Press release

Leonteq and Glarner Kantonalbank launch innovative 'bench' 3a pension savings solution

Leonteq AG / Key word(s): Product Launch Press release: Leonteq and Glarner Kantonalbank launch innovative 'bench' 3a pension savings solution 04.03.2024 / 07:00 CET/CEST PRESS RELEASE | LEONTEQ AND GLARNER KANTONALBANK LAUNCH INNOVATIVE "BENCH" 3A PENSION SAVINGS SOLUTION

Zurich, 04 March 2024

Leonteq AG (SIX: LEON) and Glarner Kantonalbank are jointly launching "bench" - the first 3a pension savings solution that combines upside potential with a guarantee on the paid-in assets at the time of retirement.

With "bench", Leonteq and Glarner Kantonalbank are launching an innovative, purely digital offering for the Swiss retirement market. The new "bench" 3a solution provides a guarantee on the paid-in assets at the time of retirement; the savings thus remain protected. At the same time, the guarantee products offer a higher potential return than a standard 3a savings account, with the guarantee being freely selectable at 80%, 90% or 100%.

The new solution is based on Leonteq's newly developed technology platform SIGMA, which enables automated and scalable administration of pension deposits by the Bench 3a Foundation, as well as a mobile app developed by Leonteq. "bench" is set-up in such a way that other banks can join as partners in the future.

Bench Services AG, a joint venture in which Leonteq and Glarner Kantonalbank each hold 50% of the shares, organises the digital marketing of the new pension solution. As a service provider, Bench Services AG acts on behalf of the Bench 3a Foundation. Leonteq and Glarner Kantonalbank each appoint a member of the Board of Directors of Bench Services AG and a member of the Board of Trustees of the Bench 3a Foundation.

Lukas Ruflin, CEO of Leonteq, said: "bench is the result of a unique collaboration in which Leonteq has contributed its technological expertise and Glarner Kantonalbank its comprehensive banking know-how. After several years of development work, we are delighted to bring this pension savings solution to the market, which is an innovative offering in the banking sector."