Novartis Pension Fund 2 - Versicherungsberatung Novartis .Pension Fund 2 Novartis Pension Fund 2

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Transcript of Novartis Pension Fund 2 - Versicherungsberatung Novartis .Pension Fund 2 Novartis Pension Fund 2

Novartis Pension Fund 2Regulations

2018

Novartis Pension Funds

Novartis Pension Fund 2Regulations

Editor: Novartis Pension Funds

effective 1 July 2018

REGULATIONS OF NOVARTIS PENSION FUND 2 | 3

Summary of Benefits and Funding

Insured remuneration Article 4

Funding Contributions Article 7 Joining fee, voluntary extra contributions Article 8

Retirement benefits Retirement lump sum Article 10

Benefits in the event of disability Disability lump sum Article 11

Benefits on death Lump sum on death Article 12

Benefits on leaving Article 16

4 | REGULATIONS OF NOVARTIS PENSION FUND 2

Abbreviations and Terms

Pension Fund 2 Novartis Pension Fund 2

Pension Fund Novartis Pension Fund 1

Company Novartis AG or, depending on the context, the affiliated companies as listed in Appen-dix 2, which have joined the Pension Fund

Employees Persons who have a contract of employment with the Company

Insured person Employee admitted to Pension Fund 2

Retirement age Age on the first day of the month after reaching the age of 65 years

Registered Registered partnership of same-sex couples within the meaning of the Partnershippartnership Act (PartG)

AHV Federal old-age and survivors insurance

IV Federal disability insurance

BVG Federal law on occupational pension schemes for retirement, survivors and disability

FZG Federal law on the portability of vested benefits in occupational pension schemes

Retirement account Individual account in the retirement plan

Retirement assets Corresponds to the balance on the retirement account

In these Regulations any use of the masculine gender is taken to refer to both genders.

The provisions for spouses also apply by analogy to persons in registered partnerships as defined in the Partner-ship Act (PartG). This relates in particular also to the provisions on the spouses pension, remarriage as a reason for forfeiture, the lump sum on death, and also to the requirements for consent in the event of cash disbursement and lump-sum payment, early withdrawal and mortgage for home ownership purposes.

REGULATIONS OF NOVARTIS PENSION FUND 2 | 5

Contents

I. General provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Art. 1 Purpose; structure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Art. 2 Admission to Pension Fund 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Art. 3 External insured persons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Art. 4 Insured remuneration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Art. 5 Retirement credits and retirement assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Art. 6 Choice of investment strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

II. Funding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Art. 7 Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Art. 8 Joining fee, voluntary extra contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

III. Insured benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Art. 9 Insured benefits, notification of insured persons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Art. 10 Retirement lump sum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Art. 11 Disability lump sum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Art. 12 Lump sum on death . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Art. 13 Use of any free funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Art. 14 Provisions on payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

IV. Leaving the Pension Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Art. 15 Due date, additional cover, reimbursement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Art. 16 Level of vested benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Art. 17 Use of vested benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Art. 18 Leave . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

V. Special provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Art. 19 Taking into account of third-party benefits, reduction of benefits, provisional benefits . 17 Art. 20 Security of benefits; charging of claims . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Art. 21 Obligation to inform and notify . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Art. 22 Home ownership: early withdrawal, pledges, obligation to inform . . . . . . . . . . . . . . . . . . . . . 18 Art. 23 Divorce . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Art. 24 Financial equilibrium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

VI. Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Art. 25 Board of Trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Art. 26 Duties of the Board of Trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Art. 27 Auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Art. 28 Accounting; investment assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

VII. Final stipulations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Art. 29 Implementation and amendment of the Regulations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Art. 30 Benefits in cases of hardship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Art. 31 Partial liquidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Art. 32 Disputes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Art. 33 Entry into force; transitional provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

6 | REGULATIONS OF NOVARTIS PENSION FUND 2

Appendix 1: Important figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 1 Retirement credits (Article 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 2 Level of contributions (Article 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 3 Voluntary extra contributions (Article 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Appendix 2: Companies affiliated to the Pension Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

Appendix 3: Election of the Board of Trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 1 Electoral office . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 2 Entitlement to vote, eligibility to stand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 3 Entitlement to nominate . . . . . .