German engineering specialist group Bosch has changed the structure of its Pensionfonds pension scheme to allow for company contributions to complement employee payments.

The Pensionfond scheme was introduced in 2002 and Stuttgart-based Bosch was the first industrial company to adopt it for employees, but the fund was initially designed only for employee contributions. The EU pensions directive in September allowed for a new structure, the company said.

According to Bosch, the pension fund’s yield-oriented investment policy enables employees to benefit from the opportunities offered by the capital market. Risks are minimized by a guarantee equal to the sum of the contributions paid and a portfolio protection concept. The new concept also limits future pension risks for the company.

The fund’s assets will exceed more than E500 million in 2006, with a combined 133,000 employees and pensioners.