Pension benefits and insurance, expenses and non-monetary benefits
Members of the Group Management are insured against old age, death and disability in accordance with the prevailing social insurance legislation. They are affiliated to a pension fund. The benefits are designed to cover the insured and their dependants in respect of retirement and the risks of disability and death, and exceed the legal requirements under the Swiss Federal Act on Occupational Old Age, Survivors’ and Invalidity Pension Plans (BVG). The members of the Group Management participate in the pension fund that is available to all employees in Switzerland. This consists of a basic plan and a supplementary plan. Annual income of up to CHF 860,400 are insured through this supplementary pension solution. The contributions are depending on the age of the individual in question and are paid in equally by the employer and the employee. In the supplementary plan, the employer pays a slightly higher contribution. However, employees can choose between different contribution scales, whereby the employer’s savings contributions remain the same.
Members of the Board of Directors and the Group Management receive an expenses allowance each month, which covers all expenses below CHF 50. Beyond that, the currently valid rules on expenses for all employees apply. TX Group does not provide company cars to the members of Group Management. The same rules as for all other employees apply with respect to additional non-monetary benefits voluntarily provided by the company, such as free newspaper or magazine subscriptions or long-service awards.