1. Emilie Clerc Benefits Service
CERN Pension Fund
Emilie Clerc
Benefits Service

2. Summary 1) The Fund Purpose Members Resources 2) Benefits Retirement
Disability
Surviving Spouse
Orphans
Transfer value

3. The Fund

4. Reference salary* Staff members
Basic salary x Coefficient C
Ex.: Bb.0 (basic salary = 6’106 CHF)
Coefficient C
(Annexe A of the Rules and Regulations of the CERN PF)
* Pensionable salary

5. Reference salary* Fellows 5’927 CHF
* Pensionable salary

6. Reference salary

7. Purpose To insure its members and beneficiaries against
the economic consequences of:
old age
disability
death
SLIDE 1: CERN PENSION PLAN: KEY FEATURES
Let me start with a reminder of the key features of CERN's pension plan.
In effect:
- participants accrue 2% of reference salary per year of service, up to a maximum of 35 years
and,
- for the past quarter century, the plan has granted retirees either partial or full inflation adjustments
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8. Members CERN staff members CERN fellows
ESO (European Southern Observatory) International
Staff Members

9. Resources contributions from CERN and ESO
contributions from the members
income from the investment of assets
transfers from other schemes

10. of the member’s reference salary
Contributions
Organization : 20.59%
Member : 10.29%
of the member’s reference salary
SLIDE 1: CERN PENSION PLAN: KEY FEATURES
Let me start with a reminder of the key features of CERN's pension plan.
In effect:
- participants accrue 2% of reference salary per year of service, up to a maximum of 35 years
and,
- for the past quarter century, the plan has granted retirees either partial or full inflation adjustments
[CLICK TO NEXT SLIDE] 9

11. Investments Strategic allocation Equities : 34% (25% - 45%)
(example)
Equities : 34% (25% - 45%)
Bonds : 37% (30% - 45%)
Real-Estate : 15% (10% - 20%)
Cash/diversifying assets : 14% (0% - 20%)

12. 2009 results
Global performance : 13.5%
Net assets : 3.9 billion CHF

13. Transfers from other schemes
The purpose:
To put back the effective date of entry to an
earlier date.

14. Benefits

15. Retirement Pension The official retirement age is 65
Pensions are calculated on the basis of 2% of the last reference salary per year of membership
(minimum 5 years; maximum 35 years)

16. Disability Pension
Paid to a member whose disability is recognised by the Organization
Equal to the retirement pension the member would have received at 65
It can be total or partial

17. Surviving spouse Pension
Paid to the spouse of a member whose marriage dates from at least 1 year
Equal to 1.1% of the last reference salary per year of membership until the age of 65

18. *of the member’s reference salary
Orphans’ Pension
Equal to :
- 24%* for 1 orphan
- 34%* for 2 orphans
- 40%* for 3 orphans…
*of the member’s reference salary

19. Transfer value Equal to:
- 14.7% of the last reference salary for the first 10 years of service
- 22% of the last reference salary for each further year of service

20. Less than 5 years of service
1st scenario
Less than 5 years of service
the transfer value can be paid into another pension scheme
the transfer value can be paid to the member

21. Between 5 and 10 years of service
2nd scenario
Between 5 and 10 years of service
the member is entitled to a deferred retirement pension
the transfer value can be paid into another pension scheme
if the latter is not possible, the transfer value can be paid to the member

22. More than 10 years of service
3rd scenario
More than 10 years of service
the member is entitled to a deferred retirement pension
the transfer can be paid into another pension scheme

23. Other information Web site : http://pensionfund.cern.ch
- Rules and Regulations of the CERN Pension Fund
- Financial statements
Annual General Meeting
Emilie Clerc (5/5-017)
tel.: 78798