Facts
[G.] terminated his position as Director of the Zurich Investment Bank after 24 years of service, which has been in liquidation since 15 August 1978. In December 1978, he requested the Employee Welfare Foundation of the Investment Bank to transfer his balance to a life insurance company, which the Foundation refused. [G.] died on 31 December 1979 without a settlement having been reached with the Foundation. His widow, Mrs. [G.], renounced the inheritance. Mrs. [G.] then sued the Employee Welfare Foundation for payment of CHF 378,422 plus interest.Considerations
The Federal Supreme Court decided that [G.] as an employee had concluded a genuine contract for the benefit of a third party pursuant to Art. 112 para. 2 CO with the Employee Welfare Foundation, under which benefits were to be provided to the surviving dependents in the event of death. This claim passed on to Mrs. [G.] independently of her renunciation of the inheritance. The Foundation could not avoid its obligation to provide benefits by delaying the payout until the employee's death, as this would contradict the purpose of the law on employee welfare.
Pursuant to Art. 331c CO, the Foundation could only fulfill its obligations towards [G.] and Mrs. [G.] by establishing a claim for future pension benefits. An exceptional case that would…