The United Nations Joint Staff Pension Fund was established in 1948, by a resolution of the General Assembly, to provide retirement, death, disability and related benefits for staff upon cessation of their services with the United Nations, under Regulations that, since then, have been amended at various times.

As an independent inter-agency entity, the Fund operates under its own Regulations as approved by the General Assembly and, in accordance with its governance structure, is administered by the United Nations Joint Staff Pension Board, which currently consists of 33 members, representing the 23 member organizations that are listed below:

- United Nations
- European and Mediterranean Plant Protection Organization
- Food and Agriculture Organization of the United Nations
- International Atomic Energy Agency
- International Centre for Genetic Engineering and Biotechnology
- International Centre for the Study of the Preservation and the Restoration of Cultural Property
- International Civil Aviation Organization
- International Criminal Court
- International Fund for Agricultural Development
- International Labour Organization
- International Maritime Organization
- International Organization for Migration
- Inter-Parliamentary Union
- International Seabed Authority
- International Telecommunication Union
- International Tribunal for the Law of the Sea
- Special Tribunal for Lebanon
- United Nations Educational, Scientific and Cultural Organization
- United Nations Industrial Development Organization
- World Health Organization
- World Intellectual Property Organization
- World Meteorological Organization
- World Tourism Organization

One third of the Board members are chosen by the General Assembly and the corresponding governing bodies of the other member organizations, one third by the executive heads of those organizations and one third by the participants in the United Nations Joint Staff Pension Fund. The Board reports to the General Assembly on the operations of the Fund and on the investment of its assets. When necessary, it recommends amendments to the Regulations and to the Fund’s Pension Adjustment System, which govern, inter alia, the rates of contribution by the participants (currently 7.9 per cent of their pensionable remuneration) and by the organizations (currently 15.8 per cent), eligibility for participation and the benefits to which participants and their dependants may become entitled.

In addition to the Board, the following Committees assist in the governance of the Fund.