BZM: Pension funds to join Profond collective foundation
The pension funds of Basler Zeitung Medien are set to join the Profond Collective Foundation as of July 1. Board Chairman Filippo Leutenegger presented this proposal on Wednesday to the board members of the BZM pension funds and to the employees.
The company BZM is prepared to enable the connection to the Profond collective foundation with a considerable one-time contribution. In this way, the well-established rights of the insured and pension recipients can be safeguarded with this reorganization. Since such a step would also eliminate the high restructuring contributions currently being paid by employees, broad approval is expected. The implementation of this solution is subject to the approval of all parties concerned and the relevant bodies.
Due to underfunding, the Board of Trustees of the BZM pension funds decided in July 2011 to make restructuring contributions of 4.5 percent each from employees and employers.
(Image: Keystone)
