Awarded Sustainable Pension Fund

Sustainability certification for severance-pay funds and company pension funds

Since 1^st of July 2002 , the law concerning company pension funds (BMVG) is in power, also generally known as “new custom clearance”. According to it, every employer has to pay 1,53% of the employee´s salaries into a specially founded provision-account (BVK), who´s role it is, to assess these funds for the very employees. Since November 2002 there is a total of 9 MVKs holding a concession, assessing these funds. Most pleasantly, most MVKs commit themselves towards ethical, social and ecological criteria. To evaluate the assessment-policies in detail, the OGUT-platform “Ethical-ecological Assessment” initiated an analysis for certification regarding sustainability issues.

Since 1^st Jannuary 2008, for self-employed persons there is as well the “new custom clearance”, the new freelancer-provision. It is obligatory for persons that are subjected to the obligatory insurance wihin the Social Insurance under the National Industrial Insurace Act (GSVG), as self-employed persons and freelancer. The employee´s provision cashes have in 2008 been renamed into company provision funds.

Some severance-pay funds arise as outriders in regard to the consideration of ethical, ecological and social criteria for assessing compared to other institutionalized Investors. With independent examination of assessment policies by OGUT, regardig sustainability, the commitment of funds in this direction is supported and the development of a sustainable financial sector promoted.

Three areas are checked: the “basic methodology”, the “portfolio” and the “environment” of the funds. In the area “basic methodology” the assessment-principles (positive, negative and criteria for exclusion) but as well research and controlling in regard to the abidance of criteria within the provision-cash are checked.

The examination of the portfolio targets the assessment during the period under report. Following the concept of sustainability, the described examination along with assessment-policies, also includes the “environment” of the provision cashes. This covers the analysis of communication and transparency concerning sustainability, approach of commitment and the issue of sustainability in the context of the provision-cash (e.g. aspects of business-ecology, staff-policy, corporate citizenship).
From March to June 2009 the examination of the reporting-period 2008 took place. This examination was conducted for the 6^th time. The following cashes could be granted a positive mark concerning sustainability:

• BAWAG Allianz Vorsorgekasse AG
• BONUS Vorsorgekasse AG
• VRG 1 der BONUS Pensionskassen AG
• BUAK Betriebliche Vorsorgekasse AG
• VBV Vorsorgekasse AG
• ÖVK Vorsorgekasse AG
• Neu: VICTORIA-VOLKSBANKEN Vorsorgekasse AG

On Friday 10^th of July 2009 the commissioning was conducted by the chief-of-department for environmental economy and energy of the Federal Ministry of Agriculture, Forestry, Environment and Water Management, Dr. Martina Schuster in representation of Federal Minister Berlakovich.

Commissioning of the sustainability certificates 2008 to the examined severance-pay funds and company pension funds by Senior Legal Secretary Dr. Martina Schuster, Federal Ministry of Agriculture, Forestry, Environment & Water Management and OGUT General Secretary, Dr. Herbert Greisberger.

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