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Art. 9 Retirement savings

1 A separate retirement account is held for each insured member.

The following are credited to the retirement account:

  • the Standard retirement credits;
  • vested early leaver benefits transferred from previous pension schemes;
  • ad­di­tional con­tri­bu­tions used for buying in pursuant to Art. 8 Para. 2;
  • repayment of an early withdrawal for home ownership purposes and repurchase payments under divorce law (Art. 24 Para. 3 and Art. 27 Paras. 2 and 3);
  • interest.
2 Two ad­di­tional accounts are maintained separately for each insured member:

The following elements are credited to the supplementary account:

  • retirement credits in excess of Standard pursuant to Art. 7 Para. 4;
  • repayment of early withdrawals for home ownership purposes and repurchase payments under divorce law (Art. 24 Para. 3 and Art. 27 Paras. 2 and 3);
  • interest.

The following elements are credited to the pre-financing account:

  • the personal repurchase of the shortfall in the early retirement pension pursuant to Art. 11;
  • interest.
3 The Board of Trustees sets the interest rate each year, in consideration of the financial situation of the Pension Fund and can stipulate different interest rates. The Board of Trustees sets an interest rate in advance for payments made during the year, while the interest rate for other insured members is determined retrospectively.

The interest calculation is based on the balance of the retirement account, respectively of the separate accounts at the end of the previous year or from the time of buying into the fund and is credited to the retirement account or the separate accounts at the end of the calendar year.

If an insured event occurs or the insured member leaves the Pension Fund during the course of the year, the interest is cal­cu­lated on a pro rata temporis basis for payments made during the year in question.