The Federal Compensation Office (FCO) is the compensation office which deals with the entire Federal Administration, the federal courts, the federal institutions as well as the other entities which are subject to the supreme supervision of the Confederation or who have close links with it. As a body implementing social insurance, it is principally engaged in carrying out tasks for the first pillar (old-age and survivors' insurance and invalidity insurance) as well as the Family Allowances Office.
- Collection and accounting of old-age and survivors' insurance and invalidity insurance and compensation for loss of earnings and unemployment insurance contributions.
The Federal Compensation Office deals with around 230 employers and more than 200,000 insured persons, who pay contributions. Salaries are disclosed and recorded in the individual insured person accounts. The individual accounts form the basis for calculating future benefits.
- Provision of benefits to insured persons.
The applications for benefits from insured persons are checked, the benefits calculated and the decisions made. Each month, the Federal Compensation Office pays out around 100,000 benefits.
- Family compensation fund.
The Federal Compensation Office manages the FCO family compensation fund for affiliated employers. The family compensation fund pays child allowance in accordance with the Family Allowances Act.