
Plan. In addition to the actuarial measures , the governance working group identified 
four additional recommended changes intended to  bring greater administrative clarity to the 
Regulations. These changes do not have actuarial or financial impacts for the Plan. 
 The full package of actuarial and administrative revisions was endorsed by the Management Board 
at its meeting on 18 September 2015 and is now be ing presented to the CBFA for its review so 
that it can make recommendations to the General Council. It is the strong hope of the Management Board that these changes can be implemented with an effective date of 1 January 2016. This will require a decision of  the General Council at its last meeting of 2015. WT/BFA/W/376 
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  Table 1: Estimated required contribution rate and effect of the proposed actuarial 
measures 
Measure Contribution 
rate 
Required contribution rate according to valuation at 31/12/2013 24.9% 
Actuarial measure 1: maximum lump sum increased from 1/3 to 1/2 -0.3% 
Actuarial measure 2: FAR is calculated over  a period extended from 3 to 5 years -0.3% 
Actuarial measure 3: early reti rement benefit-reduct ion raised from 3% to 6% (raised from 
1% to 3% after 30 years of service) -0.5% 
Actuarial measure 4: cost-of-living indexation a pplied only to one-third of deferred benefit -0.1% 
Overall expected effect of the respective actuarial measures -1.1% 
Expected required contribution rate, after correction a 23.8% 
Actual contribution rate 23.7% 
a The funding imbalance identified in the actuarial va luation at 31 December 2013 was actually 1.2%. When 
assessed individually, the effect of  the four proposed actuarial measures added up to 1.2% but this 
reduction amounted to 1.1% in the overall actuarial assessment of their combined effect. The difference is considered acceptable as it is within the margin of  error for these types of actuarial exercises. A new 
valuation will be completed at the end of 2016. 
2  PROPOSALS 
According to the assessment made by the Plan's consulting actuary summarized in table 1 above, 
these changes should restore the Plan's long-term balance by reducing the required long-term contribution rate by 1.1% with no budgetary impact on WTO members. The four actuarial 
measures are further described below, and presented together with the corresponding 
amendments to the Plan Regulations.  
The Management Board also recommends four other revisions to the Plan's regulations for 
purposes that are not related to restoring the Plan's funding balance. These revisions (hereunder referred to as the "other revisions") are presented after the four actuarial measures, 
together with the corresponding amendments to the Plan's regulation. 
 
The recommended changes are reflected in the proposed new regulations, attached as an annex to this report. 
 
2.1  Actuarial measure 1: increase the maximum lump sum commutation 
For all Plan participants, it is proposed to increase from 1/3 to 1/2 the maximum part of 
a retirement benefit which may be commuted into a lump sum. The expected savings from this 
measure is a 0.3% reduction in the required long-term contribution rate. WT/BFA/W/376 
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  Current language Proposed language 
Article 23 
Retirement benefit 
 […] 
 
(b) The benefit shall, subject to paragraph (c) below, be payable at the standard annual rate 
obtained by multiplying the first 30 years of 
contributory service by 2% of FAR and the years of contributory service in excess of 30, but not exceeding ten, by 1% of FAR. 
 
  
(c) The benefit may be commuted at the 
request of the participant into a lump sum not exceeding 1/3 of the actuarial equivalent of the 
benefit or the amount of the participant's own 
contributions, whichever is the larger.  Article 24 
Early retirement benefit  
 (b) The benefit shall be payable at the 
standard annual rate for a retirement benefit, 
[…]  
 
   
(c) The benefit may be commuted at the 
request of the participant into a lump sum on the conditions specified in Article 23. 
 
Article 25 Deferred retirement benefit  
 
[…]  (b) The benefit shall be payable at the 
standard annual rate […] 
  
 
(c) The benefit may be commuted at the request of the participant into a lump sum 
equivalent to the participant's own 
contributions. Article 23 
Retirement benefit 
 […] 
 
(b) The benefit shall, subject to any 
reduction resulting from the application of 
paragraph (c) below, be payable at the 
standard annual rate obtained by multiplying the first 30 years of contributory service by 2% of FAR and the years of contributory service in 
excess of 30, but not exceeding ten, by 1% of 
FAR.  
(c) The benefit may be commuted at the 
request of the participant into a lump sum not exceeding 1/2 of the actuarial equivalent of the 
benefit or the amount of the participant's own 
contributions, whichever is the larger.  Article 24 
Early retirement benefit  
 (b) the benefit shall, subject to any 
reduction resulting from the application of 
paragraph (d) below,  be payable at the 
standard annual rate for a retirement benefit, 
[…] 
 […]  
(d) The benefit may be commuted at the 
request of the participant into a lump sum on the conditions specified in Article 23. 
 
Article 25 Deferred retirement benefit  
 
[…]  (b) The benefit shall , subject to any 
reduction resulting from the application of 
paragraph (c) below,  be payable at the 
standard annual rate […] 
 
(c) The benefit may be commuted at the request of the participant into a lump sum on 
the conditions specified in Article 23.  
2.2  Actuarial measure 2: extend the period over which the FAR is calculated 
For future Plan participants, it is proposed to extend from three years to five years the period over 
which the final average remuneration (FAR) is calculated. The expected savings from this measure is a 0.3% reduction in the required long-term contribution rate. WT/BFA/W/376 
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  Current language Proposed language 
Article 2 
Definitions 
 […] 
 
(i) " Final average remuneration"  (FAR) shall 
mean the average annual pensionable 
remuneration of a participant during: 
   
 
  
 
  
(i)  The thirty-six completed calendar months 
of highest pensionable remuneration within the last five years of the participant's contributory service; or 
 
(ii)  If the participant's contributory service was less than five years, the thirty-six 
completed calendar months of highest 
pensionable remuneration within the actual period of such service; or 
 
(iii)  If the participant's contributory service contained less than thirty-six completed calendar months, the actual number of such 
months within the participant's contributory 
service; or  
(iv)  If the participant's contributory service 
contained no completed calendar month, the actual period of such service. Article 2 
Definitions 
 […] 
 
(i) " Final average remuneration"  (FAR) shall 
mean the average annual pensionable 
remuneration of a participant during: 
 For participants whose participation commenced before 1 January 2016: 
 
[unchanged]  
For participants whose participation 
commenced on or after 1 January 2016:  
(v)  The sixty completed calendar months of 
highest pensionable remuneration within the last seven years of the participant's 
contributory service; or 
 
(vi)  If the participant's contributory service was less than seven years, the sixty  completed 
calendar months of highest pensionable 
remuneration within the actual period of such service; or 
 
(vii)  If the participant's contributory service contained less than sixty  completed calendar 
months, the actual number of such months 
within the participant's contributory service; or 
  
(viii)  If the participant's contributory service 
contained no completed calendar month, the actual period of such service. 
2.3  Actuarial measure 3: raise the benefit-reduction for early retirement 
At present, early retirement benefits are reduced by 3% per year before normal retirement age, 
and by 1% per year for staff who cumulated 30 years or more of contributory service. 
These reduction factors are not actuarially neutral. For future Plan participants, it is proposed to 
raise the early retirement reduction factor to 6% per year of early retirement, which would be actuarially neutral. After 30 years of contributory  service, this factor would be reduced to 3%. 
The expected savings from this measure is a 0.5% reduction in the required long-term 
contribution rate. WT/BFA/W/376 
- 5 - 
  Current language Proposed language 
Article 24 
Early retirement benefit  
 […] 
 
  
 
 (b) The benefit shall be payable at the standard annual rate for a retirement benefit, 
reduced by 3% of such benefit for each year 
between the date the benefit becomes effective and the date corresponding to the participant's 
normal retirement age, except that, if the 
contributory service of the participant was 30 years or longer, the benefit shall be reduced 
by 1% per year. Article 24 
Early retirement benefit  
 […] 
 
(b) For participants whose participation 
commenced prior to 1 January 2016 
[unchanged ] 
 (c) For participants whose participation 
commenced on or after 1 January 2016 the 
benefit shall […] be payable at the standard 
annual rate for a retirement benefit, reduced by 6% of such benefit for each year between the 
date the benefit becomes effective and the date 
corresponding to the participant's normal retirement age, except that, if the contributory 
service of the participant was 30 years or 
longer, the benefit shall be reduced by 3% per year. 
2.4  Actuarial measure 4: apply cost-of-living in dexation only to one-third of deferred 
benefit 
For future Plan participants who would subsequently separate from WTO and opt for a deferred 
pension, it is proposed to reduce the scope of the cost-of-living indexation applied between the date of separation and that of the first benefit pa yment. The share of future entitlement subject to 
this indexation would be reduced from 100% to one third. The expected savings from this measure 
is a 0.1% reduction in the required long-term contribution rate. WT/BFA/W/376 
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  Current language Proposed language 
Article 32 
Cost-of-living adjustment of benefits 
 […] 
 
(h) For the adjustment of deferred retirement benefits, the reference date for the application 
of paragraphs (b) and (g), above, shall be the 
date of separation from service of the beneficiary. Article 32 
Cost-of-living adjustment of benefits 
 […] 
 
(h) For the adjustment of deferred retirement benefits, the reference date for the application 
of paragraphs (b) and (g ), above, shall be the 
date of separation from service of the beneficiary and the scope of adjustment 
under paragraphs (b) and (g) shall be 
made as follows: 
• For the period from the date of 
separation to the date of commencement 
of payment of the benefit: 
• For participants whose contributory 
service began prior to 1 January 2016, 
the full deferred retirement benefit 
entitlement shall be adjusted in accordance with the provisions of paragraphs (b) and (g). 
• For participants whose contributory 
service began on or after 1 January 2016, 1/3 of the deferred 
retirement benefit entitlement shall be 
adjusted in accordance with the provisions of paragraphs (b) and (g). 
• For the period beginning on the date on 
which payment of the benefit commences, the full deferred retirement benefit shall be adjusted in accordance 
with the provisions of paragraphs (b) 
and (g).  
2.5  Other revision 1: the Plan's administrative cost 
Since the WTO established its Pension Plan in 1999, its Secretariat and the Management Board 
have been supported by WTO staff members within the Organization's premises. All other costs of 
administering the Plan are borne by the Plan. The ex ternal auditors have asked that this practice 
be clarified. The proposed revision is a codification of the long-established practice and implies no 
change in the financial obligations of Members toward the Plan. 
 
Current language Proposed language 
Article 5 
Administration of the Plan 
 
[…]  
(f) All expenses incurred in administering the 
plan, investing plan assets, employing the services of professional advisers and those incurred by the WTO in providing facilities for 
and in support of the Management Board shall 
be borne by the Plan. Each element shall be separately identified in the annual report. Article 5 
Administration of the Plan 
 
[…]  
(f) With the exception of the costs 
incurred by the WTO in providing a Secretariat in support of the Plan,  
all expenses incurred in administering the Plan, 
investing Plan assets, and employing the 
services of professional adviser s shall be borne 
by the Plan. Each element of the expenses 
borne by the Plan  shall be separately 
identified in the annual report. WT/BFA/W/376 
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  2.6  Other revision 2: clarified calculation of child's benefits 
Changes are proposed to article 30(d) in order to clarify that the specified amount of the child's 
benefit applies not only in case of death of the participant but also in cases where beneficiaries are alive, and to clarify the benefit that serves as a reference for calculation in case of death in 
service. The proposed language change is a codifi cation of how the article has been applied in the 
past.  
Current language Proposed language 
Article 30 
Child's benefit  […] 
 
(d) Subject to paragraphs (e) and (f) below, the benefit shall be payable during the 
continuance of any periodic benefit resulting 
from retirement, early retirement or disability, or, in the event of death of the participant, 
at the annual rate of one third of the benefit 
which was or would have been payable to the participant, subject to a minimum of the amount corresponding to one half of that 
specified in Annex 2(b)(i) of the Staff Rules and 
a maximum of the amount corresponding to that specified in Annex 2(b)(i) of the Staff 
Rules, expressed in Swiss francs per annum. Article 30 
Child's benefit  […] 
 
(d) The benefit shal l, during the continuance 
of any periodic benefit resulting from 
retirement, early retiremen t, d isability, 
or death in service, but subject to 
paragraphs (e) and (f ) below, be payable  
at the annual rate of one third of the benefit 
payable to the participant or, if the participant died in service, one third of the retirement or disability benefit  whic h would 
have been payable to the participant if the 
participant had become entitled thereto at the date of death , subject to a minimum of 
the amount corresponding to one half of that 
specified in Annex 2(b)(i) of the Staff Rules  and 
a maximum of the amount corresponding to 
that specified in Annex 2(b)(i) of the Staff 
Rules , expressed in Swiss francs per annum. 
2.7  Other revision 3: change age when incapacity is deemed permanent 
In the framework of disability pension benefits, a beneficiary's incapacity is deemed permanent 
(therefore no longer subject to medical review) when they reach age 55. It is proposed to change this age to the age when the beneficiary would become entitled to early retirement, which varies 
depending on when the beneficiary comm enced their participation in the Plan. 
 
Current language Proposed language 
Article 28 
Disability benefits 
 […]  
(b) The total disability benefit shall 
commence on separation or, if earlier, on the expiration of the paid leave due to the 
participant and shall continue for as long as the 
participant remains fully incapacitated, provided that after age of 55 incapacity shall be deemed 
to be permanent. Article 28 
Disability benefits 
 […]  
(b) The total disability benefit shall 
commence on separation or, if earlier, on the expiration of the paid leave due to the 
participant and shall continue for as long as the 
participant remains fully incapacitated . 
The incapacity shall be deemed to be 
permanent after the age when the 
beneficiary would have been entitled to early retirement as per the provisions of Article 24.  WT/BFA/W/376 
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  2.8  Other revision 4: correction of a typographic error 
Current language Proposed language 
Article 29 
Surviving spouses's benefit Article 29 
Surviving spouse's benefit 
 3  RECOMMENDATIONS 
The Management Board recommends that th e CBFA endorse the proposed revisions to 
the Regulations of the WTO Pension Plan as de scribed in this document and as embodied 
in the Annex. 
 
The Management Board further recommends th at each of the above recommendations 
enter into force on 1 January 2016.  
_______________ 
 WT/BFA/W/376 
- 9 - 
  ANNEX 
 
REGULATIONS OF THE WTO PENSION PLAN 
SECTION I 
GENERAL PROVISIONS  
 Article 1 
Scope and purpose of the Plan  
  The Pension Plan of the World Trade Organi zation (hereinafter called the "Plan") shall 
provide retirement, death, disability and related benefits for the staff of the World Trade 
Organization (hereinafter called the "WTO"). 
 Article 2 
Definitions  
 
In these Regulations : 
 
(a) "Actuarial equivalent"  and "equivalent actuarial value"  shall mean the equivalent determined 
according to the actuarial tables adopted by the Management Board under Article 8. 
 
(b) "Administrative Rules"  shall mean the rules adopted by the Management Board under 
Article 5. 
 
(c) " Beneficiary " shall mean a person entitled to receive,  or in receipt of, a benefit under these 
Regulations. 
 
(d) "Benefit"  shall include a withdrawal settlement under Article 26, and a residual settlement 
under Article 33. 
 (e) "Child"  shall mean a child existing on the date of separation or death in service of a 
participant and shall include the step-child or  adopted child of a participant, and a child in 
utero  upon its birth; in the event of uncertainty as to whether adoption has taken place, the 
matter shall be decided by the Management Board. 
 
(f) "Commute"  shall mean cause to be converted and paid in a lump sum part or the whole of a 
benefit otherwise payable at periodic intervals, according to the actuarial tables of the Plan. 
 
(g) " Dependent " shall mean dependent according to the criteria set forth in Staff Rule  106.13. 
 (h) " External auditors " shall mean the External Auditors of the WTO. 
 
(i) " Final average remuneration"  (FAR) shall mean the average annual pensionable 
remuneration of a participant during: 
 
 For participants whose participation commenced before 1 January 2016:  
(i)  The thirty-six completed calendar months of highest pensionable remuneration within 
the last five years of the participant's contributory service; or 
 
(ii)  If the participant's contributory serv ice was less than five years, the thirty-six 
completed calendar months of highest pensionable remuneration within the actual 
period of such service; or 
 
(iii) If the participant's contributory service contained less than thirty-six completed 
calendar months, the actual number of such months within the participant's contributory service; or 
 
(iv) If the participant's contributory servic e contained no completed calendar month, the 
actual period of such service. WT/BFA/W/376 
- 10 - 
   For participants whose participation commenced on or after 1 January 2016: 
 
(v)  The 60 completed calendar months of highest pensionable remuneration within the 
last seven years of the participant's contributory service; or 
 
(vi)  If the participant's contributory service was less than seven years, the sixty completed 
calendar months of highest pensionable remuneration within the actual period of such 
service; or 
 (vii) If the participant's contributory service contained less than sixty completed calendar 
months, the actual number of such months within the participant's contributory 
service; or 
 
(viii) If the participant's contributory service contained no completed calendar month, 
the actual period of such service. 
 (j) "Interest"  shall mean interest compounded annually at the rates specified in Article 8. 
 
(k) " Management Board"  shall mean the Management Board specified in Article 4. 
 (l) "Normal retirement age" shall mean age 65, except that it shall mean age 62 for a 
participant whose participation commenced before 1 January 2010 and age 60 for a 
participant whose participation commenced before 1 January 1990. 
 
(m) " Own contributions"  shall mean the contributions, not exceeding the percentage of the 
participant's pensionable remuneration specified in Article 20(a), made to the Plan by or on 
behalf of a participant in respect of contributory service under Article 16, with interest. 
 
(n) "Participant" shall mean a member of the WTO staff who is participating in the Plan in 
accordance with the terms of Article 15. 
 
(o) " Part-time " shall mean employment under conditions requiring work during at least half the 
normal weekly working hours prescribed under Staff Rule  106.1(a). 
 
(p) "Pensionable remuneration" shall mean the remuneration defined in Article 19. 
 (q) "Restoration" shall mean the inclusion in contributory service of the prior contributory 
service of a former participant who again becomes a participant. 
 (r) "Secondary dependant"  shall mean the mother or father, or an unmarried brother or sister 
under the age of twenty-one, who was dependent on the participant at the date of the 
participant's death if the participant died in service, or from the date of the participant's 
separation to the date of death if the participant died after separation. 
 
(s) "Director-General"  shall mean the Director-General of the WTO. 
 (t) "Separation" shall mean ceasing to be in the service of the WTO. 
 
(u) "Service" shall mean employment as a full-time or part-time member of the staff of the 
WTO. 
 
(v) "Validation"  shall mean the inclusion in contributory service of a period of non-contributory 
service which occurred prior to the commencement of participation. 
 
Article 3 
Interpretation  
 
 The Management Board shall, to the extent requ ired to give effect thereto, interpret these 
Regulations . WT/BFA/W/376 
- 11 - 
  SECTION 2 
ADMINISTRATION 
 Article 4 
Management Board  
 (a) The Management Board shall consist of a chairman elected by the General Council, 
four members and four alternates elected by the General Council, and four members and 
four alternates appointed by the Director-General, of whom two members and two alternates shall be selected by the Director-General from a list drawn up by the participants. In addition, the beneficiaries may designate an observer. 
 
(b) The Chairman and the elected and appointed members and alternates shall hold office for 
a term of three years or until the election or  appointment of their successors and they shall 
be eligible for re-election or re-appointment. In the event that the Chairman or a member or 
alternate ceases, during their term, to hold office, another member or alternate may be elected or appointed to hold office during the remainder of the term. 
 
(c) Decisions of the Management Board shall normally be taken by consensus and otherwise by 
simple majority. 
 
Article 5 
Administration of the Plan  
 
(a) The Management Board shall be responsible for the management and administration of the 
Plan, with particular regard to its actuarial balance. 
 
(b) The management and administration of the Plan shall be in accordance with these 
Regulations and with Administrative Rules consistent therewith, which shall be adopted by the Management Board and approved by the General Council. 
 
(c) The duties and authority of the Management Board as well as rules for the auditing of 
accounts shall be laid down in rules of procedure which shall be approved by the General Council. 
 
(d) The Management Board shall present a report each year to the General Council and to the 
participants, giving in particular: 
 
 (i) an account of the financial transactions during the year,   (ii) the balance sheet of the Plan, 
 
 (iii) a summary of changes in Plan membership and of benefits awarded during the year,  
 (iv) a statement of the investment principles being followed by the Management Board, 
 
(v) a summary of the investment performance of the Plan during the year, and 
a description of the assets held at the end of the year, 
  (vi) any other decisions taken in connection with the administration of the Plan.  
(e) An audit of the accounts of the Plan shall be made annually by the External Auditors, 
in a manner agreed between the External Auditors and the Management Board; a copy of the audit report shall be included in the report under paragraph (d) above. 
 
(f) With the exception of the costs incurred by the WTO in providing a Secretariat in support of 
the Plan, all expenses incurred in admini stering the Plan, investing Plan assets, 
and employing the services of professional advi sers shall be borne by the Plan. Each element 
of the expenses borne by the Plan shall be separately identified in the annual report. 
 WT/BFA/W/376 
- 12 - 
  Article 6 
Secretariat  
 
The Director-General shall appoint a secretary upon a recommendation from the 
Management Board. The appointment of the Secretary shall be subject to regular review by the 
Management Board. The Secretary, acting under th e authority of the Management Board, shall be 
qualified to apply these Regulations , carry out the decisions of the Management Board and deal 
with current business in accordance with the dire ctives of the Management Board. The Secretary, 
or the officer empowered to act in the absence of the Secretary, shall certify for payment all benefits properly payable under these Regulations . 
 
Article 7 
Consulting actuary and other advisers  
 
The Director-General shall appoint a consulting actuary to the Management Board upon 
recommendation of the Board for the purpose of providing actuarial services to the Plan. Such other advisers as the Management Board considers appropriate and necessary shall be 
appointed by the Director-General upon the recommendation of the Board. 
 Article 8 Adoption of actuarial bases  
 
(a) The Management Board shall, on the advice of the consulting actuary, adopt, and revise 
when appropriate, service, mortality and other tables and shall decide upon the rates of 
interest to be used in the periodic actuarial valuation of the Plan and for other 
actuarial calculations. 
 
(b) At least once in every three years the Management Board shall have an actuarial 
investigation made into the service, mortality and benefit experience of the participants and beneficiaries of the Plan and shall determine wh ether the actuarial bases of the Plan should 
be modified. 
 
(c) Without prejudice to paragraph (a) above, the rate of interest to be used in all calculations 
required in connection with these Regulations  shall be 4%. 
 
Article 9 Actuarial valuation of the Plan  
 
(a) The Management Board shall have an actuarial valuation made of the Plan at least once 
every three years by the consulting actuary. 
 
(b) The report on the actuarial valuation shall explain the assumptions on which the calculations 
are based, describe the method of valuation used, and state the results and conclusions. 
 
(c) The Management Board shall, in the light of the report of the consulting actuary, 
recommend such action as it deems desirable to the General Council through the Committee on Budget, Finance and Administration, which sh all both be provided with copies of the 
report. In making its recommendations, the Management Board shall provide a best 
estimate of the possible implications for the funding of benefits of maintaining contributions at the existing level, and for the funding of contributions of maintaining benefits at the existing level. 
 
(d) In the particular case of an actuarial deficit or surplus, the Management Board shall 
recommend to the General Council any necessary corrective action. Such action may include 
an adjustment to contributions and/or benefits or any other measure which the Management 
Board deems appropriate to restore an actuarial balance. WT/BFA/W/376 
- 13 - 
  Article 10 
Transfer of pension rights  
 
The Management Board may, subject to the concurrence of the General Council, approve 
agreements with Member Governments and with intergovernmental organizations, with a view to 
securing continuity of pension rights for participants in the Plan.  
SECTION 3 
ASSETS AND INVESTMENT 
 Article 11 
Assets of the Plan  
 
The assets of the Plan shall be derived from: 
(a) the contributions of the participants, 
(b) the contributions of the WTO, (c) the yield from the investments of the Plan, and 
(d) receipts from any other source. 
 Article 12 Property in the assets 
 
(a) The assets shall be the property of the Pl an and shall be acquired, deposited and held, 
separately from the assets of the WTO, on beha lf of the participants and beneficiaries of the 
Plan. The assets shall be used totally and exclusively for the purposes of these Regulations . 
(b) All monies forming part of the Plan which are not immediately required to be expended for 
the purposes of the Plan shall be invested by the Management Board in the name of the 
Plan. Monies shall be invested in: 
 
(i) stocks, shares, debentures, annuities or other policies of assurance or any other 
generally recognized investments, including any interests in property; 
(ii) any instrument intended to remove or reduce the adverse effect upon Plan 
investments of fluctuations in the relative values of the Swiss franc and other currencies in which such investments are held; 
(iii) any instrument intended to remove or reduce the adverse effect upon Plan 
investments of fluctuations in the relative values of these investments and some other class of investment. 
 
Article 13 Investment of the assets  
(a) The Management Board shall determine the investment policy after taking professional 
advice and shall appoint investment managers to implement that policy. 
(b) The Management Board shall arrange for the maintenance at all times of detailed accounts 
of all investments held, contributions rece ived, benefits paid, income received on 
investments and all other transactions of the Plan. The accounts must be sufficient to meet all the requirements of Article 5. 
 
Article 14 Currency  
(a) Contributions, sums payable for restorat ion and validation, and benefits under these 
Regulations shall be calculated in Swiss francs. The accounts shall be kept in that currency. 
(b) Benefits may, however, be paid in any curre ncy selected by the beneficiary at the rate of 
exchange for the Swiss franc applicable for the pu rposes of the Plan on the date of payment, 
except that the beneficiary may not amend the choice of currency more than once every six months. WT/BFA/W/376 
- 14 - 
  SECTION 4 
PARTICIPATION, CONTRIBUTORY SERVICE AND CONTRIBUTIONS 
 Article 15 
Participation  
 (a) Every member of the staff of the WTO shall become a participant in the Plan: 
 
 (i) upon taking up a contract for six months or longer, or   (ii) upon completing six months of service without an interruption of more than 30 days, 
 
whichever is the earlier, provided that participation is not expressly excluded by the terms of the contract. 
 
(b) Participation shall cease when a benefit becomes payable in respect of a participant, except 
that participation shall not be deemed to have ceased where a participant resumes 
contributory service within 12 months after separation without a benefit having been paid to 
that participant. 
 Article 16 
Contributory Service  
 (a) Contributory service shall accrue to a participant from the date of commencement to the 
date of cessation of participation. 
 (b) Contributory service may accrue in respect of special leave without pay if contributions are 
received by the Plan in accordance with Article 20(c). 
 (c) Additional contributory service may accrue to a participant if prior service is validated or 
restored in accordance with Article 17 or 18. 
 
Article 17 Validation of non-contributory service  
 
(a) Participants may elect, within one year of the commencement of their participation, to 
validate prior service during which they were not eligible under these Regulations  for 
participation in the Plan, provided that: 
  (i) such prior service was with the WTO,  
 (ii) participation succeeded the ending of such service within two years, 
 
(iii) the service was the most recent prior to their participation and had not been 
interrupted by a break of more than one year, 
 
(iv) participation had not, during such servic e, been expressly excluded by the terms of 
the contract, and 
 
(v) the totality of the period open to validation is elected. 
 
(b) A beneficiary of the participant under these Regulations , other than the recipient of 
a residual settlement, may, if the participant ha s died before the expiry of the period within 
which election may be made, make the election on behalf of the participant within 
such period. 
 (c) Validation shall be subject to receipt by the Plan of contributions in accordance with 
Article 20(d). 
 WT/BFA/W/376 
- 15 - 
  Article 18 
Restoration of prior contributory service  
 (a) A former participant to whom a benefit under these Regulations , other than a disability 
benefit, has been or is being paid and who again becomes a participant, may, 
within one year of the recommencement of participation, elect to restore the prior contributory service. The election may appl y only to the totality of such service. 
 
(b) The prior contributory service of a former participant to whom a benefit under these 
Regulations is due but has not been paid, or to  whom a disability benefit has been or is 
being paid, and who again becomes a participant, shall be restored. 
 
(c) A beneficiary of a participant under these Regulations, other than the recipient of a residual 
settlement, may, if the participant has died befo re the expiry of the period within which the 
election may be made, make the election on behalf of the participant within such period. 
 (d) Restoration shall be subject to receipt by the Plan of contributions in accordance 
with Article 20(e). 
 Article 19 Pensionable remuneration 
 
 The pensionable remuneration shall be as set out in Annex 1 of the Staff Rules  which is 
reproduced in Annex 1 of the present Regulations . 
 
Article 20 Contributions  
 
(a) Each participant shall pay a contribution de ducted from the monthly salary and transferred 
directly to the Plan. For periods of cont ributory service prior to 1 January 2010, 
the contribution of the participant and of the WTO shall correspond to 7.5% and 15% of 
pensionable remuneration, respectively. For periods of contributory service as from 
1 January 2010, the contribution of the partic ipant and of the WTO shall correspond to 7.9% 
and 15.8% of pensionable remuneration, respectively. 
 
(b) The contributions prescribed in paragraph (a) above shall be paid concurrently with the 
accrual of contributory service under Article 16. 
 
(c) Contributions for the purpose of Article 16(b), in respect of special leave without pay, shall 
be payable concurrently with such leave, by the participant in full, or, in exceptional cases, by the WTO in full, or in part by the participant and in part by the WTO. 
 
(d) Contributions for the purpose of validation und er Article 17 shall be payable, with interest, 
by the participant and by the WTO in th e amounts which would have been payable 
respectively by each, had service during the period been contributory. 
 (e) Contributions for the purpose of restoration under Article 18 shall consist of the benefit, 
other than the disability benefit, received by the participant in respect of the participant's 
previous participation, together with interest from the date of payment of the benefit. 
 (f) In any case in which a period of contributory service accrues, or is deemed to accrue, 
to a participant otherwise than in accordance with Article 16, contributions shall be payable 
to the Plan, with interest, by the participant in the amount which would have been payable had service during such period been contributo ry, and by the WTO in an amount sufficient to 
meet any additional obligations to be borne by the Plan resulting therefrom. 
 Article 21 
Guarantee of benefits 
  In the event of dissolution of the WTO, the General Council shall take the necessary steps to 
guarantee the benefits acquired under these Regulations  by participants and beneficiaries at the 
date of dissolution. WT/BFA/W/376 
- 16 - 
  SECTION 5 
BENEFITS 
 Article 22 
Entitlement to benefits  
 (a) A participant who is not eligible for a retirement benefit under Article 23 or a disability 
benefit under Article 28 may elect on separation to receive either an early retirement 
benefit, or a deferred retirement benefit or  a withdrawal settlement if the participant 
satisfies the conditions of Article 24, 25 or 26, respectively. 
 
(b) Retirement, early retirement and deferred reti rement benefits shall be payable at periodic 
intervals for life. 
 
Article 23 
Retirement benefit  
 
(a) A retirement benefit shall be payable to a participant whose age on separation is the normal 
retirement age or more and whose contributory service was five years or longer. 
 (b) The benefit shall, subject to any reduction resulting from the application of paragraph (c) 
below, be payable at the standard annual rate  obtained by multiplying the first 30 years of 
contributory service by 2% of FAR and the ye ars of contributory service in excess of 30, 
but not exceeding ten, by 1% of FAR. 
 
(c) The benefit may be commuted at the request of the participant into a lump sum not 
exceeding 1/2 of the actuarial equivalent of th e benefit or the amount of the participant's 
own contributions, whichever is the larger. 
 Article 24 Early retirement benefit  
 
(a) An early retirement benefit shall be payable to a participant whose contributory service was 
five years or longer, provided that the peri od remaining between the effective date of 
retirement and the date corresponding to the participant's normal retirement age shall not 
exceed five years. 
 
(b) For participants whose participation commenced prior to 1 January 2016, the benefit shall, 
subject to any reduction resulting from the app lication of paragraph (d) below, be payable at 
the standard annual rate for a retirement benefit, reduced by 3% of such benefit for each year between the date the benefit becomes effective and the date corresponding to the 
participant's normal retirement age, except that , if the contributory service of the participant 
was 30 years or longer, the benefit shall be reduced by 1% per year. 
 
(c) For participants whose participation commenced on or after 1 January 2016, the benefit 
shall, subject to any reduction resulting from the application of paragraph (d) below, be payable at the standard annual rate for a retirement benefit, reduced by 6% of such 
benefit for each year between the date th e benefit becomes effective and the date 
corresponding to the participant's normal retirement age, except that, if the contributory service of the participant was 30 years or longer, the benefit shall be reduced by 3% per year. 
 
(d) The benefit may be commuted at the request of the participant into a lump sum on the 
conditions specified in Article 23. 
 
Article 25 Deferred retirement benefit  
 
(a) A deferred retirement benefit shall be payable to a participant whose age on separation is 
less than the normal retirement age and whose contributory service was five years or longer. 
 WT/BFA/W/376 
- 17 - 
  (b) The benefit shall, subject to any reduction resulting from the application of paragraph (c) 
below, be payable at the standard annual rate for a retirement benefit and shall commence at the normal retirement age, or, if the participant so elects, at any age not less than 55, provided that in such event it shall be reduced in the same manner and under the same 
conditions as specified in Article 24. 
 (c) The benefit may be commuted at the request of the participant into a lump sum on the 
conditions specified in Article 23. 
 Article 26 Withdrawal settlement  
 
(a) A withdrawal settlement shall be payable to a participant whose age on separation is less 
than the normal retirement age, or if the participant is at the normal retirement age or more 
on separation but is not entitled to a retirement benefit. 
 (b) The settlement shall consist of 10% of FAR for each of the first 20 years of service. 
 
Article 27 Deferment of payment or  choice of benefit  
 
(a) The payment to a participant of a withdrawal settlement, or the exercise by a participant of 
a choice between one benefit and another, or between a form of benefit involving payment in a lump sum and another form, may be deferred at the request of the participant at the 
time of separation for a period of 12 months. 
 (b) A participant who has deferred a choice under paragraph (a) above shall, if the choice is not 
made within the specified period, be deemed to have chosen a deferred retirement benefit if 
the participant's age on separation was less than the normal retirement age, and in any event a form of benefit payable otherwise than in a lump sum. 
 
Article 28 
Disability benefits  
(a) A total disability benefit shall, subject to Article 34, be payable to a participant who is found 
by the Management Board to be fully incapacitated for further service reasonably compatible with the participant's abilities, due to injury or illness constituting an impairment to health 
which is likely to be permanent or of long duration. 
 (b) The total disability benefit shall commence on separation or, if earlier, on the expiration of 
the paid leave due to the participant and shall continue for as long as the participant 
remains fully incapacitated. The incapacity sh all be deemed to be permanent after the age 
when the beneficiary would have been entitled to early retirement as per the provisions of Article 24. 
 
(c) The total disability benefit shall, if the age of the participant on entitlement is the normal 
retirement age or more, be payable at the st andard annual rate for a retirement benefit. 
If the age of the participant is less than the normal retirement age, the benefit shall be 
payable at the rate of the retirement benefit which would have been payable had the participant remained in service until the normal retirement age and had the participant's FAR remained unchanged. 
 
(d) A partial disability benefit shall, subject to Article 34, be payable to a participant who is 
found by the Management Board to be partially incapacitated due to injury or illness 
constituting an impairment to health and who, as a consequence of that incapacity, 
is assigned to other duties at a reduced salary. 
(e) The partial disability benefit shall be payable at the rate of the retirement benefit which 
would be payable if the participant remained in service until the normal retirement age and 
if the participant's FAR were equal to the di fference between the participant's FAR before 
and after the assignment to duties at a reduced salary. 
 WT/BFA/W/376 
- 18 - 
  (f) A benefit which is discontinued shall, if a participant who has been separated does not upon 
such discontinuance again become a participant, be converted to a deferred retirement benefit if the participant would have been so eligible at the date of separation. Otherwise, a single payment shall be made of the balance between the value of the withdrawal 
settlement under Article 26 and the value of payments received under this Article. 
 (g) The Management Board shall prescribe the extent to which and the circumstances in which 
a disability benefit shall be reduced or when it shall be terminated as the beneficiary's 
degree of incapacity changes, when the benefici ary is in paid employment or in such other 
circumstances as the Management Board deems appropriate. 
 
Article 29 
Surviving spouse's benefit  
(a) A benefit shall be payable to the surviving spou se of a participant who died in service or who 
was entitled to a retirement, early retirement, deferred retirement or disability benefit at the date of death, if the spouse was married to the participant at the date of death in service or, 
if the staff member were separated prior to death, the spouse was married to the participant 
at the date of separation and remained married to the participant until death. 
 (b) The benefit shall, if the participant died in service or during entitlement to a retirement, 
early retirement or disability benefit, be paya ble at the standard annual rate of 60% of the 
retirement or disability benefit which would have been payable to the participant at the date of death, or of 60% of the retirement, early re tirement or disability benefit including such 
part thereof as may have been commuted, as the case may be. 
 (c) The benefit shall, if the participant died after the commencement of a deferred retirement 
benefit, be payable at the rate of 60% of the annual rate of such benefit and, if the 
participant died before its commencement, at th e rate of 60% of the actuarial equivalent at 
the date of death of the annual rate of the benefit at the normal retirement age. 
 
(d) The benefit shall be payable at periodic interv als for life or until remarriage, provided that 
a benefit payable at an annual rate of less than 2000 Swiss francs may be commuted by the surviving spouse into a lump sum which is the actuarial equivalent of the benefit at the 
standard annual rate under paragraph (c) above, as the case may be. 
 (e) The benefit shall, where there is more than one surviving spouse, be divided equally 
between the spouses, and upon the death or remarriage of each such spouse shall be 
equally divided among the remainder. 
 (f) A lump sum in the amount of twice the annual rate of the benefit shall, unless paragraph (e) 
applies, be payable to a surviving spouse upon remarriage. 
 Article 30 
Child's benefit  
 (a) A child's benefit shall, subject to paragraphs (b) and (c) below, be payable to each child of a 
participant who is entitled to a retirement, early retirement or disability benefit or who has 
died in service, while the child remains unmarried and under the age of 21. 
(b) A benefit shall be payable to a child who is over the age of 21 if the child is found by the 
Management Board to have been incapacitated by illness or injury for substantial gainful 
employment: 
(i) on reaching the age of 21, if immediately prior thereto a child's benefit was payable, 
or 
 
 (ii) at the time of death in service or entitlement to a benefit of the participant.  
 A benefit payable as above shall continue for as long as the child remains incapacitated. WT/BFA/W/376 
- 19 - 
  (c) A benefit shall, notwithstanding paragraphs (a) and (b) above, not become payable, if the 
participant has chosen an early retirement benefit, until the participant dies or reaches the normal retirement age, except to a child under the age of 21, found by the Management Board to be disabled. 
 
(d) The benefit shall, during the continuance of any periodic benefit resulting from retirement, 
early retirement, disability, or death in service,  but subject to paragraphs (e) and (f) below, 
be payable at the annual rate of one third of the benefit payable to the participant or, if the 
participant died in service, one third of the retirement or disability benefit which would have been payable to the participant if the participant had become entitled thereto at the date of death, subject to a minimum of the amount corresponding to one half of that specified in 
Annex 2(b)(i) of the Staff Rules  and a maximum of the amount corresponding to that 
specified in Annex 2(b)(i) of the Staff Rules , expressed in Swiss francs per annum. 
 
(e) If no other periodic benefit is payable and there is no surviving parent able, in the opinion of 
the Management Board, to support the child or if the other periodic benefit payable is to a surviving spouse who is not a natural or adoptive parent and does not have custody of the 
child, and subject to paragraph (f) below, the benefit shall be payable at the rate in 
paragraph (d) above, increased by: 
 
(i) 25% of the retirement, early retirement or disability benefit from which it is derived, 
if one child's benefit is payable, and 
 
(ii) 50% of the retirement, early retirement or disability benefit from which it is derived, 
and divided by the number of eligible children, if more than one such benefit 
is payable. 
 
(f) The total benefits payable under paragraphs (d) and (e) above, added to any retirement, 
early retirement, disability or surviving spouse's benefit shall not exceed the FAR of the participant at the time of separation from service. 
 
(g) Benefits payable under this Article shall be recalculated as may be required to achieve the 
purposes of paragraphs (e) and (f) above. 
 
(h) The benefit shall be reduced by the amount of  any benefit received fr om any public authority 
by the beneficiary in respect of the same child. In no case shall the sum of the two payments be less than the rate set out in Annex 2 of the Staff Rules. 
 
Article 31 Secondary dependant's benefit  
 
(a) A secondary dependant's benefit shall, subject to paragraph (b) below, be payable to the 
surviving secondary dependant of a participant who was entitled to a retirement, early retirement, deferred retirement or disability be nefit at the date of death, or who died in 
service. 
 (b) A benefit shall nevertheless not be payable: 
 
(i) where a benefit is or was payable to a child or to the surviving spouse of the 
participant; and 
 
(ii) in the case of a brother or sister, where the benefit payable to the participant was a 
deferred retirement benefit. 
 
(c) The benefit shall be payable at the following rates: 
 
(i) in the case of a mother or father, at the rates and under the conditions applicable in 
Article 29, save that the Management Board may, in the event of remarriage, decide 
in its discretion to continue the benefit; 
  (ii) in the case of a brother or sister, at the rate applicable in Article 30. WT/BFA/W/376 
- 20 - 
  (d) The benefit shall be payable to the person designated by the participant or, in the absence 
of such designation or person, to the person designated by the Management Board.  Article 32 
Cost-of-living adjustment of benefits 
 (a) The system of cost-of-living adjustment of benefits provided for in paragraphs (b) – (j), 
below, is intended to ensure the maintenance of purchasing power of periodic benefits, in 
the currency in which those benefits are paid . The system of adjustment shall apply to 
retirement, early retirement, de ferred retirement, disability, surviving spouse's, child's and 
secondary dependant's periodic benefits. It shal l not apply to withdrawal or other lump-sum 
payments. 
(b) In the case of benefits paid in Swiss francs,  the benefit shall be adjusted on 1 January of 
each year according to the annual movement of the Swiss consumer price index. 
(c) Where, in accordance with Article 14, the beneficiary selects a currency other than the Swiss 
franc, the benefit will continue to be adjust ed in the manner described in paragraph (b), 
above. 
(d) Alternatively, a beneficiary may opt to subm it proof of residence in a country other than 
Switzerland and request payment of the benefit in local currency in accordance with the procedure described below. 
(e) If satisfactory proof of residence is provided within six months from the date of initial 
entitlement, the local currency amount shall be computed from that date, with retroactive 
adjustment if it results in a greater benefit. Otherwise, the local currency amount shall be computed as of the first day of the quarter following acceptance of proof of residence. 
(f) Subject to paragraphs (d) an d (e), above, the local currency amount of the benefit shall be 
calculated by applying to the Swiss franc benefit the average, computed over the 36 consecutive calendar months up to and including the month of separation, of the exchange 
rates between the Swiss franc and the currency of the country of residence. 
(g) The local currency amount of the benefit calculated in accordance with paragraphs (d), (e) 
and (f), above, shall be adjusted for the first time on the 1 January following the date of the first payment, according to the annual movement of the official consumer price index for the 
country concerned. 
(h) For the adjustment of deferred retirement bene fits, the reference date for the application of 
paragraphs (b) and (g), above, shall be th e date of separation from service of the 
beneficiary and the scope of adjustment under paragraphs (b) and (g) shall be made as 
follows: 
 For the period from the date of separation to the date of commencement of payment of 
the benefit: 
o For participants whose contributory service began prior to 1 January 2016, the full 
deferred retirement benefit entitlement sha ll be adjusted in accordance with the 
provisions of paragraphs (b) and (g). 
o For participants whose contributory service began on or after 1 January 2016, 1/3 of 
the deferred retirement benefit entitlement sh all be adjusted in accordance with the 
provisions of paragraphs (b) and (g). 
 For the period beginning on the date on which payment of the benefit commences, the 
full deferred retirement benefit shall be adju sted in accordance with the provisions of 
paragraphs (b) and (g). 
(i) Where the cost of living in the country of re sidence is more than 10% higher or lower than 
in Switzerland, an initial cost-of-living differential factor shall be applied to the local currency amount of the benefit calculated in accordan ce with paragraphs (d), (e) and (f) above. 
(j) In exceptional cases, such as hardship, an d with the prior approval of the Management 
Board, a beneficiary in receipt of a benefit calculated in local currency in accordance with 
paragraphs (d)-(i) above, may revert to payment of the benefit in accordance with paragraphs (b) and (c), above. WT/BFA/W/376 
- 21 - 
  Article 33 
Residual settlement  (a) A residual settlement shall be payable if, upon  the death of a participant and the exhaustion, 
as the case may be, of any entitlements due under these Regulations  to the survivors, 
the total amount of the benefits paid to, and on the account of, the participant is less than the participant's own contributions. 
 
(b) The settlement shall be payable to a beneficiary designated by the participant and alive 
when the payment is due; failing such beneficiary, the settlement shall be paid to the estate of the participant. 
 
(c) The settlement shall consist of the participant's own contributions at the date of separation 
or death in service, reduced by the total amount  of the benefits paid to, and on the account 
of, the participant. 
 Article 34 
Limitation of entitlements during special leave without pay  
 (a) Entitlement to a disability benefit, or to a bene fit payable in case of death, during a period of 
special leave without pay granted for the performance of military service, shall instead be to 
a withdrawal settlement calculated as of the day immediately preceding the commencement 
of such leave, in accordance with Article 26. 
 
(b) In the event that a participant becomes entitl ed to a retirement, earl y retirement or deferred 
retirement benefit on separation during a peri od of special leave without pay, a widow's, 
widower's, child's or secondary dependant's benefit shall not be payable unless entitlement 
thereto would have existed had the participan t died on the day immediately preceding the 
commencement of such leave. 
 Article 35 
Effect of re-entry into participation  
 (a) If a former participant who is entitled to a retirement, early retirement or deferred 
retirement benefit under these Regulations again becomes a participant, entitlement to such 
benefit or to a benefit derived therefrom shall be suspended and no payment shall be made until such participant dies or is again separated. 
 
(b) Such a participant who is again separated after at least five years of additional contributory 
service shall also be entitled, at the time of such subsequent separation, in respect of such service and subject to paragraph (d) below, to a retirement, early retirement or deferred 
retirement benefit, or a withdrawal settlement as the case may be. 
 (c) Such a participant, who is again separated after less than five years of additional 
contributory service, shall, in respect of such service, become entitled to: 
  (i) a withdrawal settlement under Article 26; or 
 
(ii) subject to paragraph (d) below, a retire ment, early retirement or deferred retirement 
benefit, as the case may be, based on the length of such additional contributory service; provided, however, that such bene fit may not be commuted into a lump sum, 
in whole or in part, and shall not be subject to any minimum provisions. 
 
(d) Payment of benefits under paragraph (b) or (c)(ii) above shall commence on the date of the 
resumption or commencement, as the case may be, of payment of benefits suspended under 
paragraph (a) above. In no event shall the total benefits payable to or on account of a former participant in respect of separate periods of contributory service exceed the 
benefits which would have been payable had participation in the Plan been continuous. 
 WT/BFA/W/376 
- 22 - 
  SECTION 6 
GENERAL PROVISIONS 
 Article 36 
Medical examination 
  Every participant in the Plan shall be required to undergo a medical examination in 
accordance with the standards prescribed by the Management Board, unless the Management 
Board accepts the findings of an earlier medical examination.  Article 37 
Information from particip ants and beneficiaries  
 (a) A participant or beneficiary may be required to supply information, and to furnish 
documentary or other proof thereof, in respect of any matter on which information or proof 
is required by the Management Board for the purposes of these Regulations . 
(b) Failure to supply such information or proof, or the omission or misrepresentation of any 
material fact therein, shall enable the Management Board to redetermine the entitlements of 
the participant or beneficiary under these Regulations , provided that entitlement to 
participation or to a benefit shall not be less favourable than if the information or proof had been supplied or truly represented. 
 
Article 38 Recovery of indebtedness to the Plan  
 
 The Management Board may deduct from any benefit payable under these Regulations  to 
a participant, or on the participant's account, the amount of any indebtedness to the Plan by the 
participant or by any beneficiary or third person  to whom payment has been made otherwise than 
in accordance with these Regulations . 
 Article 39 
Interest on unpaid benefits  
  The Plan shall not be liable for interest on any due but unpaid benefits, except where it is 
ascertained that the non-payment is attributable to a failure by the Plan to meet its obligations 
with respect to participants or beneficiaries.  
Article 40 
Non-assignment of rights  
  Participants or beneficiaries may not assign their rights under these Regulations . 
 
Article 41 Forfeiture of benefits  
 
(a) The right to a withdrawal settlement or residual settlement shall be forfeit if for two years 
after payment has been due the beneficiary has failed to submit payment instructions or has 
failed or refused to accept payment. 
(b) The right to a retirement, early retirement, de ferred retirement or disability benefit shall be 
forfeit if for five years after the first payment has been due the beneficiary has failed to 
submit payment instructions or has failed or refused to accept payment. 
(c) The right to continued periodic payments of a retirement, early retirement, deferred 
retirement or disability benefit shall be forfei t if for two years after a periodic payment has 
been due the beneficiary has failed to submit payment instructions or has failed or refused 
to accept payment. 
(d) The right to a benefit shall nevertheless not be  forfeit under paragraphs (a), (b) or (c) above 
if its exercise has been prevented by circumst ances beyond the control of the beneficiary. 
(e) The Management Board may, if in its opinion there are circumstances which so warrant, 
restore the right to any benefit which has been forfeited. WT/BFA/W/376 
- 23 - 
   
Article 42 Jurisdiction of the ILO Administrative Tribunal  
 
(a) Applications alleging non-observance of these Regulations  arising out of decisions of the 
Management Board may be submitted directly to the ILO Administrative Tribunal by: 
 
(i) any member of the staff who is eligible under Article 15 of these Regulations  as 
a participant in the Plan, even after employment has ceased, and any person who has succeeded to the rights upon the death of such member of the staff; 
 
(ii) any other persons who can show that they are entitled to rights under these 
Regulations by virtue of the participation in the Plan of a member of the staff. 
 
(b) In the event of a dispute as to whether the Tribunal has competence, the matter shall be 
settled by a decision of the Tribunal. 
 
(c) The decision of the Tribunal shall be final and without appeal. 
 (d) The time-limits prescribed in Article 7 of th e Statute of the Tribunal are reckoned from the 
date of the communication of the contested decision of the Management Board. 
 
SECTION 7 
AMENDMENT AND ENTRY INTO FORCE 
 
Article 43 Amendment 
 
(a) The Management Board may recommend amendments to these Regulations  to the 
General Council, which may amend these Regulations  after consultation with the 
Management Board. 
 
(b) The Regulations  so amended shall enter into force as from the date specified by the 
General Council but without prejudice to rights to benefits acquired through contributory 
service prior to that date. The amended Regulations  shall apply to all rights acquired after 
the date of the amendment, including those of serving staff. 
 
Article 44 
Entry into force  
  These Regulations  shall enter into force with effect from 1 January 1999. 
 
SECTION 8 
TRANSITIONAL PROVISIONS 
 
Article 45 Transitional provisions  
 
(a) Members of the staff transferring from the United Nations Joint Staff Pension Fund (UNJSPF) 
to the Plan on 1 January 1999 shall not be re quired to undergo the medical examination 
provided for under Article 36. 
 
(b) Members of the staff transferring from the UNJSPF to the Plan on 1 January 1999 shall be 
credited with the equivalent actuarial value, ca lculated in accordance with these Regulations, 
of the Swiss franc retirement benefit which th ey had accrued in the UNJSPF based on their 
contributory service and FAR up to 31 Dece mber 1998. For that purpose, their prior 
contributory service shall be adjusted on the date of transfer to yield the same value of 
accrued benefit under these Regulations as they had accrued in the UNJSPF. The same 
procedure shall apply in respect of the validation under Article 17 of these Regulations of service prior to 1 January 1999. 
 WT/BFA/W/376 
- 24 - 
  (c) Where the scale of pensionable remuneration of members of the staff transferring from the 
UNJSPF to the Plan on 1 January 1999 would be  lower as a result of the application of 
Article 19 of these Regulations than under arti cle 54 of the UNJSPF Regulations, the latter 
scale shall continue to apply to those staff members until it is overtaken by the scale 
provided for under Article 19 of these Regulations. 
 (d) Where the early retirement reduction factors a pplicable to members of the staff transferring 
from the UNJSPF to the Plan on 1 January 1999 would be higher as a result of the 
application of Article 24 of these Regulati ons than under article 29 of the UNJSPF 
Regulations, the provisions of the latter articl e shall continue to apply to those members of 
the staff. WT/BFA/W/376 
- 25 - 
  ANNEX 1 – TABLE 1 
 
ANNUAL NET SALARY AND PENSIONABLE REMUNERATION SCALE 
EFFECTIVE 1 JANUARY 2010 
(IN SWISS FRANCS) 
Grade  Range Increment Minimum Maximum 
1 Net Salary 
Pensionable Remuneration 52,950 
59,562 72,159 
85,476 2,171 
2 Net Salary 
Pensionable Remuneration 57,707 
65,808 78,661 
94,715 2,308 
3 Net Salary 
Pensionable Remuneration 62,885 
72,548 85,709 
104,869 2,453 
4 Net Salary 
Pensionable Remuneration 68,599 
80,289 93,497 
116,362 2,607 
5 Net Salary 
Pensionable Remuneration 75,068 
89,677 102,300 
129,575 2,778 
6 Net Salary 
Pensionable Remuneration 82,208 
99,924 112,046 
144,426 2,959 
7 Net Salary 
Pensionable Remuneration 94,423 
117,749 128,692 
170,747 3,305 
8 Net Salary 
Pensionable Remuneration 118,602 
154,611 158,265 
220,118 3,558 
9 Net Salary 
Pensionable Remuneration 140,902 
190,511 182,587 
262,300 3,663 
10 Net Salary 
Pensionable Remuneration 167,686 
236,211 203,596 
299,274 3,857 
11 Net Salary 
Pensionable Remuneration 197,134 
287,997 224,595 
336,472 2,168 
12 Net Salary 
Pensionable Remuneration 215,004 
319,661 234,060 
353,352 2,365 
ADG Net Salary 
Pensionable Remuneration 246,668 
375,617   
DDG Net Salary 
Pensionable Remuneration 267,237 
412,658   
 WT/BFA/W/376 
- 26 - 
  ANNEX 1 – TABLE 2 
PENSIONABLE REMUNERATION SCALE APPLICABLE TO STAFF MEMBERS IN GRADES 1-7 
RECRUITED BEFORE 1 SEPTEMBER 1995 
(IN SWISS FRANCS) 
Grade Range 
Minimum Maximum 
1 63,791 88,030 
2 69,777 96,292 
3 76,292 105,452 
4 83,525 116,362 
5 91,740 129,575 
6 100,861 144,426 
7 117,749 170,747 
 WT/BFA/W/376 
- 27 - 
  ANNEX 1 – TABLE 3 
UNIFIED WTO SALARY SCALE FOR SHORT-TERM APPOINTMENTS. 
EFFECTIVE 1 JANUARY 2010 
(IN SWISS FRANCS) 
GRADE MONTHLY 
PENSION 
CONTRIBUTION DAILY 
RATES MONTHLY  
RATES VAN BREDA 
HEALTH INSURANCE 
PLAN TRAVEL TIME 
STAFF MEMBER   
FULL-TIME  HALF-TIME  DAILY MONTHLY  
        
1 372.25 163.95 4,412.50 1.50 2.50 122.50 100.55 
        
2 411.30 178.65 4,808.90 1.50 2.50 129.85 107.15 
        
3 453.40 194.70 5,240.40 1.50 2.50 137.85 114.35 
        
4 501.80 212.40 5,716.60 1.50 2.50 146.70 122.30 
        
5 560.50 232.40 6,255.65 1.80 2.60 156.70 131.25 
        
61 624.55 254.50 6,850.65 1.80 2.60 167.75 141.20 
        
7 735.95 292.35 7,868.60 1.80 2.60 186.70 158.15 
        
8 966.30 367.20 9,883.50 2.20 2.80 224.10 191.75 
        
9 1,190.70 436.25 11,741.85  2.20 2.80 258.65 222.70 
        
10 1,476.30 519.15 13,973.85  2.50 3.00 300.10 259.90 
        
11 1,800.00 610.30 16,427.85  2.80 3.15 345.65 300.80 
        
12 1,997.90 665.65 17,917.00  2.80 3.15 373.35 325.60 
 For non-local short-term appointments, a supplement of CHF 81.00 per day (for daily contracts) 
and CHF 1,620.00 per month (for monthly contracts) is payable. 
 
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1 For professional-level staff in grade 6 on shor t-term appointments, the salary level and, as a 
consequence, the monthly pension contribution ma y differ from the level indicated, in order to 
ensure competitiveness.