The CPIT in a nutshell
- Founded in 1970 by conference translators and interpreters
- Choice of retirement age
- Managed by specialized Swiss institutions
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The CPIT offers its members the possibility to receive a pension on retirement (in the form of a monthly or a lump-sum payment, or a combination of the two); disability benefits; widow/widower’s benefits for retirees’ spouses (or a partner’s pension for unmarried pensioners); and, should a member pass away before retirement, payment of the entire vested principal to his or her heirs.
It offers especially attractive conditions to members under the age of 30.
You can retire between the ages of 60 and 70, depending on your needs.
The CPIT is subject to the provisions of the Swiss legislation on pension funds, which allows full transfer of benefits to and from other Swiss provident institutions.
How the CPIT works
The Fund operates on the basis of capitalization rather than distribution, allowing it to discharge its financial obligations, irrespective of the number of members or the contributor/pensioner ratio. If its earnings permit, and if the requisite statutory reserves have been built up, the returns on its investments are entirely redistributed every year among members (including retirees already in receipt of their pensions).
All administrative, accounting and secretarial tasks are delegated to Swiss Life Pension Services SA, a firm specialized in pension fund management.
The CPIT’s portfolio is managed by two specialized Swiss asset management institutions (Pictet Asset Management and Crédit Suisse (Suisse) SA), under the supervision of Lusenti Partners Sarl, an independent investment adviser.
Investment policy is governed by the Swiss legislation on pension funds, which implies prudent, long-term management.
The CPIT is a foundation under Swiss law, managed by a Foundation Council made up of at least five members.