Management and administration of the OSCE Provident Fund

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Summary of Requirements

In accordance with OSCE’s Staff Regulations and Staff Rules, OSCE’s international and local contracted staff participate in the OSCE Provident (Pension) Fund. The purpose of the Provident Fund is to provide each participating OSCE staff member with a benefit upon separation from the OSCE or, in the event of death, to provide their designated beneficiaries with the benefit. The benefit is paid as a lump sum.

The administration of this Provident Fund is vested in a Fund manager external to the OSCE. Under the arrangements currently in place, participants are offered a choice of two products: A guaranteed capital with paid interest or a low to medium risk fund. Contributions may be paid in either EUR or US dollar. The OSCE is now looking to enter into a new long term contract for the administration of its Provident fund and to explore other options for investment of its assets. The single counterpart in such contract on the OSCE side will be the OSCE Secretariat in Vienna. No other OSCE legal entity will be involved as a party to the contract. The employee contributions are pooled together at the OSCE Secretariat level and sent from there to the Provident Fund Manager.

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