The purpose of the foundation is to provide for the employees of the founding company who are insured under this foundation, as well as their dependents, against the economic consequences of old age, disability, and death, and to support the beneficiaries or their dependents in cases of need such as illness, accident, disability, or unemployment. Both the circle of beneficiaries and the nature and scope of the benefits are determined by the regulatory provisions. The foundation may also be joined by the staff of companies economically or financially closely linked to the founding company, provided that the necessary funds are made available to the foundation and the rights of the existing beneficiaries are not impaired. The purpose of the foundation can be fulfilled: through an autonomous pension fund, if the technical insurance requirements are met, through insurance contracts, where the foundation must be the policyholder and beneficiary, through a retirement savings plan, possibly with supplementary risk insurance. The foundation may also provide benefits to other tax-exempt employee benefit institutions that exist for the benefit of the beneficiaries in order to finance contributions and insurance premiums.
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