Legal basis

Laws

Section Two: The Old-Age and Survivors’ Insurance Social Security Fund

Art. 107 Creation
1 A fund shall be established under the name "old-age and survivors’ insurance social security fund" (OASI social security fund), to which all income pursuant to Article 102 shall be credited and all benefits pursuant to Section 3 of Part 1, the subsidies pursuant to Article 69(2) of this act and the expenditure resulting from recourse pursuant to Articles 72–75 of the ATSG shall be debited.
2 The Confederation pays its contribution monthly to the OASI social security fund.
3 As a rule, the OASI social security fund may not fall below the amount of one year’s expenditure.

Art. 109 Administration
The administration of the OASI social security fund is governed by the Social Security Funds Act of 16 June 2017.

Section Two: The Invalidity Insurance Social Security Fund

Art. 79 Creation
1 A fund shall be established under the name "invalidity insurance social security fund" (InvI social security fund), to which all income under Article 77 shall be credited and all expenditure under Articles 4–51, 66–68quater and 73–75 of this act, as well as expenditure resulting from recourse under Articles 72–75 ATSG shall be debited.
2 The balance of liquidity and investments of the social security fund shall not normally fall below 50 percent of an annual expenditure.

Art. 79a Administration
The administration of the InvI social security fund is governed by the Social Security Funds Act of 16 June 2017.

Art. 28 The Social Security Fund for the Loss of Earnings Compensation Scheme
1 A fund shall be established under the name "social security fund for the loss of earnings compensation scheme" (LEC social security fund), to which all income and benefits based on this act shall be credited or debited.
2 The balance of liquidity and investments in the social security fund shall not normally fall below 50 percent of an annual expenditure.
3 The administration of the LEC social security fund is governed by the Social Security Funds Act of 16 June 2017.

The Social Security Funds Act establishes the public law institution "compenswiss (Social Security Fund OASI/InvI/LEC)" for the administration of the OASI, InvI and LEC social security funds, which is entered in the commercial register as an independent legal entity. The Social Security Funds Act covers following areas: legal form, seat, task, asset management, legal transactions, liability, organisation, personnel, accounting, administrative expenses, annual report, taxes and supervision.

https://www.fedlex.admin.ch/eli/cc/2017/820/en

Ordinances

The entry into force of the Social Security Funds Act took place in two steps: On 1 January 2018, the Federal Council issued the Ordinance on Preparations for the Initial Phase of Operations of compenswiss, thereby creating the organisational requirements for the commencement of operations. In particular, it defined the seat of the new institution, the competences of its bodies during the transitional phase and the accounting standards. The start of operations came into force with a second decision of the Federal Council on 1 January 2019, together with the remaining articles of the Social Security Funds Act.

https://www.fedlex.admin.ch/eli/cc/2017/821/en

Regulations

In addition to the provisions of the Social Security Funds Act, the Organisational Regulations, issued by the Board of Directors of compenswiss and approved by the Federal Department of Home Affairs (FDHA), lay down the framework for the organisation and the conduct of business as well as the tasks and responsibilities of the Board of Directors and its committees, the Executive Committee and the Internal Audit of compenswiss.

The Investment Regulations, issued by the Board of Directors of compenswiss, set out the objectives of asset management and define the relevant guidelines, in particular with regard to the investment strategies, the authorised financial instruments, any limits and restrictions as well as monitoring and reporting. They also contain the organisational structure as well as the tasks and competences of the bodies regarding asset management.

Since 2002, compenswiss exercises the voting rights for the Swiss shares it holds, systematically and in accordance with the regulations issued by the Board of Directors. It publishes a summary of its votes on its website and in its annual report.

The Regulations on Private Financial Transactions are intended to ensure that the private transactions of members of the Board of Directors and employees of compenswiss are conducted in compliance with all legal and regulatory requirements and that the interests and reputation of the institution are safeguarded.

The Code of Ethics and Conduct sets out the principles and values for members of the Board of Directors and employees of compenswiss which are to be observed in order to preserve and strengthen the good reputation of compenswiss and to promote the optimal fulfilment of its mission.

Further information

OASI/InvI/LEC: Federal laws and ordinances