Employee Pension Plans
The Migros Pension Fund (MPF) organises the occupational pensions of Migros Group's 43 associated companies based on performance. Some 54 000 active policyholders and some 27 000 pensioners are managed.
In light of the situation on investment markets, continuously low interest rates and increasing life expectancy, the Migros Pension Fund has adjusted its benefit plan as of 1 January 2012. But despite raising the retirement age from 63 to 64 years, reducing the benefit target from 74.1% to 70.2% of the insured wage and major cuts for early retirement, benefit payments are still above average. As such, the employer contribution continues to be 17%, while that of the employee is 8.5%. Migros assumes two thirds of the contributions at its expense and is therefore greatly above the Swiss average.