Implementing Regulation of the Act governing the Pension Fund of the Canton of Valais (CPVAL) (RCPVAL) - Purpose (RPKWAL)
Statutory Text (4 Provisions)
**1. This regulation governs the modalities for the implementation of the law on the pension fund of the Canton of Valais (PKWAL).**
1. The State of Valais guarantees, within the limits of the Federal Law on Occupational Retirement, Survivors' and Disability Pensions (BVG), the amount of the ongoing pension benefits and the exit benefits as of January 1, 2020, the guaranteed static pension granted to its personnel upon the transition to the contribution-based scheme on January 1, 2012, and the statutory and regulatory benefits due in the event of a pension occurrence.
1. According to Article 15 GPKWAL, the Council of State appoints employer representatives to the board of the GPK and the board of the Open Pension Fund (OPK), in which the State of Valais insures its employees; while doing so, it observes the number of employer and insured employee representatives provided for in the organizational regulations of PKWAL for the affiliated pension funds (PF).
2. The appropriate representation of employers affiliated beyond the State of Valais is determined separately for the GPK and the OPK, depending on the proportion of the circle of insured employees of the affiliated institutions in relation to the circle of insured employees of the State of Valais. The State of Valais consults the affiliated employers in this regard. The provisions of Article 12, paragraph 4 GPKWAL remain reserved.
3. Furthermore, the representatives of the state are subject to the application of the provisions of the law concerning the participation of the state in legal entities and other institutions.
1. The 100 percent financing of the obligations of the GPK shall occur on January 1, 2020, through an acknowledgement of debt, taking into account the net assets after the dissolution of the existing fluctuation reserves.
2. The recognized debt shall bear interest at a rate equivalent to the technical interest rate plus a margin of 50 basis points. The interest shall be transferred annually to the GPK. Repayment installments shall be agreed upon annually and transferred by mutual consent between the State of Valais and the PKWAL.