ARE THE FOUNDATION’S FUNDS INVESTED IN A DIVERSIFIED MANNER?
Yes. Our strategy involves investing around a third of our assets in real estate, a stable source of returns. Another third is invested in “volatile” stocks, which represent the growth factor for the portfolio. The remaining third is divided between investments in bonds, which, despite returns close to zero, serve as a buffer in the event of a crisis or recession, and so-called “alternative” investments, which are often illiquid but which help to improve the risk/return profile of the investment portfolio.
ARE PRIVATE EQUITY INVESTMENTS NOT TOO RISKY?
No. Private equity investments carry no more risk than investments in traditional shares if they are handled through well-established funds. They are complementary to traditional stocks as they enable us to participate in the growth of younger companies in different sectors. The main disadvantage of these investments is the lack of liquidity. Funds are typically locked in for 8 to 10 years, but the final returns are often significantly higher than quoted stocks and their volatility is lower.
WHAT IS YOUR POLICY ON EXCHANGE RISK HEDGING?
We do not try to predict the prices of currencies. It’s a highly random business. Our policy is to hedge some of our exposure to the US dollar due to its volatility and its secular downward trend against the Swiss franc. This hedged portion includes bond-type investments or investments with risk profiles similar to bonds. In this case, we choose to invest in tranches of funds hedged in Swiss francs. When they are not available, we operate the hedge ourselves through systematic forward sales. Conversely, our equity investments are not hedged. The Euro and other currencies are also not hedged for the moment. The purpose of these forward transactions is not to speculate on the rise or fall of the currency, but to reduce the overall exposure of the portfolio to foreign currency fluctuations and the volatility associated with them.
WHAT IS THE WAITING TIME BEFORE VESTED BENEFITS ARE TRANSFERRED TO THE STATE SUBSTITUTE SCHEME?
6 months after the exit date.
WHERE DOES THE DIFFERENCE IN CONTRIBUTIONS BETWEEN THE PENSION CERTIFICATE AND THE EXIT STATEMENT COME FROM?
The savings contributions increase your retirement capital, which at statutory retirement age will finance your retirement benefits (pension or capital).
The “risk” contribution gives you statutory coverage in the event of a disaster (inability to work, disability or death)
Contributions for administrative costs finance the work performed by the staff of the Foundation.
HOW MUCH TIME IS THERE TO CHOOSE TO RECEIVE YOUR RETIREMENT BENEFIT IN THE FORM OF CAPITAL?
1 month before the effective retirement date.
HOW MUCH WOULD I RECEIVE IF I MOVE ABROAD?
It is no longer possible for those insured who leave Switzerland for a member state of the European Union (plus Iceland and Norway) to receive cash payment of their full vested benefits entitlement if they are subject to a compulsory occupational pension scheme in that country (social security in France for example). Only the non-mandatory portion of the vested benefits may be paid. The minimum portion, according to LPP standards, must then be transferred to a vested benefits account or policy. This minimal portion is not lost however, as the holder of retirement capital at a vested benefits institution may, 5 years before the AVS retirement age at the earliest, request to receive the whole of their retirement benefits account.
Those insured who leave Switzerland for a member state of the European Union (plus Iceland and Norway) can no longer receive cash payment of their full vested benefits entitlement.
WHAT DOCUMENTS SHOULD BE PROVIDED FOR CASH REIMBURSEMENT WHEN LEAVING TO GO ABROAD PERMANENTLY?
A certificate showing cancellation of the cross-border permit and a residence certificate.
A certificate showing cancellation of any residence permits and a certificate of residence from the new domicile.
A certificate from the Residents Registration Office and a certificate of residence from the new domicile.
WHAT IS THE MINIMUM AMOUNT FOR EARLY PAYMENT AND WHAT INTERVALS ARE POSSIBLE? HOW LONG IS THE PAYMENT PERIOD?
The minimum amount is CHF 20,000. An advance payment can be requested every five years.
Payment will be made one week after the Foundation has received all requested documents.
WHICH DOCUMENTS MUST BE PROVIDED FOR EARLY PAYMENT? WHAT IS THE PROCEDURE TO FOLLOW?
At the request of the insured person, Copré will send a letter indicating the maximum amount which can be withdrawn and a form that must be returned to the Foundation, duly completed and accompanied by the following attachments:
– a recent extract from the land register or a draft deed of sale.
– for unmarried / not bound by a registered partnership, attach:
– a certificate of civil status (to be requested from the commune of origin).
Depending on the case:
– a mortgage contract + debt statement (mortgage repayment).
– regulations of the cooperative housing corporation (acquisition of shares).
– estimate (transformation of a dwelling).
– tax certificate(s) 21 EDP
HOW MUCH CAN BE REDEEMED, HOW IS THIS DONE?
The insured person must complete the form “request for calculation of maximum buyback” (also available on the website). On receipt of this, Copré will inform them of the maximum amount that can be redeemed during the current year.
FOR PEOPLE WHO ARE COHABITING, WHAT ARE THE CONSEQUENCES IF ONE OF THEM DIES?
If it is established that, before reaching the ordinary retirement age, the cohabitees have formed a civil partnership similar to marriage or a registered partnership, the surviving person is entitled to a cohabitee’s pension, subject to the conditions of paragraph 2.
The surviving cohabitee must:
fulfill the conditions of marriage within the meaning of the Civil Code, or the conditions for registration of the partnership within the meaning of the Registered Partnership Act.
not be receiving a survivors’ pension, or capital instead of a survivor’s pension, from another pension institution; either have formed an uninterrupted civil partnership during the 5 years preceding the death in the same common household with the insured person, or have maintained at least one child who was commonly under their charge.
Furthermore, the provisions relating to the surviving spouse’s pension are applicable to the cohabitee’s pension, subject to the following points:
The surviving cohabitee’s situation may not be better than that of a surviving spouse or registered partner.
The cohabitee’s pension is not adapted to price changes; entitlement to a cohabitee’s pension is finally extinguished on the death of the cohabiting partner if the cohabiting partner marries, establishes a registered partnership or enters into a new partnership similar to marriage, before the age of 45.
Payment of a single indemnity and the option of resuming the payment of the cohabitee’s pension are excluded.
The cohabitee’s pension is only paid out if the pension plan includes insurance for a surviving spouse’s pension.
What are the conditions for affiliation?
Any company (SA or SARL) can join the Copré Foundation. Self-employed persons and their employees also can also join the Foundation, which is not the case for self-employed persons without employees, who may not join the Foundation on an individual basis. New companies may join during the course of a year.
Companies already insured with another organisation usually join on January 1st.
What pension plans does Copré offer?
We offer you complete flexibility. Pension plans that meet your requirements. We can exactly recreate the pension plan(s) you already have.
Why choose Copré?
Copré is an entirely independent foundation which acts solely in the interests of those it insures.
Our independence enables us to offer risk/reward ratios that exceed market standards.