Social insurance and fringe benefits

Pension fund: comPlan

At the end of 2016, around 19,300 Swisscom employees and some 7,200 pensioners were insured under comPlan. In 2016, comPlan posted a net return on plan assets of approximately -0.6% (prior year: 0.6%). On 31 December 2016, the market value of plan assets amounted to CHF 9.9 bil­lion (prior year: CHF 9.4 bil­lion). In accordance with Swiss accounting standards for pension funds, the coverage ratio is around 101% (prior year: 108%).

In order to safeguard the financial situation of the pension fund in a low interest rate environment and in a society characterised by rising life expectancy, the Board of Trustees of comPlan decided in autumn 2016 to, starting in July 2017, gradually lower the conversion rate from 6.11% to 5.34% in September 2020 and to increase savings contributions. comPlan and Swisscom initiated a range of mitigating measures to make the changes as socially responsible as possible.

The conversion rate will thus be decreased in monthly increments of 0.02% over this period. In addition, Swisscomin its capacity as employer will assume a premium of 1.4% within the context of the savings contribution increase for employees aged 22 to 54, while employees themselves will only have to pay a premium of 1.1% of their insured salary. Furthermore, employees born between 1952 and 1969 will receive an extra contribution financed by comPlan and Swisscom in order to limit the pension reductions to no more than 6% of their current value. Finally, Swisscom is raising the conversion loss contribution from 0.7% to 1.2% of insured salary. This will prevent any further reduction in the conversion rate to less than 5%.

Fringe benefits

All Swisscom employees enjoy fringe benefits in the form of a personal allowance on Swisscom subscriptions, including fixed network, Internet and mobile services, and a Swiss Federal Railways (SBB) half-fare travelcard. These fringe benefits are offered irrespective of function or whether the employee works full time or part time. Apprentices also receive an allowance for learning materials. Swisscom also supports external childcare facilities through financial contributions and by providing access to free counselling services through the familienservice® family service. It also pays the employer’s pension fund contribution for unpaid leave for a maximum of three months.

Swisscom offers employees 17 weeks of maternity leave and ten days of paternity leave on the birth of a child. Parents who adopt a child are also entitled to ten days of adoption leave.

Supplementary regulations governing management staff

Members of management have the opportunity to take partly paid leave (sabbatical) of up to three months, depending on their length of service in management. Swisscom pays their salary for 30 working days. Members of management are also exempted from the obligation to pay a contribution to the collective insurances for illness and accident as well as management staff risk insurance in the event of death.