Where do we stand in the meantime?
The social partners (employer and Capgemini Works Council) reached an outline agreement early this year on the outline of the new scheme for Capgemini employees participating in the fund (not former Altran).
This contains a number of points and on the basis of these, the scheme will be fleshed out. Among others:
- A so-called Flexible Premium Scheme has been chosen. A scheme with which participants are already familiar from 2016, because our scheme already has its main features. For example, a visible premium accrual for each individual participant.
- For new members, an equal percentage of pensionable salary will be deposited from the intended time of entry. Regardless of the participant's age. As also provided in the new law.
- Under the current scheme, a percentage of pensionable salary is paid in that increases with age. This will continue, in accordance with the agreement between the Employer and Works Council, for all current employees. Invoking the so-called Respective Effect.
- A planned transition date of 01-01-2026.
The social partners are also investigating the possibility of transferring the future scheme outside the current fund.
For any questions about this, if you are still employed by Capgemini, please contact the employer. After all, the employer (together with the Works Council) is responsible for the choice of the scheme (incl. further details) plus communication about this to Capgemini employees. The fund also communicates with former participants and pensioners.
What does this mean for the future?
For the fund, now is the time to consider the future of the existing plan(s) and the fund itself. After all, if premium accrual can continue elsewhere starting in 2026, the fund will become a closed fund. A closed fund is a fund where no more contributions come in, but the available capital is managed to make pension payments. Since a significant portion of the fund's costs are covered from incoming contributions, a closed fund must cover costs from its available capital.
Respective Operation
The choice of Respective Operation may become an impediment to the incorporation of the current plans as intended in the new law. How to deal with this we are now exploring in consultation with our regulator(s) and advisors. If it is not possible to incorporate, another solution will be sought that does balanced justice to the interests of the fund's participants. Incidentally, balance is an important criterion for all of the fund's decisions, and this is closely monitored by internal and external supervisory bodies. It is our intention (and that of the legislature) to convert the current arrangements to the new system as far as possible, assuming it is more efficient. Therefore, there is no need to maintain a closed fund with costs covered from capital.
Future scenario
The possible future scenarios the fund is now sorting out with the employer and social partners. Each from their own responsibility. After all, the fund has its own responsibility for the rights and capital accrued up to the transition date. The interests of all participants in the fund are being considered: those already enjoying their pensions, former employees who have not yet retired and also current Capgemini employees.
As soon as follow-up steps are known, we will notify you.