Funding contributions: a choice of three models
Separate contributions are paid for the retirement and capital plans and for risk insurance. In the retirement plan, insured members can choose the level of contributions from three scales.
The benefits of the Syngenta Pension Fund are funded through the contributions of its insured members and the company. The company covers around two-thirds of the total funding.
In the retirement plan, insured members can choose the level of their own contributions from three scales. The retirement benefit can thus be adjusted to the individual needs of insured members.
Insured members can choose between the following three contribution scales up to 1 July of the given year: normal, superior (+1.5%) or excellent (+3%). If no written notification to this effect is received, the normal scale applies.
The contributions are calculated in percent of the insured remuneration and deducted from the monthly salary.
The total contributions (incl. risk contributions) of the insured members with retirement and capital plans amount to between 6.5 and 12.5 percent, depending on age and chosen contribution scale, while the contributions of the company are between 11 and 19 percent.
How is the insured remuneration calculated?
The insured remuneration is calculated as follows:
Annual base salary (maximum CHF 220 000)
- minus coordination sum
+ plus target incentive
+ plus shift allowance
How is the coordination sum calculated?
The coordination sum corresponds to 30 percent of the base salary. It has an upper limit defined by the maximum state pension (as of 2016: CHF 28 200).
How are the contributions used?
The contributions that the company and the insured members pay into the retirement plan are credited to the individual retirement accounts of each insured member. The contributions that the company and the insured members pay into the capital plan are credited to the individual capital accounts of each insured member. The benefits in the event of death and disability are collectively financed by the contributions for risk.
When is it possible to choose the contribution scale?
You can choose the contribution scale when you join the Pension Fund. It is possible to change to a different scale contribution on 1 July of any given year.