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Art. 11 Financing of the retirement pension shortfall due to early retirement

1 In the case of early retirement, retirement benefits are reduced (Annex 3). This shortfall can be financed fully or in part up to retirement. The reduction is equal to the difference between the retirement benefits cal­cu­lated at the reference age and those insured at the time of retirement.
2 The financing for the shortfall in the retirement benefits is cal­cu­lated according to Annex 5.
3 If retirement does not take place by the date on which the pension reduction was paid out, the resulting retirement pension may not exceed 105% of the retirement pension cal­cu­lated at the reference age. If this threshold is exceeded, the insured member and employer no longer make savings con­tri­bu­tions.

The conversion rate applicable at the reference age shall be applied to retirement benefits payable later. Interest shall no longer be earned on any of the insured member’s accounts. If these mea­sures are not sufficient, allocation to non-committed assets of the Pension Fund will take place.