February communication

Dear Insured Persons, Affiliated Companies, and Partners,

We are pleased to inform you of the principal recent decisions taken by the Board of Trustees of the Collective de Prévoyance-Copré:

Interest on retirement savings capital

In view of the healthy state of the Foundation and the returns accumulated over recent years, the Board of Trustees has decided to grant for the 2018 period an interest rate of 1.5% on the retirement savings capital of its insured persons as at 31.12.2018.

For 2019, interest on retirement savings capital has been set provisionally at 1%.

The definitive interest rate for 2019 will be determined in January 2020 after examination of the same criteria.

Pension regulations

In the interests of progress and alignment with the needs of its insured, the Board of Trustees has decided to make the following changes to Copré’s Pension Regulations:

  • Pensionable salary (art.13)

The new definition of the insured salary is intended to exclude the variable elements of remuneration on the salary insured. However the pension plan may explicitly indicate the taking into account of the variable remuneration if desired. The new regulations specify that only the elements of the salary subject to AVS are insurable.

  • Pension of live-in companion (art. 27)

The insured person is no longer obliged to notify the Foundation of his/her live-in companion for the latter to be eligible for benefit in case of death – subject, of course, to the legal provisions.

  • Death benefits (art. 32, para. 3)

The Foundation offers those insured the possibility of modifying the order of the beneficiaries of the lump-sum death benefit who belong to the same category (art. 32, para. 3). This request must be made in writing to the Foundation.

  • Lump sum benefits (art. 40)

The time limit for notifying the taking of retirement savings in the form of capital is reduced to 1 month (as opposed to 3 months previously). Furthermore, the amount taken in capital is now free.

Offering optimum flexibility for those insured by Copré, these modifications to the regulations come into force on 1 January 2019. We invite you to consult the new pension regulations available on our website (www.copre.ch).

Conversion rate

In line with the approach initiated 2 years ago and with the intention of balancing the health of the Foundation and the desire of offering better benefits, the Board of Trustees of Copré has set an overall conversion rate of 6.2% by the year 2023. This conversion rate will be attained in a progressive manner (adjustment of 0.1% per year) and continues to place Copré among the most generous foundations in this respect.

This policy is intended to offer an appropriate balance between the interests of the active insured and those of the Foundation’s future pensioners.

In addition, with a view to simplification, the Board of Trustees has chosen to adjust and improve the conversion rates applied in the event of early or deferred retirement.

Each year of early retirement will reduce the regulatory conversion rate by 0.2% (the converse is applied in the event of retirement after the legal age).

The decisions taken reflect Copré’s continued express desire to maintain a significant level of security and to provide its insured persons and companies with benefits and services of the highest quality.

We thank you for your confidence and remain,

Yours sincerely