CPIC in a nutshell

The purpose of the Fund is to help protect active beneficiaries, who are referred to below as “the beneficiaries”, and their heirs against the economic consequences of old age and death.

Membership of the Fund shall be open to all conference interpreters, who are beneficiaries of AIIC (International Association of Conference Interpreters) or who work for the organisations with which AIIC has concluded an agreement, i.e. the Agreement Sector (EU, European Coordinated Organisations, United Nations Organisations, OMD, Interpol, GUFs). The Foundation Board may, however, admit as beneficiary of the Fund any interpreter, who, even though not meeting the above conditions, presents the required proof that he or she exercises the profession of conference interpreter.
CPIC automatically passes on to its beneficiaries the entirety of investment proceeds, after deduction of overheads

Beneficiaries are not obliged to pay in contributions at fixed dates

Advantage: When a beneficiary no longer works for a certain period of time or changes profession, he or she is not obliged to pay in contributions. The capital in his or her name still continues to accrue.

As of the age of 60, beneficiaries may withdraw the capital that has accrued in their name, but in this case they are obliged to resign from the Fund

On reaching the age of 70, beneficiaries are obliged to withdraw the capital that has accrued in their name

Thus, beneficiaries can withdraw their capital at any time between the age of 60 and 70.

Before reaching the age of 60, beneficiaries can recover their capital, i.e.: the “interpreter’s” share of contributions, and their personal contributions, if any. This, however, entails losing the status of beneficiary of the Fund. The “employer’s” share of contributions must be transferred to an authorised pension scheme. Resignation only takes effect on the date at which the “employer’s” share of contributions is transferred to the authorised pension scheme.
CPIC is a provident fund, accredited and granted tax exemption by the Canton of Geneva’s Finance and Taxation Department. The Fund complies with Swiss legislation on Professional Pension Funds as a whole and in particular with all its provisions relating to financial investments; this guarantees the security of beneficiaries’ assets.

The Fund is also subject to the supervision of the State of Geneva. CPIC’s holdings are in Euros, the currency of the large majority of beneficiares’ country of residence..

The Fund’s assets are managed in three separate portfolios or segments:

the growth segment in euro (Segment A) geared to long-term performance

the conservative segment in euro (Segment B), to which beneficiaries can subscribe as of the age of 55, if they so wish, geared to preserve their retirement capital by protecting them as far as possible against the risk of short-term volatility of stock markets

the growth segment in Swiss francs (Segment C) geared to mid-term/long-term performance

The share is the unit which measures CPIC’s capitalisation.

CPIC enjoys tax-exemption from direct Federal, Cantonal and Communal taxes, which means that all monies paid into and invested by CPIC are not taxed in Switzerland for as long as they remain invested.

CPIC offers its beneficiaries a group insurance scheme with death and disablement benefit, or disablement benefit only and an annuity scheme.

The Foundation Board is composed of 5 elected officers: 4 beneficiaries and the President. The Board is responsible for, amongst other things, administering the Fund and supervising its financial management.
The General Assembly of the beneficiaries is the supreme body of the Fund; it meets at least once a year.
Lombard Odier Asset Management (Switzerland) SA, Geneva

Vontobel Asset Management AG, Zurich

Lombard Odier & Cie SA, Geneva

PricewaterhouseCoopers SA, Geneva
CPIC encourages its beneficiaries to take an active interest in the workings of their Fund and wishes to remind them that the Foundation Board Members are there to help. Do not hesitate to contact them.