Admission
Associates with a Swiss employment contract must be insured with the Novartis Pension Funds subject to the following conditions:
- indefinite period of contract or
- a fixed-term contract of more than three months and
- an annual base salary of at least CHF 22'050
From the age of 17 years, you are insured against the financial consequences of disability or death. From the age of 25, insurance cover begins for retirement benefits and the establishment of the necessary pension capital.
In the month when you join the company, you will receive a letter with a pension statement that will show your insured benefits. Any vested benefits from previous pension schemes will be confirmed separately after receipt.
Novartis Pension Fund 1
Novartis Pension Fund 1 insures your entire income up to a value of CHF 150,000 per annum. The savings process for retirement benefits here is built up as a defined contributions plan. The level of contributions depends on your age. The standard contributions of employer and insured member are financed in the ratio 2:1. However, the insured member has the option of raising or lowering the employee’s contribution by 2% at any time.
From the age of 40, a savings plan will also be established from which a temporary bridging pension will be paid until the statutory (AHV) age of retirement in the event of early retirement or from which the assets can be withdrawn in the form of a lump sum.
Benefits are paid out in the form of pensions and/or a lump sum.
Novartis Pension Fund 2
Novartis Pension Fund 2 insures components of pay above CHF 150,000 per annum. The savings process for retirement benefits here is built up as a defined contributions plan. For the investment of individual assets you have six investment strategies to choose from.
The level of contributions depends on your age. The standard contributions of employer and insured member are financed in the ratio 2:1. However, the insured member has the option of raising or lowering the employee’s contribution by 2% at any time.
Benefits are paid out exclusively in the form of a lump sum.
Novartis Management Pension Fund
Employees with a base salary in excess of CHF 220,000 per year are insured in the Management Pension Fund. The savings process for retirement benefits here is built up as a defined contributions plan. For the investment of individual assets you have six investment strategies to choose from. The contributions are independent of age.
Benefits are paid out exclusively in the form of a lump sum.
How are the Novartis Pension Funds 1 and 2 structured?
The Novartis pension funds are structured as defined contribution plans.
What benefits are insured?
Novartis Pension Funds insure the typical benefits of old age, death and disability.
Do I have to transfer my vested benefits?
Yes. According to regulations, when you join the pension fund, you are required to transfer both the vested benefits from your previous pension scheme and any assets in pillar 2 vested benefits institutions to us. The purpose of these transfers is to provide the most comprehensive protection of benefits possible and to avoid the disbursement of lower benefits in the event of a claim.As a rule, the vested benefits are not automatically transferred. If they have not yet been transferred to the Novartis Pension Funds, please arrange for this to be done as soon as possible:
Address for payment
Pensionskasse Novartis 1
Postfach4002 Basel
IBAN: CH14 0023 0230 1021 4390 1
Purpose of transfer: surname, first name and personnel number
Reason for transfer: vested benefits
For transfers at the post office counter or by payment order, please use the payment slip with QR code.
What is the pension insurance statement? When do I receive it?
This personal statement informs you about your present insurance situation. You receive it
- for the first time in the month when you join;
- then as soon as your existing vested benefits have been received by the Novartis Pension Funds;
- annually, as per January 1st;
- in addition, whenever your insurance situation changes as a result of voluntary extra contributions, early withdrawal for home ownership, repayment of sum withdrawn early or as a result of divorce or a court annulment of a registered partnership.
Information on the personal statement can be found via this link.