The Board of Trustees already decided last year to introduce a participation model for retirement and retirement partner pensions. The Board of Trustees considers the current timing of the introduction to be ideal, as our pension fund has sufficiently high fluctuation reserves. The participation model is based on the following key criteria:

• Not all retirement years have contributed equally to the accumulation of the fluctuation reserves. It is therefore necessary to look at each retirement year individually. The retirement year is the time of retirement.

• A so-called interest barometer is defined for each retirement year. This is calculated on the basis of the performance development of the pension fund, the amount of interest on the retirement assets during 5 years before retirement and the amount of the interest promise from the conversion rate.

• If this interest barometer is positive, there is an entitlement to a one-time additional capital. The main beneficiaries of such a credit are those pensioners who, as active insured persons, had a low interest rate on their retirement assets compared with the investment performance during the start-up phase of the pension fund and thus made a significant contribution to building up the value fluctuation reserve.