5 Other notes
5.1 Employee benefit plans
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CHF million |
Balance sheet 12/31/2022 |
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Balance sheet 12/31/2021 |
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Result in personnel expenses 2022 |
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Result in financial income 2022 |
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Result in personnel expenses 2021 |
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Result in financial income 2021 |
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Employer contribution reserves |
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Employer-funded pension fund Bystronic |
20.4 |
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21.7 |
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–1.2 |
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0.8 |
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There is no waiver of use of the employer contribution reserve. No pension fund contributions were offset against the employer contribution reserve in either the reporting year or the previous year. The change of CHF 1.2 million resulted from the negative performance on the assets of the employer contribution reserve which was allocated to the financial result. In the previous year, a positive performance of CHF 0.8 million was achieved.
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CHF million |
Surplus/ deficit 12/31/2022 |
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Economic benefit/ obligation 12/31/2022 |
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Economic benefit/ obligation 12/31/2021 |
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Currency translation effect/use 2022 |
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Change to prior year - affecting result 2022 |
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Contribu- tions to be allocated to reporting period 2022 |
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Current service cost in personnel expenses 2022 |
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Current service cost in personnel expenses 2021 |
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Economic benefit/ obligation and current service cost |
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Employer-funded pension fund |
3.0 |
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Pension funds without surplus/deficit |
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6.8 |
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6.8 |
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6.4 |
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Pension funds with deficit |
–0.6 |
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–0.6 |
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–0.6 |
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0.0 |
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0.8 |
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0.8 |
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0.5 |
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Total Bystronic |
2.4 |
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–0.6 |
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–0.6 |
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0.0 |
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7.7 |
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7.7 |
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7.0 |
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Total discontinued operations |
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1.5 |
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Total Group |
2.4 |
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–0.6 |
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–0.6 |
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0.0 |
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7.7 |
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7.7 |
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8.5 |
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In the previous year, the net surplus amounted to CHF 2.0 million and the contributions accrued for the reporting period amounted to CHF 7.0 million.
The reported surplus from free reserves of the employer’s pension plan is not intended for economic use by the group.
Accounting principles
The pension obligations of the group companies for retirement, death or disability are based on the regulations and practices applicable in the respective countries. Contributions are made on an ongoing basis. The income statement includes the pension and benefit payments and outstanding benefits during the accounting period and the regular contributions to the various pension funds. The private pension plans in Switzerland are designed to build up retirement assets with conversion into fixed retirement pensions and with supplementary risk benefits. The actual economic effects of pension plans on the company are calculated as of the balance sheet date. An economic benefit is capitalized if it will be used for the company’s future pension expenses. An economic obligation is recognized as a liability if the conditions for recognizing a provision are met. Separately existing, freely available employer contribution reserves are recognized as assets. The difference between the economic benefits and obligations determined each year and the change in the employer contribution reserve is recognized in the income statement.
5.2 Related-party transactions
As in the previous year, there were no transactions with related parties and companies at Bystronic in 2022.