Facts
The case concerns a partial liquidation of the Pension Fund A., which until the end of 2005 was a joint foundation with 182 affiliated employers. In 2005, it was converted into a collective foundation and switched from a defined benefit to a defined contribution plan. X. AG and Y. AG then terminated their affiliation agreement with the pension fund at the end of 2005.
Differences arose between the employer companies and the pension fund regarding the applicable legal basis and the calculation of the capital to be transferred. The employer companies and their active and passive insured persons challenged the distribution plan of the partial liquidation with the Federal Social Insurance Office (BSV).
The BSV dismissed the appeals and approved the distribution plan. The Federal Administrative Court partially overturned the BSV's decision and referred the matter back to the competent supervisory authority to draw up a new distribution plan.
Both the pension fund and the employer companies then appealed to the Federal Supreme Court.
Considerations
The Federal Supreme Court first affirmed the employer companies' right to appeal. It found that the 2005 Partial Liquidation Regulations were generally applicable, as they had been approved by the BSV and the legal requirements were met.
Regarding the question of whether a reduction of the actuarial reserve of the retiring annuitants in accordance with Art. 2.3.3 para. 3 of the 2005 Partial Liquidation Regulations is lawful,…