Affiliation

Membership is compulsory for all persons:

  • employed for more than three months, and
  • earning an annual salary higher than the LPP entry threshold.

The earliest possible entry date is January 1 of the year following the employee’s 17th birthday.

The contribution to the Fund is due by the employer and the insured member from the date of affiliation, but at the earliest from January 1 following the date on which the insured member reached the age of 24. No contribution is due by the employer and the insured member before this date. The contribution in case of death and disability is paid by the Fund.

When an employee becomes a member of the Fund, he must request the transfer of his vested benefits from his previous vested benefits institutions.

In order to finalize the affiliation, the “Request for affiliation” form must be completed and signed and then returned to the Nestlé Pension Fund.

The request for the transfer of your vested benefits must be made by using Request for the transfer of vested benefits, which simply needs to be submitted to the previous pension or vested benefits institution.

The annual pensionable salary is equal to the annual base salary (excluding bonus but including 13th salary) minus the coordination amount. The coordination amount is in principle equal to 1/3 of the annual salary up to maximum CHF 20 000.

Contributions

The Pension Fund offers its active members the choice of 3 different saving plans (Basic / Standard / Top), which differ according to the level of the employee’s savings contributions. The accrued contributions have an impact on the vested benefits and forecasted retirements benefits.

In order to request the modification of your savings plan, you will have to fill in the online form below “Choice of Savings Plan”:

https://webapppn1.hq.nestle.com/appl_pks1/SavingsPlan

Important: The contribution rate can be modified only once a year on 1 April. Your decision has to be communicated to the Fund until 15 March at the latest by filling and sending in the Choice of Savings Plan form.

This level applies for new members joining the Fund and / or insured members who have never chosen a contribution rate.

Voluntary purchase

It is possible to make a voluntary contribution if a pension gap exists. You can check your pension benefit gap by using our simulation tool.

This gap is calculated as follows:

The maximum theoretical savings account is determined by an actuarial table contained in the Fund Rules. It corresponds to the maximum theoretical savings account, which would have been constituted from the age of 25, in the chosen plan based on the current salary.

The voluntary purchases are credited to the member’s savings account.

The retirement benefits insured with the Fund are increased each time a purchase is made. In the event of an active member’s death, his voluntary purchases are part of the lump sum death benefit (see conditions mentioned on page 26 of Practical Guide).

Banque : UBS SA
Account n°: 240C07847870
Clearing: 00240
SWIFT: UBSWCHZH80A
N° IBAN: CH67 0024 0240 C078 4787 0
Beneficiary: Fonds de Pensions Nestlé, Avenue Nestlé 55, 1800 Vevey
Communication: Please indicate your last name, name and employee number

Encouragement of home ownership

An active insured member may, no later than three years before reaching the legal retirement age, request the early withdrawal of his pension assets to finance home ownership for his own needs. The insured member must submit the appropriate supporting documents.

Regarding the withdrawing terms, you will find useful information about the procedure and the transaction in the Encouragement of home ownership Implementing regulations 2019.

You also have the possibility to simulate the effect that such a withdrawal will have on your retirement benefits by using the simulation tool.

The maximum amount authorized for the encouragement of home ownership corresponds:

  • up to the age of 50, to the entire vested benefits
  • for members aged over 50, either to the amount of vested benefits accrued at the age of 50, or to half of the amount of the vested benefits accrued at the time of payment, whichever is higher.

Additional voluntary contributions to the Fund cannot be withdrawn as a lump sum three years following the payment.

Moreover, an early withdrawal can only be requested every 5 years.

The form Encouragement of home ownership with occupational benefit plans has to be filled in. On page 2 are listed all the documents to provide to the Fund administration for an official request for early withdrawal.

In accordance with the regulations, the Pension Fund shall make the payments every last working day before the end of the month. In order to do so, we must have all documents in our possession before the 15th of the current month.

Beneficiary in case of death

Nestlé offers the possibility to couples who have been living together for at least 5 years or have a child, to register the partner in the same way as a spouse.

To register a partner, the form Designation of beneficiaries in the event of death – Surviving partner has to be filled in. You will also find more information in the Practical Guide on page 23.

However, this possibility only applies to people born after 1958 and insured under the new pension plan valid since July 2013.

If an active member dies and no surviving spouse’s or partner’s pension is payable, the survivors of the deceased member are entitled to a lump sum death benefit in the following order:

Category 1.

  • The member’s children who are entitled to a child’s pension, or
  • The persons previously designated by the member, provided that, at his death, they were financially dependent on him.

Failing any beneficiaries in category 1:

Category 2.

  • The member’s children who are not entitled to a child’s pension; o Failing them, the parents;
  • Failing them, the brothers and sisters.

Failing any beneficiaries in category 2:

Category 3.

The member’s other legal heirs, excluding public bodies.

If there are several beneficiaries, the lump sum death benefit is divided equally among them.

The insured member may alter the order of beneficiaries within the same category and / or specify how the lump- sum death benefit is to be divided between the beneficiaries of an individual category using the form Designation of Beneficiaries in the Event of Death. The order of the categories may not be altered.

You will find more information on pages 26 & 27 of the Practical Guide.

Departure from the Nestlé Group

After the end of employment date, a period of six months is granted in order to request the transfer of the vested benefits.

If the insured member does not provide the necessary information on the use of the vested benefits, the Fund will automatically transfer the vested benefits to the LOB Substitute Institution Pension Plan.

If the insured member leaves Switzerland permanently for a country in the EU or EFTA and is covered by a retirement, death and disability insurance scheme in the new country, only the extra-mandatory part of his vested benefits can be paid directly into his private bank account. The mandatory part must be transferred to a vested benefits account in Switzerland.

If the insured member leaves Switzerland for a country outside the UE or EFTA, the transfer of the totality of his vested benefits can be paid out on his private bank account.

If an application for disability benefits has been made, the termination benefit will be maintained with the Fund until formal decision of the Disability Insurance. Please contact the Fund to discuss the issue.

According to Art. 47a al 1 LPP, the insured member who after reaching the age of 58 ceases to be affiliated to the compulsory insurance, due to a termination of the employment relationship by the employer, may request the insurance be maintained with the same pension institution under certain conditions.

Retirement

Early retirement is possible for all members as of the age of 58.

The different retirement options are detailed on pages 4, 5 & 10 of the Practical Guide.

Important: Contributions to AVS are mandatory until the legal retirement age. Therefore, in the event of early retirement, people who are not in gainful employment must pay contributions as non-employed persons. This rule also applies to the spouse if he or she is not in gainful employment (see below for the competent institution).

At least 4 months in advance. It is advisable to contact the Fund in order to obtain detailed calculations as well as the necessary documents for the payment of the benefits.

Important: In general, retirement benefits are paid in the form of a pension. However, members may request a
portion of their savings account in the form of a lump sum.
A written request must be made irrevocably at least three months prior to the retirement date. The signature of the spouse is mandatory.

The FPN website offers the possibility to simulate retirement conditions by using our simulation tool.

A voluntary purchase can be made if a pension gap exists. The maximum amount that can be accepted by the Fonds de Pensions Nestlé is mentioned on your pension statement.

Important: Any purchase amount must be credited to your savings account with the Fund before your last day employment. Please inform the Fund of your intention to make a voluntary purchase when completing the form “Request for retirement conditions”.

Important: Any voluntary purchase made 3 years before the retirement date that involves a lump sum payment, is not recommended, as it will imply the cancellation of the fiscal advantage previously granted.

In order to balance out their income, members can request payment of a temporary annuity (AVS bridge pension), which will be paid out until they reach legal retirement age. The member can fix the amount of this annuity; however, it may not exceed the maximum annual OASI/AVS old-age pension. The financing is borne by the Member and involves a lifetime reduction of the retirement pension as well as of the related survivors’ benefits. If a member receiving a temporary annuity dies, no survivor’s pension is due in respect to the temporary annuity.

All beneficiaries of a retirement pension are also entitled to a pension for each of their children in line with the provisions outlined in the regulations.

The pension shall be paid until the child turns 18. Subject to a proof of studies, the entitlement shall be extended until the end of education but not beyond the age of 25. The Fund must be informed in case of interruption of studies. A copy of an identification document is also required for all children entitled to these benefits.

Pension beneficiary

In case of death of a pension beneficiary, the spouse or a close relative should contact the Fonds de Pensions. A letter confirming the benefits will be sent to the survivors.

Important: Old-Age and Surviving Dependents’ Insurance (OASI/AVS) must also be informed of the death.

The surviving spouse’s/surviving partner’s pension is, in principle, equal to 70 % of pension in payment, except in the case of an age difference of more than ten years or in the case of marriage/designation of a partner after normal retirement age. The benefit is also reduced in case of marriage or designation of a partner after the normal retirement age.

Designation of a partner only applies to members affiliated to the Savings Plan.

Important: The entitlement to a surviving spouse’s pension ends in case of remarriage. The surviving partner’s pension ceases in case of marriage or sharing of a new common life.

Each child of a deceased insured member is entitled to an orphan’s pension that will be paid until the age of 18. Subject to a proof of studies, the entitlement shall be extended until the end of education but not beyond the age of 25.

The pension is equal to 15% of the disability or retirement pension in payment.

Important: If the child has lost both parents, the orphan’s pension is doubled.

The pension is paid on the third working day prior to the end of the month. The exact dates are mentioned in the communication sent by the Fund at the beginning of each year or available here.

In most cases, the compensation office of the Nestlé compagnies in Switzerland:

Albicolac

P.O. Box 5062
CH-3001 Bern

Tel : +41 (0)31 300 20 60
Fax : +41 (0)31 300 20 66
Email : info@albicolac.ch
Web : www.albicolac.ch

However, if the spouse is already receiving an AVS pension, it is the compensation office which pays the pension.

The Fonds de Pensions Nestlé must be informed in writing of any changes to bank details. It is possible to send this notification by e-mail or post, or else submit the relevant form.

The Fonds de Pensions Nestlé must be informed in writing of any change of address. It is possible to send this notification by e-mail or post, or else submit the relevant form.

Important: Any notification of departure from Switzerland or arrival in Switzerland must be accompanied by a certificate from the residents’ registration office.

The Fonds de Pensions Nestlé may at any time request the submission of an original life certificate to certify further entitlement to benefits. If this obligation is not fulfilled, the Fund may suspend or cancel the payment of benefits.

For pensioners residing outside of Switzerland, a life certificate is requested during the first quarter of each year.

For pensioners residing in Switzerland, a life certificate is requested on a periodic basis.

Pensioners may become members of associations that have been set up at Nestlé for this purpose:

  • Association Sports et Loisirs Nestlé (ASLN), Vevey
  • Association de Retraités Nestlé (ARN), Vevey
  • Nestlé Retirees Association*, Orbe
  • Nestlé Retirees Association*, Broc
  • Nestlé Retirees Association*, Konolfingen
  • Nestlé Retirees Association*, Région Zurich
  • Meeting Group*, Bâle
  • Meeting Group*, Rorschach

*For more information, please contact the Human Resources department of the respective Nestlé companies.