BKW : pension fund changes benefit plan

The transition from a Swiss benefit plan to a Swiss contribution plan will have a positive effect on the stability of BKW's pension fund. This effect will benefit both employees and member companies equally. Employees and member companies will continue to contribute the same total amount in future; there will be no resulting reduction in benefits for the insureds.

The one-off positive accounting effect is due to the application of the international IFRS accounting standards and will have an impact on the operating profit in the double-digit millions. This is a one-off, non-cash effect resulting from accounting recalculations relating to the defined benefit obligations, which are lower for a Swiss contribution plan than for a Swiss benefit plan, as determined by the system.