Key information for beneficiaries

The Pension Fund’s purpose is to insure its members, beneficiaries and members of their families against the economic consequences of disability, old age and death.

MONTHLY BENEFITS

Your basic pension is based on:

• your reference salary
• years of membership
• accrual rate (2% for members who joined the Fund on or before 31 December 2011; 1.85% for members who joined after this date)

The following benefits may be added to the basic pension:

• Family allowance (if married or unmarried with dependent children)
• Child allowance

The following contributions are deducted from the basic pension:

• Health insurance (if relevant)
• Life insurance (if relevant)

END-OF-CONTRACT FORMALITIES

The forms relating to becoming a beneficiary are usually distributed about three months before your last day of work:

• Application for a retirement pension
• SHIPID (Spouse Health Insurance & Professional Income Declaration), if relevant
• Life insurance form, if relevant

LIFE INSURANCE

Provided that you were a member of the life insurance scheme for at least five years before the end of your contract, it is possible to remain in the scheme.

• The capital insured can be less than or equal to the amount insured while you were a member
• The premium is based on gender, age and capital insured
• The premium is deducted from the monthly pension

ONCE YOU ARE A BENEFICIARY

• The Benefits Service is your key point of contact
• Benefits are paid monthly in Swiss francs into a personal bank account in Switzerland between 6 and 8 of the month
• There is no monthly pay notification. Instead, all beneficiaries receive one single monthly statement in January for the current year
• Educational fees are not reimbursed
• For questions regarding the SHIPID, please contact chis.shipid@cern.ch

Official communications between the beneficiary and the Fund

• The month in which you become a beneficiary, you will be sent an official letter confirming your rights and the monthly amount of your benefits
• In January, beneficiaries will receive a monthly breakdown that will be valid for the entire year, unless there is a change to their personal situation, in which case an updated breakdown will be issued
• In February, beneficiaries will receive a statement of their pension income for tax declaration purposes
• In June, beneficiaries with dependent children aged between 20 and 25 years old will receive a “declaration of intent” concerning their children’s personal/educational situation, to be completed and returned to the Pension Fund
• In November, beneficiaries will receive a request to complete a “life certificate” to be returned to the Pension Fund
• In December, beneficiaries will receive an "Annual adjustement of benefits on 1 January" communication