Partial liquidation of the Vita Invest Collective Foundation and retirement pension fund

Partial liquidation at the Foundation level

Pursuant to Art. 53b of the Federal Act on Occupational Old-Age, Survivors’, and Disability Pension Plans (BVG), the conditions for a partial liquidation are presumed to be met if:

• the workforce is significantly reduced;
• a company is being restructured;
• an affiliation contract is terminated.

In 2025, two major affiliation contracts were terminated. These terminations mean that the conditions for a partial liquidation have been met at the level of the Vita Invest Collective Foundation. The Foundation Board noted this in its resolution of June 4, 2026.

Partial liquidation of the retirement pension fund

According to Article 2.4b of the Partial Liquidation Regulations dated January 15, 2020, which is available on vita.ch (only in German) a partial liquidation of the retirement pension fund occurs when:

• at least ten retired employees leave the Foundation as a result of the complete liquidation of an employer's pension fund, or
• as a result of the restructuring of an employer's pension fund, at least ten retired employees transfer to another pension plan.

Due to the large number of contract terminations, more than ten retired employees have left the retirement pension fund. On June 4, 2026, the Foundation Board therefore determined that the retirement pension also met the criteria for a partial liquidation.

Rights of the insured persons

In the event of a partial liquidation, the insured persons under the terminated affiliation contracts, as well as pension recipients of the pension fund, generally have an individual right to any available unrestricted assets.

At the Vita Invest Collective Foundation, the collective assets (value fluctuation reserves and provisions) are transferred directly to the individual employer's pension fund and are transferred along with employees when they leave.

At the Foundation level, only the aggregated values are depicted. In addition to the foundation capital provided by the founder, the Foundation has CHF 7,093.02 in unrestricted foundation assets. According to paragraph 2.3 of the Partial Liquidation Regulations, in the case of individual withdrawals, there is no distribution of unrestricted assets if:

• they amount to less than 5 percent of the retirement savings capital as of the balance sheet date of the partial liquidation, and
• total less than CHF 1,000 on average per insured remaining in the employer's pension fund.

These requirements have been met. Accordingly, there is no distribution of unrestricted assets at the Foundation level.

In the retirement pension fund, the value fluctuation reserves and unrestricted assets (pension accounts) have already been individually allocated to pension recipients and were transferred to them upon their departure from the fund. Apart from the actuarial reserves for pension recipients, the retirement pension fund has no collective unrestricted assets. Therefore, no distribution of unrestricted assets should be made at the level of the retirement pension fund either.

Access to documents

For 30 days from the date of publication, interested parties may review additional documents (in particular, the relevant financial statements and distribution plan). Contact person: Manuel Gerhard, phone +41 44 628 26 96, manuel.gerhard@zurich.ch.

Objections

Within the same 30-day period, written, substantiated objections to the terms of the two partial liquidations, as well as to the proceedings and the distribution plan, may be filed with the Foundation Board.

Vita Invest Collective Foundation of
Zurich Life Insurance Company Ltd
Manuel Gerhard
P.O. Box
CH-8085 Zurich

Objections will be answered in writing after the consultation period has come to an end. Once the deadline has passed, the supervisory authority will provide information on any objections received and, if applicable, on how they were resolved. If no objections are received or if any such objections are resolved by mutual agreement, the distribution plan will be implemented.

Questions

If you have any questions regarding partial liquidation at the Foundation level, partial liquidation of the retirement pension fund, or the distribution of unrestricted assets, please contact the following office: Manuel Gerhard, phone +41 44 628 26 96, manuel.gerhard@zurich.ch