CERN Accelerating science

This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.

I have been a CERN staff member since 1973 and have always been interested in our working conditions. As a member of the Executive Committee of the Staff Association I participated from 1980 to 1984 in the Working Group on Pensions mandated by the CERN Council.

This commitment led on to my becoming a member of the Governing Board of the Pension Fund in 1983 where I have taken an active part in various commissions and working groups: Real Estate Asset Management Committee, Working group on actuarial matters, etc.; in so doing I have gained a thorough knowledge of different areas of the Pension Fund.

Since the Pension Fund is the only social security guarantee for the majority of us, it is essential to keep a keen eye on the work of the Governing Board of the Fund and, in particular, on the management of our financial assets, the stability of the Fund and our future guarantees.

I should like to continue my commitment with the Governing Board of the Pension Fund by standing for election again and I hope to obtain your support once again.

This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.

If I am standing for election to the Governing Board of the Pension Fund, it is to continue to defend the interests of the staff, as I have done for six years now, the last four as a member of the Executive Committee.
As the Vice-President of the Staff Association from 2001-2002 I have already participated in the work of the Governing Body and I intend to put my experience at the service of the Pension Fund once more and defend the following principles:

• Our Pension Fund has reached maturity, which means that the amount of the pensions paid each month is greater than the amount of contributions received. We must therefore keep a very close eye on investments and, in particular, make sure that that the Pension Fund does not play the role of a bank for the Organization. I will firmly oppose this if such a proposal is made.
  
• The cost-of-living adjustment of pensions must be guaranteed without putting the balance of the Fund in danger. Mechanisms must be found to guarantee an acceptable pension level whilst safeguarding the continuity of the Pension Fund.
  
• Furthermore, the basis of our pension system must be continuously strengthened and adapted, so that pensions continue to be adjusted in accordance with the cost-of-living in the event of a dissolution of the Organization. If the principle of a foundation taking over the Fund's assets is ensured, it is currently not the case as far as the future adaptation of our pensions in the case of a dissolution is concerned.
  

I will work in close contact with the Staff Association in accordance with these principles. How? By informing you directly via the Staff Council, listening to your opinions and remarks, making proposals which will allow a positive evolution of our Pension Fund system whilst respecting the principles, by acting in a responsible manner and demanding transparent decision-making.

Otherwise, I have no links or personal interests which might unduly affect any decisions made against the principles mentioned above. As on previous occasions, I am counting on your support to be elected as titular and defend the interests of the staff at all levels of the hierarchy in the Organization.

This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.

I have been at CERN since 1972, and was elected member of the Governing Board for the first time in 1998. The Governing Board then nominated me to the Investments Committee where I have been a member since the beginning of 1999. Since then I have actively participated in redefining and transforming the investment portfolio in order to improve the overall return and where possible reduce the risk. Recently I have made a proposal for an important modification to the Investment Strategy which will soon be studied in detail by an external consultant. If this proposal is confirmed then the new strategy should greatly simplify the management of the portfolios and possibly increase the return on our investments.

I have also actively participated and hopefully made useful contributions in discussions concerning all aspects of our Pension Fund and in particular the solvency risk of the Fund and the modeling of the long term evolution of the Fund.

The CERN Pension Fund is, for nearly all members of the personnel, the sole source of income for our retirement. It is thus essential that the Fund remains "in good health" for the long-term future. The value of the Fund is determined by the level of benefits paid, the average life expectancy of the beneficiaries, the repayment of the interest and the debts of the Organization, the compensation from the Organization for changes in personnel policy, and most importantly the success of the investment policy. Regular monitoring, and in particular efficient investment of the Fund's assets, (using all possible investment instruments) are of crucial importance to the long term well-being of the Fund.

If re-elected to the Governing Board, my primary objective will be the continued monitoring and improvement of the investment of our assets via the Investment Committee, as well as ensuring regular examinations of the boundary conditions associated with the other components affecting the long term viability of the Fund.

I am a candidate in these elections in order to pursue these main objectives.

This candidature has been duly registered and is hereby presented in accordance with paragraph 6.h of the Regulations for Elections to the Governing Board of the Pension Fund.

Having been an alternate in the Governing Board for three years, I am candidate for a second term and ask for your support. I am a member of the Staff association and have been acting as representative in the Staff council for more than three years.

I joined CERN in 1997 in the SL Division and have, since then, worked in the LHC Division before moving into the administration. Since 2004, I am a member of the Finance Department in charge of the multi-annual resources planning.

In January 2003, I became also a member of the Investment Committee, which follows closely the portfolio managers and is in charge of allocating our funds aiming for high enough returns and acceptable risk level in order to be able to pay the pensions not only today but also in future.

Due to the difficult market environments, our Pension Fund is not anymore in such a good position as it was by the end of 2000. In fact, the funding ratio, a measure comparing the pension fund's fortune compared to its liabilities, is below 100%. Thus, either higher returns of our investments will have to be obtained, which seems to be unlikely in the current market environments, or modifications to the pension fund scheme will have to be analysed and introduced to ensure that the pensions can be paid still in 10, 20 or even 30 years from now. We shall never forget that the Pension Fund is for most of us the only long-term social benefit to which we contribute.

A fair distribution and solidarity are needed between generations, active and retired staff, employing organisations and employees. The members of the Pension Fund's supervising committees will have to supervise even more actively our system and to implement the necessary changes in order to be able to continue paying the pensions in the long-term and to defend the important pension entitlements.

I am asking for your support and vote in order to allow me continuing my work in the Governing Board and the Investment Committee.