1. CERN Pension Fund Emilie Clerc Benefits Service

2. 1 Summary 1) The Fund Purpose Members Resources 2) Benefits Retirement Disability Surviving Spouse Orphans Transfer value

3. 2 The Fund

4. 3 Reference salary * Staff members Basic salary x Coefficient C Ex.: Bb.0 (basic salary = 6’128 CHF) Coefficient C (Annexe A of the Rules and Regulations of the CERN PF) * Pensionable salary

5. 4 Reference salary * Fellows 5’948 CHF * Pensionable salary

6. 5 Reference salary

7. 6 Purpose To insure its members and beneficiaries against the economic consequences of: old age disability death

8. 7 Members CERN staff members CERN fellows ESO (European Southern Observatory) International Staff Members

9. 8 Resources contributions from CERN and ESO contributions from the members income from the investment of assets transfers from other schemes

10. 9 Contributions Organization: 22.67% Member: 11.33% of the member’s reference salary

11. 10 Investments Strategic allocation (example) Equities:34% (25% - 45%) Bonds:37% (30% - 45%) Real-Estate:15% (10% - 20%) Cash/diversifying assets:14% (10% - 20%)

12. 11 2009 results Global performance:13.5% Net assets:3.9 billion CHF

13. 12 Transfers from other schemes The purpose: To put back the effective date of entry to an earlier date.

14. 13 Benefits

15. 14 Retirement Pension The official retirement age is 65 Pensions are calculated on the basis of 2% of the last reference salary per year of membership (minimum 5 years; maximum 35 years)

16. 15 Disability Pension Paid to a member whose disability is recognised by the Organization Equal to the retirement pension the member would have received at 65 It can be total or partial

17. 16 Surviving spouse Pension Paid to the spouse of a member whose marriage dates from at least 1 year Equal to 1.1% of the last reference salary per year of membership until the age of 65

18. 17 Orphans’ Pension Equal to : - 24%* for 1 orphan - 34%* for 2 orphans - 40%* for 3 orphans… *of the member’s reference salary

19. 18 Transfer value Equal to: - 14.7% of the last reference salary for the first 10 years of service - 22% of the last reference salary for each further year of service

20. 19 1 st scenario Less than 5 years of service 1.the transfer value can be paid into another pension scheme 2.the transfer value can be paid to the member

21. 20 2 nd scenario Between 5 and 10 years of service 1.the member is entitled to a deferred retirement pension 2.the transfer value can be paid into another pension scheme 3.if the latter is not possible, the transfer value can be paid to the member

22. 21 3 rd scenario More than 10 years of service 1.the member is entitled to a deferred retirement pension 2.the transfer can be paid into another pension scheme

23. 22 Other information Web site : http://pensionfund.cern.chhttp://pensionfund.cern.ch - Rules and Regulations of the CERN Pension Fund - Financial statements Annual General Meeting Emilie Clerc (5/5-017) tel.: 78798 pension-benefits@cern.ch