The purpose of the Novartis Pension Fund is to provide employees of the founding company and also the survivors of these insured employees upon their death with a reasonable, secure, needs-based pension that is as flexible as possible both in retirement and in the event of disability. The investment assets are very much geared to providing a sustainable safeguard for benefits in order to ensure that the purpose of the pension fund can be met at all times. The consultations and support provided to employees of the founding company are always accommodating, professional and of the utmost competence and extend to all matters concerning occupational benefits and insurance.
The Novartis Pension Fund offers appropriate and needs-based benefits, i.e.:
- The pension plans provide for secure retirement, disability and survivors’ benefits that also take into account variable components of pay,
- flexible work reduction,
- flexible retirement from age 60 years with possibilities for voluntary advance funding of early retirement, and also
- options for individual arrangements and choices that offer the maximum of what is permitted.
The management bodies of the Novartis Pension Fund work with professionalism, foresight and a sense of responsibility and sustainability, i.e.:
- We organize regular and targeted training and continuing education for members of the Board of Trustees and their substitutes and encourage participation in selected external training and information events.
- We invest in the continuing education of our employees by means of internal training and encourage participation in external courses and training programs.
- We maintain a management system that meets current standards of quality, data protection and corporate governance.
The investment strategy is sustainable and focused on security, i.e.:
- the investment strategy takes into account the concrete structure and the ability of the Pension Fund to manage risk, based on an asset liability study which has to be updated at least every 3 years;
- the investments are selected according to clear criteria and are broadly diversified.
The consultation and support provided to employees of the founding company are comprehensive and professional, i.e.:
- We advise on all matters of occupational benefit schemes and social insurance.
- We advise on all insurance matters. We select external partners who are likewise available for consultations according to strict criteria and standards, especially as regards the independence and quality of the consultation.
- We are accommodating and offer advice without bias and with the utmost level of competence.
- We regularly inform employees, Human Resources and other interested Novartis Business Units about our services and communicate the specialist knowledge that is needed.
We have an open and transparent information policy, i.e.:
- We provide regular information about the status of the Pension Fund.
- We organize numerous information events for employees of the founding company and are present at these events with our own range of information material.
- We are accessible; all queries are answered promptly and by qualified personnel on the basis of defined high standards.
- We hold regular surveys to determine the level of satisfaction with the quality of our service.
The Novartis Pension Fund operates with efficiency and at low cost; i.e.:
- We have a lean organization with short decision pathways.
- We work with selected partners in those areas where we do not have the relevant core competencies ourselves.