Conditions of Employment and Fringe Benefits at Internal Services Switzerland 1

Conditions of employment and fringe benefits at Internal Services Switzerland 1

Working hours and periods defined in the contract Salary and allowances of employment Principles of remuneration Normal working hours Remuneration is based on function, performance and The working hours amount to 42.5 hours per week. market conditions. Salary adjustments will be based on regular performance appraisals within the frame- Working time models work of the system for assessing competencies and the The basic principle of flexible working hours applies. achievement of objectives, as well as market observa- Various working time models make it possible to tions. organise the daily work in a flexible way and achieve an improved work/life balance. Salary payment The annual salary is paid in 13 monthly instalments for Holidays employees and members of management and 12 monthly The holiday entitlement depends on age and seniority: instalments for members of senior management.

up to from Bonus age 49 age 50 A bonus can be paid in addition to the annual salary, Employees 25 days 27 days depending on the success of the company, the Management 27 days 30 days achievement of the organisational unit’s objectives and the individual’s performance. Senior Management 27 days 30 days

Family allowances Young employees (up to age 20) and employees under Family allowances are based on the legal stipulations. an apprenticeship contract have a holiday entitlement of 27 days. Long-service awards Service anniversaries are celebrated in five-year cycles: Maternity and paternity leave ɬɬ12.5 % of the monthly salary in each case, but at Swiss Life grants a maximum maternity leave of six least CHF 1000 per occasion and an additional day’s months, of which at least 16 weeks must be paid leave. holiday in each case Fathers receive five days’ paid leave when their wife/ or partner gives birth. ɬɬ5 days additional holiday during the service anniversary year Probation period The probation period is three months. Reimbursement of expenses Expenses will be reimbursed in accordance with the Periods of notice regulations governing expenses approved by the Zurich The notice period during probation is seven days, during tax office. the first year of service two months and from the second year of service three months; for employees from the fif- tieth year of age and for members of senior management the notice period is six months from the second year of service.

Effective as of January 2017 1 In some cases, separate guidelines apply for members of senior management, trainees, apprentices, employees on hourly wages and sales force employees Social benefits Contributory salary Continued payment of salary The contributory salary is the annual salary, minus the If the employee is unable to work through no fault BVG coordination offset (7/8 of maximum AHV of their own as a result of illness or accident, Swiss Life pension). The coordination offset is adjusted accordingly continues to pay 100 % of the salary from the 1st to for part-time employees. the 90th calendar day and 80 % of the salary from the 91st to the 730th calendar day at most, provided that Employee and employer contributions to the the employment relationship lasted longer than three pension fund months or was entered into for more than three Employees can choose their contribution from three months. possible plans, basic, standard and top. The employer contribution remains the same, regardless of the Accident insurance (UVG) contribution level chosen. Through occupational and non-occupational insurance, all Swiss Life employees receive worldwide insurance The amounts are fixed as a percentage of the contribu- cover (as a private patient) from their first day at work. tory salary, as follows: Swiss Life pays the total premium. BVG age Employee savings Employer savings Short-term disability insurance (KTG) contribution and risk Employees are automatically insured upon joining Standard plan contribution Swiss Life, provided that they are fully capable of working. The short-term disability benefit insurance 18 – 24 0 % 6.0 % covers loss of earnings within the scope of the 25 – 34 5.7 % 13.9 % employer’s obligation to continue paying a salary. 35 – 44 7.9 % 18.5 % Swiss Life pays the total premium. 45 – 54 10.2 % 23.0 % 55 – 62 10.2 % 28.7 % Pension fund Admittance to pension fund 63 – 65 7.9 % 18.5 % Admittance to employee benefits will take place upon 66 – 70 5.7 % 7.9 % commencement of the employment relationship, but not earlier than 1 January following the 17th birth- day, provided the annual salary exceeds the entry Pension benefits threshold of 6/8 of the maximum AHV retirement pen- The risk benefits (disability, death) are insured depending sion. For part-time employees, the entry threshold on the contributory salary. The amount of retirement is reduced in accordance with the level of employment. benefits is calculated according to the defined contribution principle and depends, on the one hand, on the Exclusions accumulated retirement savings and, on the other, on If a health impairment exists at the time the employ- the conversion rate. ment relationship begins, the pension fund may impose limitations for pre-existing conditions for a maximum period of five years for the portion of the employee benefits which exceeds the BVG benefits. Discounts 2 Services 2 Swiss Life encourages its staff to make private Meals pension arrangements by contributing to premiums The staff restaurants are run by well-known corporate for premium-funded life insurance concluded with catering companies and offer a varied range of menus Swiss Life for pillar 3a and/or 3b coverage. based on modern nutritional principles

Subsidies are available for all traditional and unit-linked Meals allowance life insurance products funded by periodic premiums, Full-time employees (excl. members of senior manage- with the exception of ProtectEasy. A favourable industry ment) receive CHF 150 per month as a contribution standard risk assessment is required for conclusion of to the costs of lunch. For part-time employees, the insurance. the amount is reduced to correspond to the level of employment. The premium subsidy in any one calendar year amounts to a maximum 5.5 % of the annual salary, but no more Commuter subsidies than CHF 7 700, and no more than 65 % of the annual Swiss Life supports all employees who use public trans- premium in any case. port to travel to work, granting employees a reduction of up to 35%, up to a maximum of CHF 630 (Zurich, Example of calculation Lausanne and Lugano public transport systems, annual pass, SBB Generalabonnement [annual rail/public CHF 1000 Annual premium transport pass]). CHF 650 Swiss Life pays 65 % of the premium up to a max. of 5.5 % of the annual salary, Child and family care but no more than CHF 7 700. Employees are assisted in their quest for work/life CHF 350 35 % or the remaining amount is paid by balance. An external provider offers comprehensive the employee. advisory and placement services for child and family care, as well as home care.

Preferential terms 2 Sports club and fitness centre Swiss Life employees benefit from various preferential The sports club gives employees and their family mem- terms for: bers the opportunity to enjoy sports along with other enthusiasts, to recharge their batteries, to build and Swiss Life maintain relationships with their colleagues, and to ɬɬsingle premium insurance (3rd pillar) make friends. Whether you’re a serious competitor or ɬɬInvestment products just like the fun of taking part, the club’s aim is to ɬɬCustomised financial planning offer a wide range of sports in 14 different sections to ɬɬmortgages accommodate everyone’s interests. ɬɬSwiss Life Immopulse – selling your own property The indoor fitness centre at the Zurich-Binz location Further preferential terms offers a wide range of sports activities which can be ɬɬUBS tailored to individual requirements. ɬɬReka-Checks (not for senior management) ɬɬSanitas health management ɬɬVarious property and legal expenses insurance (e. g. Mobiliar, Vaudoise, DAS)

2 Discounts, preferential conditions and services only become valid after the end of probation period, unless otherwise agreed. Social Care Consulting Development opportunities Swiss Life respects and protects the personal integrity Maintaining employability and cultivating personal of its employees, pays due regard to their state of health development and associated career prospects are consid- and creates a climate of personal respect and trust. ered the joint responsibility of the employer and the Employees engaged in a normal activity whose ability employee. Swiss Life promotes and supports its staff in to perform tasks is temporarily or permanently limited their efforts to gain further professional competencies for psychological or physical reasons receive the support based on the operational necessity of the training and of Social Care Consulting upon entry into the position the employee’s skills and position. and/or reintegration into the work process. Plan of action and professional reorientation Staff committee Together with its internal and external social partners, The staff committee represents the professional inter- the Swiss Life Group in Switzerland put together a ests of Internal Services employees in liaison with plan of action, which came into effect on 1 January 2005 Swiss Life and serves as a consulting, mediation and until further notice. The purpose of this plan is to arbitration body for staff with personal issues or prob- circumvent, insofar as possible, dismissals due to struc- lems in the current work environment. Moreover, tural reasons and, in cases where job reductions are the staff committee promotes mutual trust and good unavoidable, to organise internal and external profes- relations between the Corporate Executive Board and sional reorientation measures which are socially employees. responsible and individually tailored.

Swiss Life Ltd Human Resources Internal Services General-Guisan-Quai 40 P. O. Box, 8022 Zürich

01.2017 [email protected]