§ 11 Gesetz über die Pensionskasse des Kantons Schwyz (Pensionskassengesetz, PKG), vom 21. Mai 2014

Restructuring Contributions and Reduced Interest on Savings Balances in Case of Underfunding

1. If the funding ratio of the pension fund, as determined by the annual financial statements, is below 100%, the measures according to paras. 2 and 3 shall be taken during the calendar year following the determination of the underfunding.

2. Employers shall pay the following restructuring contributions, dependent on the funding ratio, in percentages of the insured annual earnings, for all fully insured persons and savings insured persons

a) 3.0% if the funding ratio is below 90%;

b) 2.0% if the funding ratio is at least 90% but below 95%;

c) 1.0% if the funding ratio is at least 95% but below 100%.

3. Fully insured persons and savings insured persons shall pay a restructuring contribution of 1.0% of the insured annual earnings. In addition, the savings interest rate applicable to the interest on savings balances shall be reduced by 1.0 percentage point below the BVG minimum interest rate set by the Federal Council (reduced interest rate) if the funding ratio is below 90%. If the funding ratio is at least 90% but below 95%, the savings interest rate shall be reduced by 0.5 percentage points. However, savings balances shall be remunerated with at least 1.0% or with any BVG minimum interest rate that may be even lower.

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