The Board of Trustees has decided that retirement assets will be remunerated for 2015 with the minimum interest rate of 1.75 % set by the Swiss Federal Council. For 2016, the Federal Council has reduced the LPP (Law on occupational pension schemes) minimum interest rate to 1.25%. The Board of Trustees will meet in December 2016 to decide on the final return on retirement assets for the current year. Retirement assets held by members who leave the scheme during 2016 will attract the minimum interest rate up to their time of leaving.
The record-low interest rates, uncertainties in the financial markets and the increasing life expectancy of the population have a great influence on the long-term financing of pensions. The environment has changed significantly in recent years, to the detriment of pension funds. It is up to us to react to these changes. The Board of Trustees will carry on an intensive debate during the year on these issues and will take appropriate measures. We will keep you updated on the decisions taken.