1 Compensation for the shortfall in the retirement pension (Annex 3)

To cushion the effect of the reduction in the conversion rate, an individual extra contribution will be cal­cu­lated by the oc­cu­pa­tional pensions expert for those individuals insured with the Pension Fund on 31 December 2022 (including disabled persons and voluntarily insured persons pursuant to Art. 5 and 5a.). This means that the retirement pensions of these individuals at the age of 65 will be funded on the basis of the standard plan, except for a maximum reduction of 2%. The data on the insured as of 31 December 2022 applies. Buy-ins and employer con­tri­bu­tions made since 1 January 2021 are deducted from the retirement savings relevant for the purposes of the projection. For insured members who join the company from 1 January 2022 onwards, vested termination benefits from previous Pension Funds are also deducted.

The insured’s retirement account will be credited with 1/17 of the individually cal­cu­lated extra contribution every month from 1 January 2023 onwards. This credit is part of the vested termination benefit. If the insured leaves the company voluntarily before 31 May 2024, he is not entitled to the extra contribution that has not yet been credited at the time he leaves. This does not include cases in which an insured event occurs (old age, death, disability) or where the em­ploy­ment relationship is terminated following the expiry of a social plan term or of a management newplacement scheme; in such cases, the entire individually cal­cu­lated extra contribution is included when the benefits are cal­cu­lated. This provision applies by analogously to individuals in partial retirement and individuals entitled to a partial disability pension.

If the retirement pension pursuant to the Pension Fund Regulation valid from 1 January 2023 plus the credited extra con­tri­bu­tions exceeds the retirement pension according to the provisions of the Regulations valid from 1 January 2021, the maximum retirement pension that will be paid is pursuant to Pension Fund Regulation valid from 1 January 2021. For the calculation of survivors’ and disability pension, the full extra con­tri­bu­tions continue to be taken into account.