The protection of our customers and employees is of prime importance to Swisscanto Flex Collective Foundation. The pandemic task force of Swisscanto Flex Collective Foundation has therefore been keeping a close eye on developments regarding the spread of the coronavirus and has initiated the required measures. The pandemic plan of Swisscanto Flex Collective Foundation focused on wide-ranging preparations to ensure that we can maintain our services. In planning these measures, the pandemic task force followed the recommendations of the Federal Office of Public Health and can progressively activate these measures according to the current situation in Switzerland. Swisscanto Flex Collective Foundation is ready to face different scenarios and, when needed, will be able to decide quickly about the next steps in consultation with the competent authorities.
Swisscanto Flex Collective Foundation will continue to remain at your service as usual. Our customers can also rely on us in these trying times.
Employer contribution reserves can also be used for employee contributions
In the context of the ongoing coronavirus pandemic, the Federal Council has once again extended the range of usage options for employer contribution reserves. Until 31 December 2021, employers may also use employer contribution reserves to fund employee contributions. This measure will not result in any disadvantages for employees. The employer deducts its share of the contribution from the employees’ salary as it would under normal conditions and the entire contributions are then credited to the employees by the pension fund. The aim of this measure is to make it easier for employers to bridge liquidity bottlenecks. The regulation was enacted on 12 November 2020 and applies until 31 December 2021. It is materially equivalent to the previous COVID-19 ordinance on employer contribution reserves, which expired on 26 September 2020.
In addition, Parliament has incorporated a transitional provision on Art. 47a BVG into the Federal Law on Occupational Retirement, Survivors’ and Disability Pension Plans (BVG). It enables insured persons aged 58 and over who suffered an involuntary job loss after 31 July 2020 to apply for continuation of their insurance from 1 January 2021.