Dear insured

Due to the restructuring within the framework of DSO and the associated reduction in personnel, we are legally obliged to carry out a partial liquidation of the pension. This email is to inform you of this formal measure, which currently has no impact on the retirement assets of employees, departing employees or pensioners.

The financial situation of the pension fund remains solid:

• The coverage ratio at the end of 2024 is approximately 116%.
• Since the target fluctuation reserve is 121.8%, there is no free funds which could be distributed to employees, departing employees or retirees.

What does this partial liquidation mean for you?

• Active employees: No changes. Your retirement savings remain unaffected by the partial\ liquidation.
• Leaving employees: No changes. Your retirement savings will be transferred in full to a new pension fund or vested benefits institution in accordance with the pension fund regulations. In the event of retirement/early retirement, the agreed or decided terms and conditions regarding pension/capital withdrawal remain in full force.
• Pensioners: No changes. Your pension will remain unaffected by the partial liquidation.

Process of partial liquidation:

• Inspection of relevant documents: We will now prepare the balance sheet and the partial liquidation report as of December 31, 2024 and have them audited by our auditing company PWC. These documents are expected to be available by mid-May. You will then have the opportunity to inspect the documents for 30 days.
• If you do not agree with the partial liquidation, you can raise objections in writing to the Board of Trustees within 30 days of receiving the documents.
• If no objections are received by the Board of Trustees within the deadline or if these can be resolved, the partial liquidation will be carried out and completed.

If you further questions please contact the Director of Bayer Pension Fund Switzerland (Roland Lüthold, Kessler Vorsorge, pk-bayer@kessler.ch).

We are happy to answer any questions you may have.

For the Board of Trustees of

Bayer Pension Fund Switzerland:

Pascal Buergin, President

Yves Windhäuser, Vice President