Dear employees

We are pleased to give you an update about the pension fund:

Definitive interest on retirement assets 2020

The Bayer Pension Fund shows an investment performance of 2.6% as of 3.12.2020. In view of the dramatic slump in March/April 2020, this is a pleasing achievement. Based on this performance and a coverage ratio of around 119%, the Board of Trustees decided at its meeting on 7.12.2020 to pay an interest of 2.0% on the retirement assets in 2020 (additional interest of 1.0%).

Outlook 2021

The reform of the supplementary benefits (EL reform) as of 1.1.2021 also entails changes in the occupational benefit scheme. This will result in the following significant adjustments to the pension regulations as of 1.1.2021:

• Employees aged 58 and over whose employment relationship has been terminated by their employer can continue to take out voluntary insurance with the pension fund. If required, please contact KESSLER VORSORGE AG for information on the various options to continue the insurance.
• Repayment of advance withdrawals for owner-occupied residential property: Such advance withdrawals can be repaid up to the time of retirement. In addition, the minimum amount for repayment is CHF 10,000.00 (previously CHF 20,000.00).

The new Pension Regulations 2021 are available on the homepage of the Bayer Pension Fund Switzerland.

IMPORTANT: Please note that in connection with retirement, the application for the lump-sum withdrawal of retirement benefits must be submitted three months before retirement. For planning your retirement, we would also like to refer you to the retirement checklist, which will provide you with helpful suggestions. This document is available on the homepage of the Bayer Pension Fund Switzerland.

Rental flats of the Bayer Pension Fund Switzerland

The Bayer Pension Fund Switzerland also invests in direct real estate and offers rental flats. Currently, four semi-detached houses in Riehen (ready for occupancy in March 2021), 11 flats in Itingen (ready for occupancy in August 2021) and 10 flats in Aesch (ready for occupancy in September 2021) belong to the Bayer Pensionskassen portfolio. More information can be found here.

If you have any questions, please do not hesitate to contact the pension fund experts or the members of the Board of Trustees.

We wish you all the best in 2021.

Best regards

Bayer Pension Fund Switzerland

Pascal Bürgin

President Board of Trustees

Roland Lüthold

Managing Director