Pension Fund - Adjustment of pensions for 2005

In this document the Director-General invites the Finance Committee, on the basis of the opinion of the Governing Board of the Pension Fund and after discussion in the Standing Concertation Committee, to recommend the Council a 0% indexation of pensions, fixed benefits and allowances for 2005, on the understanding that this may be reviewed in 2005, in the light of the considerations set out in this document.