SWITZERLAND - The Swiss multi-employer fund Alcan will be levying additional contributions next year, under a new head who has yet to be named.
Christoph Ryter, currently head of the CHF1.8bn (€1.2bn) fund and head of the Swiss pension fund association ASIP, is leaving Alcan and has been named as head of the retail chain Migros' Pensionskasse (MPK).
He will succeed Thomas Hohl, who had headed MPK for 10 years, so will be leaving Alcan as of 1 January, 2010.
Meanwhile, a spokesman for Alcan said the fund is still "in the evaluation phase" regarding Ryter's successor and a replacement has yet to be named.
Alcan, which had seen its funding level drop to 85.5% after a -19.43% performance in 2008, will be levying additional contributions of 2% next year,m shared between employers and employees.
There will be indexation next year but it will be cut from 3.5% to 1% as the funding level is estimated to have climbed back up to 93% by the end of September 2009.
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