28. Pension Fund

There exist various pension schemes within the Group, which are based on regulations of their respective countries. In Switzerland, these are contributor funded schemes in accordance with Swiss pension fund law; abroad they are state-guaranteed contribution-based pension schemes. The schemes are financed either through contributions to legally independent institutions and trusts or by registering the pension fund liability in the financial statements of the Group companies.

Employer's Contribution Reserves

Company Sponsored Pension Funds

CHF millions

2020

2019

 

 

 

Nominal value 31.12.

12.9

13.0

Utilisation waiver 31.12.

–

–

Other value adjustments 31.12.

–

–

Discounting effects 31.12.

– 0.6

– 0.7

Book value 31.12.

12.3

12.3

Assets and Liabilities from Pension Funds

CHF millions

 

 

 

 

 

 

Company Sponsored Pension Funds

Pension Funds without Excess / Deficiency Cover

Pension Funds with Excess / Cover

Pension Funds without own Assets

Total

Excess / deficiency cover 31.12.2020

13.8

–

32.2

–

46.0

Economic utilisation/liabilities 31.12.2019

–

–

–

– 12.1

– 12.1

Economic utilisation/liabilities 31.12.2020

–

–

–

– 11.9

– 11.9

Changes 2020

–

–

–

– 0.2

– 0.2

Contributions restricted to the period*

–

–

2.5

1.6

4.1

Pension expenses 2019

–

–

2.4

1.9

4.3

Pension expenses 2020

–

–

2.5

1.4

3.9

* including changes in employer's contribution reserves

The values for pension funds of Swiss companies are based on previous years' financial statements, whereby all substantive decisions in the current fiscal year are taken into account. The uncommitted funds are not available to the Vetropack Group.

CHF millions

2020

2019

 

 

 

Key influential factors

 

 

– Changes in employer's contribution reserves

–

0.1

– Changes in economic utilisation / liabilities

– 0.2

– 0.3

– Pension fund contributions

4.1

4.5

Total Pension Fund Expenses

3.9

4.3

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