SFr10bn Swiss Post fund gets go ahead
SWITZERLAND – The country’s Conseil Fédérale today gave the final green light to the transfer of some 70,000 postal workers from the traditional federal pension plan into an SFr10bn (e6.5bn) pension foundation for the Swiss post office.
Luigi Fantino, an adviser at the foundation, comments: “We have now been given the permission to start in January 2002”
The new foundation will receive some 37,000 active employees and 19,000 retirees from the federal pension plan (CFP), as well as
11,000 active workers and 3,100 retired from the former Swiss telecom fund (PTT).
Earlier this year, the foundation elected Jurg Puchar as president of the foundation board.
The foundation was created at the end of February this year after 96% of the workforce voted for an autonomous scheme outside the traditional federal scheme.
The transfer of assets will take place in the new-year.
The foundation has been in the process of creating the company that will handle the fund’s investments and carrying out a study of the fund’s liabilities.