Swiss postal workers get own foundation
Switzerland’s Conseil Fédérale has given the final green light to the transfer of some 70,000 postal workers from the traditional federal pension plan into a SFr10bn (e6.5bn) pension foundation for the post office. Says Luigi Fantino, an adviser at the foundation: “We have now been given the permission to start in January 2002.”
The 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 in 2001, the foundation elected Jurg Puchar as president of the foundation board. The foundation was created at the end of February after 96% of the workforce voted for an autonomous scheme outside the traditional federal scheme. The transfer of assets will take place this 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.