Partial liquidation regulations

The Office for Occupational Pensions and Foundations of the Canton of Zurich (BVS) issued a decree dated 12 January 2010 approving the partial liquidation regulations of the Profond Pension Fund.

The partial liquidation regulations thus come into force with retroactive effect from 1 January 2005. They define and describe the preconditions and procedure for the partial liquidation of pension schemes affiliated with the Profond Pension Fund, as well as for the Foundation itself.

The partial liquidation regulations follow the principle that any changes in value of the Foundation's assets that have been accumulated must be passed on in full to the group of insured persons leaving the pension fund.

The partial liquidation regulations govern claims of the group of insured persons leaving the pension fund to uncommitted funds, technical reserves and fluctuation investment reserves as well as the offsetting of any shortfalls sustained by the Foundation.

Preconditions for a partial liquidation may be a substantial reduction in the number of staff, the restructuring of a company, or the partial or full termination of the affiliation contract.

For detailed information please download the following documents: