According to local law, autonomous pension funds bear the risks relating to the defined benefits. In the event of restructuring measures, the employer must pay an additional contribution alongside its normal contributions. Through the HUBER+SUHNER AG pension fund, HUBER+SUHNER AG provides pension benefits for its employees in the event of retirement, invalidity and death.
The leading body administering the fund is the Board of Foundation, which comprises an equal number of employee and employer representatives. The Board of Foundation establishes an Investment Committee, which is responsible for investing the funds held by the pension plan in accordance with the investment regulations defined by the Board of Foundation. All insured persons can claim their pension or part thereof in the form of either capital or retirement pension payments. HUBER+SUHNER AG also has two paternal foundations.
Most HUBER+SUHNER subsidiaries operate defined contribution pension plans. As a general rule, these involve employees and employer paying into pension funds administered by third parties. The HUBER+SUHNER Group has no payment obligations beyond these defined contributions, which are recognised as personnel costs in the profit and loss. The economic obligation recognised in the balance sheet for pension plans without own assets (mainly for a few retired executives) concern pension plans operated in Germany and the USA.
Nominal value | Waiver of use | Accumulation | Balance sheet | Income statement impact from ECR | ||||||||||
31.12.2024 | 2024 | 2024 | 31.12.2024 | 31.12.2023 | 2024 | 2023 | ||||||||
Employer contribution reserves1) | 18 299 | – | 386 | 18 299 | 17 913 | 386 | 11 | |||||||
Total | 18 299 | – | 386 | 18 299 | 17 913 | 386 | 11 | |||||||
1)The ECR are based on the annual reports of the paternal fund from the previous year. The economic benefits/economic obligations are assessed at each balance sheet date. In 2024 as well as in 2023, interest on the paternal fund of the ECR is recognised as financial income.
Funding surplus | Economic part of the organisation | Change from prior year with income statement impact | Change from prior year with no income statement impact | Contributions for the period | Pension costs within personnel expenses | |||||||||||
31.12.2024 | 31.12.2024 | 31.12.2023 | 2024 | 2024 | 2024 | 2024 | 2023 | |||||||||
Paternal fund1) | 61 786 | – | – | – | – | – | – | – | ||||||||
Pension plans with surplus1) | 47 883 | – | – | – | – | (9 427) | (9 427) | (9 314) | ||||||||
Pension plans without own assets | – | 1 349 | 1 419 | (18) | 88 | – | (18) | (98) | ||||||||
Total | 109 669 | 1 349 | 1 419 | (18) | 88 | (9 427) | (9 445) | (9 412) | ||||||||
1)The paternal fund and the funding surplus of the pension plan of HUBER+SUHNER AG are based on annual reports issued by the corresponding institutions for the previous year. The economic benefits / economic obligations are assessed at each balance sheet date.