Mr. Chairman,

1. I have the honour to speak on behalf of the Group of 77 and China on agenda item 134: Programme Budget for the biennium 2014 - 2015, in particular proposed terms of reference for the representative of the Secretary-General for the investment of the assets of the United Nations Joint Staff Pension Fund.

2. The Group of 77 and China would like to thank Ms. Catherine Pollard, Assistant Secretary-General for Human Resources Management, for introducing the report of the Secretary-General on this agenda item contained in document A/68/753. We would also like to thank Mr. Pavel Chernikov, Vice-Chairperson of the ACABQ for introducing the related report contained in document A/68/805.

Mr. Chairman,

3. The Group of 77 and China would like to reaffirm that, in accordance with article 19 of the regulations of the Fund, the Secretary-General serves as fiduciary for the investment of the assets of the Fund and has fiduciary responsibility for deciding upon the investment of the assets of the Fund;

4. The Group of 77 and China recalls that by section VII of its resolution 68/247 the General Assembly requested the Secretary-General, to prepare, in consultation with the Pension Board, detailed terms of reference for the post of his representative to the Investment outlining, inter alia, key responsibilities, qualifications, appointment criteria, terms and duration of service, level and reporting lines, to be reviewed by the ACABQ. The Group also recalls that by the same resolution the Assembly decides to maintain the current structure of the Fund;

5. The Group has taken note of the information provided by the Secretary General as well as related comments, observations and recommendations of the Advisory Committee. The Group of 77 and China will carefully examine the elements presented in particular those related to qualification, experience, structure and reporting lines. The Group will also carefully examine how the Secretary-General's proposal complies with existing relevant provisions governing recruitment in the United Nations, structure of the Pension Fund including Regulations, Rules of the United Nations Joint Staff Pension Fund. The Group will also be interested to learn the placement of the representative in the current structure of the United Nations Secretariat.

Mr. Chairman,

6. The Group would like to reaffirms the mandate of the United Nations Joint Staff Pension Board as a subsidiary organ of the General Assembly. The Group would also like to reaffirm the mandate of the Fifth Committee as the main Committee of the General Assembly with responsibilities for administration and budgetary matters. In this regard the Group would like to emphasize that, any changes or discontinuation of the given mandate remains the sole prerogative of the General Assembly.

Mr. Chairman,

7. In conclusion, the Group of 77 and China would like to assure you of our readiness to engage in constructive deliberations including presenting specific proposals on this agenda item with the aim of reaching positive outcome in a timely manner.

I thank you. Mr. Chairman.