Five questions for Reto Buholzer, Vice Chairman of the Pension Fund of F. Hoffmann-La Roche Ltd.
A century old, independent and healthy
"I am proud that employee and employer representatives work together as a single unit."
The Pension Fund of F. Hoffmann-La Roche Ltd is celebrating its centenary this year. Looking back, what can it be particularly proud of?
The Pension Fund is in good shape and well positioned. I am proud that employee and employer representatives work together as a single unit. There are no hierarchies, everyone is equal. Since I joined the Board of Trustees some 17 years ago, decisions have consistently been taken unanimously. We discuss the solutions with one another. If someone has a different opinion, we go back over everything until all issues have been clarified completely. This also always includes all alternates, resulting in a very broad-based culture of discussion on the Board of Trustees. When someone gets involved in the Board of Trustees, we assume that they will stay with us for a long time.
What was the greatest challenge over the past 100 years?
Our Pension Fund introduced many rules before changes to legislation. Subsequent changes have then repeatedly had to be made in line with the legislation, which have not always been to the benefit of those insured. In a group like Roche, there are a large number of changes over time, with some business areas leaving the company and others joining. The Pension Fund was always a guarantee in these situations, and the Board of Trustees was always able to find a solution with regards to insured persons. Those already drawing a pension always stayed with us when there was a spin-off.
What is the Pension Fund currently focusing on?
The much-discussed reform proposals. In principle, we clearly support a reform of the Federal Occupational, Old Age, Survivors’ and Disability Pension Act (BVG). We are most likely to support the proposal of the Swiss Pension Fund Association (ASIP). We firmly oppose the pension supplement. A lot of independent pension funds have done their homework. The increasing regulation and complexity means a lot of effort for us. A board of trustees that furthers its knowledge and stays on the ball can keep up with this, but pension fund issues are difficult to understand for non-experts.
Roche employs people from more than 100 countries. What impact does this have?
Our BVG looks completely different to the systems in other countries. We therefore have to explain our Swiss system to employees from other countries to avoid misunderstandings. This is a major challenge.
What will it take for the Pension Fund to stay fit for the next 100 years?
Pension funds need to be separate from politics. We have a very good system here in Switzerland, but we are being increasingly restricted. It needs a real partnership with the corresponding freedoms. I firmly believe that there will continue to be independent pension funds. Competition revitalises our system.
Interview: Judith Yenigün-Fischer
Source: Schweizer Personalvorsorge 08-21