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Retirement benefit plan (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement benefit plan [Abstract]  
Defined benefit pension plan amounts recognized in balance sheets and statement of income/(loss)

The following table sets forth the status of the defined benefit pension plan and the amount that is recognized in the consolidated balance sheets:

   
As of
December 31,
  
In CHF thousands
  
2021
    
2020
    
2019
  
Defined benefit obligation
    
(33,889
)
    
(30,213
)
    
(26,624
)
Fair value of plan assets
    
26,791
      
22,749
      
19,139
  
Total liability
    
(7,098
)
    
(7,464
)
    
(7,485
)


The following amounts have been recorded as net pension cost in the consolidated statements of income/(loss):

   
For the Years Ended
December 31,
  
In CHF thousands
  
2021
    
2020
    
2019
  
Service cost
    
1,648
      
1,626
      
1,313
  
Interest cost
    
79
      
71
      
195
  
Interest income
    
(48
)
    
(42
)
    
(133
)
Net pension cost
    
1,679
      
1,655
      
1,375
  
Changes in defined benefit obligation, fair value of plan assets and unrecognized gains/(losses)

The changes in defined benefit obligation, fair value of plan assets and unrecognized gains/(losses) are as follows.

A.
Change in defined benefit obligation

   
For the Years Ended
December 31,
  
In CHF thousands
  
2021
    
2020
    
2019
  
Defined benefit obligation as of January 1
    
(30,213
)
    
(26,624
)
    
(17,942
)
Service cost
    
(1,648
)
    
(1,626
)
    
(1,313
)
Interest cost
    
(79
)
    
(71
)
    
(195
)
Change in demographic assumptions
    
—
      
1,428
      
1,138
  
Change in financial assumptions
    
156
      
(71
)
    
(2,171
)
Change in experience assumptions
    
(252
)
    
(931
)
    
(2,003
)
Benefits deposited
    
(894
)
    
(1,467
)
    
(3,382
)
Employees’ contributions
    
(959
)
    
(851
)
    
(756
)
Defined benefit obligation as of December 31
    
(33,889
)
    
(30,213
)
    
(26,624
)

B.
Change in fair value of plan assets

   
For the Years Ended
December 31,
  
In CHF thousands
  
2021
    
2020
    
2019
  
Fair value of plan assets as of January 1
    
22,749
      
19,139
      
12,277
  
Interest income
    
48
      
42
      
133
  
Employees’ contributions
    
959
      
851
      
756
  
Employer’s contributions
    
1,089
      
950
      
859
  
Benefits deposited
    
894
      
1,467
      
3,382
  
Return on plan assets excluding interest income
    
1,052
      
300
      
1,732
Fair value of plan assets as of December 31
    
26,791
      
22,749
      
19,139
  


Expected contributions by the employer to be paid to the post-employment benefit plans during the annual period beginning after the end of the reporting period amount to approximately CHF 1.0 million.

C.
Change in net defined benefit liability

   
For the Years Ended
December 31,
  
In CHF thousands
  
2021
    
2020
    
2019
  
Net defined benefit liabilities as of January 1
    
7,464
      
7,485
      
5,665
  
Net pension cost through statement of income/(loss)
    
1,679
      
1,655
      
1,375
  
Remeasurement through other comprehensive income/(loss)
    
(956
)
    
(726
)
    
1,304
  
Employer’s contribution
    
(1,089
)
    
(950
)
    
(859
)
Net defined benefit liabilities as of December 31
    
7,098
      
7,464
      
7,485
  

D.
Other comprehensive gains/(losses)

   
For the Years Ended
December 31,
  
In CHF thousands
  
2021
    
2020
    
2019
  
Effect of changes in demographic assumptions
    
—
      
1,428
      
1,138
  
Effect of changes in financial assumptions
    
156
      
(71
)
    
(2,171
)
Effect of changes in experience assumptions
    
(252
)
    
(931
)
    
(2,003
)
Return on plan assets excluding interest income
    
1,052
      
300
      
1,732
  
Total other comprehensive gain/(loss)
    
956
      
726
      
(1,304
)
Actuarial assumptions and sensitivity analysis

The actuarial assumptions used for the calculation of the pension cost and the defined benefit obligation of the defined benefit pension plan for the years ended December 31, 2021, 2020 and 2019, respectively, are as follows:

   
For the Years Ended
December 31,
  
   
2021
    
2020
    
2019
  
Discount rate
    
0.30
%
    
0.20
%
    
0.20
%
Rate of future increase in compensations
    
1.75
%
    
1.75
%
    
1.75
%
Rate of future increase in current pensions
    
0.00
%
    
0.00
%
    
0.00
%
Interest rate on retirement savings capital
    
0.75
%
    
0.50
%
    
0.50
%
Mortality and disability rates
  
BVG 2020-CMI
    
BVG 2020-CMI
    
BVG 2015-CMI
  



A quantitative sensitivity analysis for significant assumptions as of December 31, 2021 is shown below:

   
Discount rate
    
Future salary increase
    
Future pension cost
    
Interest rate on
savings capital
  
Assumptions
  
0.5% increase
    
0.5% decrease
    
0.5% increase
    
0.5% decrease
    
0.5% increase
    
0.5% decrease
    
0.5% increase
    
0.5% decrease
  
   
In CHF thousands
  
Potential defined benefit obligation
    
31,190
      
37,006
      
34,578
      
33,176
      
35,497
      
32,435
      
34,822
      
33,007
  
Decrease/(increase) from actual defined benefit obligation
    
2,699
      
(3,117
)
    
(689
)
    
713
      
(1,608
)
    
1,454
      
(933
)
    
882
  


A quantitative sensitivity analysis for significant assumptions as of December 31, 2020 is shown below:


   
Discount rate
    
Future salary increase
    
Future pension cost
    
Interest rate on
savings capital
  
Assumptions
  
0.5% increase
    
0.5% decrease
    
0.5% increase
    
0.5% decrease
    
0.5% increase
    
0.5% decrease
    
0.5% increase
    
0.5% decrease
  
   
in CHF thousands
  
Potential defined benefit obligation
    
27,740
      
33,080
      
30,912
      
29,519
      
31,652
      
28,916
      
31,070
      
29,405
  
Decrease/(increase) from actual defined benefit obligation
    
2,473
      
(2,867
)
    
(699
)
    
694
      
(1,439
)
    
1,297
      
(857
)
    
808