This Law regulates the organization of the Federal Pension Fund (PUBLICA) and defines its tasks and competences.

¹ PUBLICA is a public law institution of the Confederation with legal personality.

² It has its seat in Berne and is registered in the Register of Commerce.

¹ PUBLICA provides the staff of employers who are affiliated with them against the economic consequences of old age, disability and death. It implements the foresight according to the Federal Act of 25 June 1982 on occupational pensions, survivors and invalidity (LPP) ¹ And the law of 17 December 1993 on free passage (LFLP) ² It shall be entered in the register of professional foresight.

² The Federal Council may entrust other tasks to PUBLICA in so far as they have an objective report with the scope of activity set out in this Law. The resulting costs are borne by the Confederation.

¹ Are affiliated with PUBLICA Employers covered by s. 32 B The Act of 24 March 2000 on the Personnel of the Confederation (LPers) ¹ .

² Can also affiliate with PUBLICA employers who are close to Confederation or who perform a public task on behalf of the Confederation, a canton or a municipality. PUBLICA decides on affiliation.

³ The affiliation is effected by the conclusion of an affiliation contract. The pre-need regulations and the fixing of administrative costs are an integral part of this contract.

PUBLICA is subrogated, up to the prescribed benefits, to the rights of the insured and its survivors against any responsible third party. The regulations and the scope of subrogation are governed by s. 72 to 75 of the Federal Act of 6 October 2000 on the General Part of the Law of Social Insurance (LPGA) ¹ .

¹ PUBLICA processes the personal data of insured persons and their relatives necessary for the implementation of occupational foresight.

² If the fulfilment of its tasks requires it, it may process the following sensitive personal data:

A.

Health data;

B.

Data on social measures and prosecutions.

³ In order to control the data of insured persons, PUBLICA can in particular compare its electronic data with those of Swiss and foreign social insurance and insurance institutions, in particular the Federal Compensation Fund, the Central clearing house, Swiss compensation fund, military insurance, Swiss National Insurance Fund in the event of accidents, and AI for persons residing abroad.

⁴ The Board of the caisse (art. 10, let. (a) rule:

A.

Competence in data processing;

B.

The data retention period;

C.

Organization and operation of automated systems;

D.

Data security.

¹ For each employer who is affiliated with it, PUBLICA is a Provident Fund comprising the employer, its employees and the beneficiaries of insurance annuities.

² PUBLICA may be a common Provident Fund for several affiliated employers.

³ A Provident Fund may also be incorporated or maintained in the case of an employer only covered by annuities. If an employer wishes to remain affiliated with a contingency fund without having an employee, a new insurance contract must be entered into.

¹ Each contingency fund takes on its own actuarial risks.

² PUBLICA is for all pension funds:

A.

A provision to compensate for actuarial fluctuations in the risk of death and disability that cannot be covered by risk premiums; pension funds with no employees (art. 7, para. 3) are excluded;

B.

A provision for benefits paid in special cases.

¹ Each contingency fund consists of a joint body made up of representatives of the employer and employees. Provident funds which rely only on beneficiaries of annuities are relieved of this obligation if the Confederation, a canton or a municipality guarantees the payment of benefits.

² Any conclusion, modification or termination of an affiliation contract requires the participation and approval of the Joint Body.

³ The Joint Body shall assume the tasks and powers conferred upon it by this Law, the operating and organisational regulations of PUBLICA and the contract of affiliation.

⁴ The employer and its employees shall appoint their representatives to the joint body.

The organs of PUBLICA are:

A.

The Commission de la caisse (Commission);

B.

The Assembly of Delegates;

C.

Management;

D.

The supervisory body within the meaning of s. 53, para. 1, LPP ¹ .

¹ The commission is the supreme organ of PUBLICA. It is responsible for the management and monitoring and control of management.

² In particular, the Commission has the following tasks:

A.

Conclude and terminate membership contracts;

B.

Appoint management;

C.

Designating the supervisory body and the expert on occupational foresight;

D.

Approve the annual accounts;

E.

Take remedial action;

F.

Decide on the provision of provisions within the meaning of s. 8, para. 2;

G.

Decide on the establishment of common pension funds (Art. 7, para. 2);

H.

Designate the domestic appeal body referred to in s. 35, para. 1, LPers ¹ .

³ The Commission shall, in particular:

A.

Operating and organizing regulations;

B.

The principles of the risk management policy;

C.

Regulations on provisions and reserves;

D. ²

Investment regulations, including investment strategies (s. 15, para. 2);

E.

The data processing regulation (Art. 6, para. 4);

F.

The cost regulations;

G.

Regulation-type of foresight;

H.

The contract-type of affiliation.

¹ The Commission is composed of 16 members appointed for four years.

² The committee shall be composed equally. The number of representatives of employers and employees by contingency fund is determined on the basis of the share of the mathematical reserve of this fund in the global mathematical reserve of PUBLICA. At least one seat is the whole of the administrative units of the decentralised federal administration within the meaning of Art. 32 A , para. 2, LPers ¹ And all employers affiliated with the meaning of s. 4, para. 2, of this Act.

³ The representatives of employees shall be elected by the Assembly of Delegates.

⁴ Employers appoint their representatives. They may group together and designate common representatives.

⁵ Members appointed by employees and employers do not have to be insured with PUBLICA.

⁶ The committee itself is itself. It can draw on experts and set up committees, whose members are not required to sit in the committee.

¹ The Assembly of Delegates is composed of employees of affiliated employers. It elects the employees' representatives to the Commission.

² She can make proposals to the committee for anything related to PUBLICA.

³ It is informed each year of the business process by the Commission and the Directorate.

⁴ It consists of 80 members. The number of delegates for a given contingency fund is determined on the basis of the proportion of the mathematical reserve of this fund in the global mathematical reserve of PUBLICA. Provident funds may group together and designate common representatives.

⁵ Delegates are appointed for four years.

¹ Management manages the current affairs of PUBLICA. It shall participate in an advisory capacity in the meetings of the committee and its committees and may make proposals. She appoints the staff of PUBLICA.

² The management and the rest of PUBLICA staff are subject to the LPers ¹ They are insured with PUBLICA for their professional foresight.

¹ Capital shall be placed in accordance with the principles of risk management adopted by the committee and the corresponding investment strategies.

² The Commission defines a separate investment strategy for:

A.

The assets of the pension funds within the meaning of Art. 7, para. 1;

B.

The assets of the pension funds within the meaning of Art. 7, para. 3;

C.

Other elements of the fortune of PUBLICA, in particular provisions within the meaning of Art. 8, para. 2, and operating capital.

³ The income or losses resulting from the investment in wealth are distributed each year between the various Provident Funds and PUBLICA, depending on their share of wealth and investment strategy.

⁴ The joint body of each contingency fund shall determine the allocation of the income which the credit union has after supply of its provisions and reserves. For pension funds within the meaning of s. 7, para. 3, the committee shall decide instead of the joint body.

¹ PUBLICA manages the pension funds according to the principle of the closed balance sheet.

² A contingency fund may derogate from the closed balance sheet principle if the Confederation, a canton or a municipality guarantees the payment of benefits.

¹ PUBLICA maintains separate accounts for each of the contingency funds that are affiliated to it.

² If a contingency fund consists of several employers, PUBLICA may keep separate accounts for employers who request it. The additional costs incurred by employers are borne by employers.

³ Provisions within the meaning of s. 8, para. 2, are brought to the record of PUBLICA.

¹ On the entry into force of this Law, the provision of free passage according to the LFLP ¹ Is credited to policyholders in the form of a one-time payment.

² At the entry into force of this Law, an opening balance sheet shall be established for PUBLICA and for each of the contingency funds. It indicates the assets, liabilities, reserves, provisions and free funds.

³ Disability annuities that arose under the former right, as well as related regulatory supplements, are taken up as is. If the benefit conditions change after the transfer, the benefit entitlement is assessed according to the provisions in effect at that time.

⁴ Insured persons whose rights are governed by s. 71, para. 1, of the Order of August 24, 1994 governing the Federal Pension Fund (PSC Statutes) ² Retain these rights after the new right comes into force. If the mathematical reserve is not sufficient to finance the benefits payable at the time of retirement, the employer concerned shall pay PUBLICA the missing amount. For this purpose, it may use its employer contribution reserves.

¹ The Confederation takes its share of the technical overdraft contained in the final statement issued by the Federal Pension Fund (PSC) as at 31 May 2003, namely 11,935,517,302 francs.

² The affiliated organizations transferred from the PSC to PUBLICA are charged with their frozen technical discovery, fixed during the period of validity of the PSC's statutes ¹ . Organizations outside the PSC before 1 ^Er June 2003 is not charged with any other technical discovery other than the frozen technical discovery at the time of the release. The special standards for the assumption of the missing mathematical reserve by the employer are reserved.

³ The Confederation may take over all or part of the technical discovery due by an organisation affiliated with PUBLICA which is particularly close to it if the payment has serious financial consequences for that organisation. The Federal Council shall lay down the conditions, limits and arrangements for the taking of care.

⁴ Employers released from the PSC before 1 ^Er June 2003 for which no frozen part of the technical discovery has been fixed during the period of validity of the statutes of the PSC are not debtors of any other technical discovery than the technical discovered due calculated at the time of the exit, Pursuant to s. 59, para. 3, of the PSC's statutes. The special standards for the assumption of the missing mathematical reserve by the employer are reserved.

¹ Until 31 May 2008, the Confederation reimburses its debts on the technical overdraft within the meaning of Art. 19, para. 1.

² The debts on the technical discovery of organisations affiliated with PUBLICA shall be repaid within a time limit fixed by contract with PUBLICA, which shall not exceed eight years from the entry into force of this Law.

³ The Confederation reimburses debts on the technical overdraft taken in the case of serious financial consequences within the meaning of Art. 19, para. 3, within five years of the partial or full approval of the application.

⁴ The debts on the technical overdraft bear interest at the rate of technical interest applicable to insured persons.

⁵ The burden on the Confederation for the repayment of the debt on the technical overdraft is borne by the balance sheet; it is amortised in the following years in the results account.

¹ Subject to para. 2, are deleted retroactively the guarantees provided for in the opening balance sheet of PUBLICA that the Confederation would take over the missing mathematical reserve:

A.

In the event that PUBLICA fails to recover from the judicial process its claims to affiliated organizations at the time of retirement of women benefiting from the guarantee of rights under s. 74 of the Insurance Ordinance of 25 April 2001 in the Basic Plan of the Federal Pension Fund ¹ ;

B.

In the event that the new provisions on voluntary early retirement cannot enter into force on 1 ^Er January 2005: until their entry into force, but no later than the expiry of a possible transitional period;

C.

In the event that a right to a provision of foresight which arose prior to the transfer would have been confirmed by an enforceable judgment in favour of PUBLICA or the Confederation, in particular in the case of a trial that would have been in progress at the time of the Transfer.

² The guarantee of Confederation within the meaning of para. 1, let. C, continue to apply to large financial disputes. Such judgments shall be deemed such judgments which, because of their previous character, require the adaptation of insurance conditions and which, by virtue of the amount of the missing mathematical reserve or of the work generated within PUBLICA by the adaptation of the Conditions of insurance, result in extraordinarily high costs.

The Confederation pays PUBLICA a single amount of 10 million francs to finance the initial operating costs necessary for the creation of PUBLICA at 1 ^Er June 2003.

¹ The Confederation shall pay PUBLICA, in the form of a one-time payment, the amount necessary to fill the technical discovery arising on the day of the entry into force of this Act of the reduction referred to in para. 3 of the rate of technical interest applicable to the beneficiaries of annuities defined in para. 2.

² The beneficiaries of annuities shall be made up of beneficiaries of old-age, invalidity or survivors whose annuities started before the entry into force of this Law, including beneficiaries of annuities who remained affiliated with The PSC while their employer has left it before 1 ^Er June 2003 (closed staff of annuities).

³ The technical interest rate is lowered to 3 per cent for the closed staff of annuities and 3.5 per cent for all other beneficiaries of annuities.

⁴ The amount owed by the Confederation under para. 1 is reduced by the amount of the provision created by PUBLICA for the closed staff of beneficiaries of annuities.

⁵ PUBLICA distributes the single payment of the Confederation between the various pension funds, in proportion to the various rates of technical interest (par. 3) and the mathematical reserve of their beneficiaries of old-age, invalidity and survivors' annuities.

⁶ The Confederation is not responsible for making this single payment any employer obligation in respect of the number of beneficiaries of annuities in the sense of para. 2, in particular with respect to the closed staff of beneficiaries of annuities. Its employer obligations with respect to its own beneficiaries of annuities (art. 32 B , para. 1, LPers ¹ ) Are reserved.

¹ A contingency fund is managed for each closed staff of beneficiaries of annuities; the establishment of common provident funds is possible. The committee shall act as a joint body. In the event of the transfer of beneficiaries of annuities to the Provident Fund of the Confederation within the meaning of para. 4, the joint body of the latter takes up this function.

² The dissolution of the Provident Fund of a closed staff of beneficiaries of annuities shall be governed by the principles applying to the total liquidation. The contingent surplus shall be allocated to the remaining funds in proportion to their technical reserve.

³ If the last pension fund of the closed staff of annuities no longer has a beneficiary of annuities and there remain free funds after its dissolution, they shall be allocated to the Provident Fund of the Confederation.

⁴ The Federal Council may prematurely dissolve the closed staff of beneficiaries of annuities and transfer to its Provident Fund the remaining persons and the wealth of foresight available. Even in this case, former employers remain responsible for the financing of a possible extraordinary adaptation to higher prices.

All insured persons who have attained 55 years of age but not yet 65 at the time of entry into force of this Act are entitled to a static guarantee of the acquis representing 95 % of the old-age pension that they would have received at the age of 62. The old right, but at least to the old-age benefits provided for in this Act. If voluntary early retirement occurs before the age of 62, the guaranteed right is actuarially reduced. PUBLICA supports the costs arising from the guarantee of the acquis.

¹ The Employer and its employees shall appoint their representatives to the Joint Body before the entry into force of this Law.

² The joint body formed in accordance with para. 1 shall take the necessary measures to ensure that the contract of affiliation and the rules of foresight may take effect upon the entry into force of this Law.

³ The former Board of the caisse within the meaning of the Act of June 23, 2000 on the PSC ¹ Shall take the necessary decisions before the entry into force of this Law. The Commission within the meaning of this Law shall be established within one year of the entry into force of this Law. Until the establishment of this commission, the former Board of the caisse assumes the tasks set out in s. 11 of this Act.