5. Other notes
5.1 Employee pension plans
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CHF million |
Balance sheet 12/31/2019 |
Balance sheet 12/31/2018 |
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Result in personnel expenses 2019 |
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Result in financial income 2019 |
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Result in personnel expenses 2018 |
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Result in financial income 2018 |
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Employer contribution reserves |
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Employer-funded pension fund |
37.6 |
32.7 |
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4.9 |
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–0.5 |
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–1.4 |
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There are no waivers of use. No funds were used in the current year (2018: CHF 0.5 million) to purchase pension benefits. The financial result comprises the return on the asset investment.
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CHF million |
Surplus/ deficit 12/31/2019 |
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Economic benefit/ obligation 12/31/2019 |
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Economic benefit/ obligation 12/31/2018 |
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Currency translation effect/ Change in scope of consolidation/use |
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Change to prior-year-affecting result in reporting period |
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Contributions to be allocated to reporting period |
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Current service cost in personnel expenses 2019 |
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Current service cost in personnel expenses 2018 |
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Economic benefit/ obligation and current service cost |
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Employer-funded pension fund |
5.9 |
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Pension funds without surplus/deficit |
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12.1 |
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12.1 |
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12.8 |
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Pension funds with deficit |
–0.9 |
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–0.9 |
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–1.5 |
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–0.6 |
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0.7 |
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0.1 |
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0.8 |
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Pension funds without own assets |
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–0.4 |
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–0.4 |
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0.8 |
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0.8 |
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1.2 |
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Total |
5.0 |
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–1.3 |
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–1.9 |
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–0.6 |
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13.7 |
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13.1 |
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14.8 |
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In the previous year, the surpluses/deficits amounted to CHF 3.6 million and the contributions to be allocated to the reporting period were CHF 14.7 million.
It is not planned to use the free reserves of the employer-funded pension fund for the economic benefit of the Group.
Accounting principles
The pension obligations of Group companies related to retirement, death and disability benefits are based on the rules and customs in each country. Regular contributions are paid. The pension and benefit payments and outstanding benefits during the accounting period and the regular contributions to the various pension funds are charged to the income statement. Private pension plans in Switzerland serve to build up retirement assets for conversion into fixed pensions, with additional risk benefits. Any actual economic impact of the pension funds on the company is calculated at the balance sheet date. An economic benefit is only capitalized when this is to be used for the future service cost of the company. An economic obligation is recognized as a liability when the requirements for the formation of a provision are met. Freely available employer contribution reserves are shown as assets. The difference between the annually determined economic benefits and obligations and the change in the employer contribution reserves are included in the income statement.
5.2 Related-party transactions
Transactions with related parties consist of normal business transactions under normal market conditions with an associated company as commercial agent and distributor.
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CHF million |
2019 |
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2018 |
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Trade receivables |
1.1 |
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0.8 |
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Net revenue |
3.3 |
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3.4 |
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Commission expenses |
1.7 |
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1.9 |
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