Switzerland: Pensions and Investment News and Analysis
The country’s direct democracy has a lot to say about pensions in what is Europe’s third-largest pension market. A March 2024 referendum backed a higher state pension – the only issue is financing the hike, a problem the government is currently grappling with. A referendum on 22 September 2024 centres on a proposal to boost workplace pensions by maintaining benefits and protecting lower paid and part-time workers. It will lower pension accrual and increase contributions. The central motion has been backed by government, parliament, employers and the pension association ASIP, but not by unions.
Pension Funds in Switzerland - Country Report
Switzerland country report 2024: The trouble with Swiss second-pillar pension reform
Attempts to reform occupational pensions continue to fail, risking undermining public trust. But pension funds have already been making their own pragmatic changes
TOP SWISS PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Compenswiss/Swiss Federal Social Security Funds | 45,603,811
- PUBLICA | 43,640,320
- Kanton Zürich (BVK) | 42,843,506
- UBS Pensionskasse | 30,635,160
- Migros (MPK) | 30,597,045
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
Credit Suisse Pensionskasse pushes real assets allocation target by CHF1bn
The pension fund now holds 51.3% of its CHF17.6bn in total assets in real assets
Asga Pensionskasse to make first foray into private debt
Despite growing international popularity, private debt accounts for less than 1% of assets at the average Swiss pension fund
Swiss pension funds eye domestic private equity despite challenges
Consultant says Swiss pension funds might consider Swiss private market allocations as a ‘satellite’ exposure
Swiss pension funds unmoved by political scrutiny of US banks
Erratic or aggressive behaviour by US government poses investment risk for Swiss pension funds dealing with increasing market volatility, says Complementa
Swiss asset managers cheer cost-transparency rebuff, shift focus to returns
Swiss asset management association AMAS says net return is most important criterion for determining performance and efficiency of a pension fund, not costs
TOP MANAGERS: SWISS INSTITUTIONAL ASSETS
Company | Assets (€m)
- Zürcher Kantonalbank | 259,829*
- UBS Asset Management | 257,813[1]
- Swiss Life Asset Management | 131,028
- Pictet Asset Management | 72,132*
- AXA Investment Managers | 66,904
- BlackRock | 55,609
- Record Currency Mangement | 53,436***
- Vontobel | 51,459*
- Mesirow Currency Management | 47,619**
- Baloise Asset Management | 38,295
As at 30.6.24, *31.8.24, **30.9.24 ***28.6.24
[1] Excludes Credit Suisse Asset Management AUM
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IPE BEST PENSION FUND IN SWITZERLAND AWARD WINNERS
- 2023 - Pensionskasse Manor
- 2022 - CERN Pension Fund
- 2021 - Pensionskasse Bosch Schweiz
- 2020 - Pensionskasse Manor
- 2019 - CPEG, Caisse de prévoyance de l’Etat de Genève
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Swiss pension funds reform second-pillar pensions from the bottom up
September’s referendum on the reform of second-pillar pensions demonstrates that comprehensive proposals engineered from the top down don’t always bring the expected results. The latest proposal was roundly defeated by two thirds of the electorate.
Credit Suisse Pensionskasse pushes real assets allocation target by CHF1bn
The pension fund now holds 51.3% of its CHF17.6bn in total assets in real assets
Asga Pensionskasse to make first foray into private debt
Despite growing international popularity, private debt accounts for less than 1% of assets at the average Swiss pension fund
Swiss pension funds eye domestic private equity despite challenges
Consultant says Swiss pension funds might consider Swiss private market allocations as a ‘satellite’ exposure
Swiss pension funds unmoved by political scrutiny of US banks
Erratic or aggressive behaviour by US government poses investment risk for Swiss pension funds dealing with increasing market volatility, says Complementa
Swiss asset managers cheer cost-transparency rebuff, shift focus to returns
Swiss asset management association AMAS says net return is most important criterion for determining performance and efficiency of a pension fund, not costs
IPE DACH Briefing: Germany’s historic deal on €500bn fund
Plus: German Association of Actuaries (DAV) warns industry not to lose sight of pension reform; Switzerland’s custodian mandates
Publica stands by JP Morgan as custodian, amid potential political risk
The Swiss pension fund is not considering reviewing the bank’s custodian mandate
Swiss federal railway scheme ups investment in equities while reducing bonds
Last year the pension fund achieved returns of 6.9% and a funding level of 110.8%
Ethos, CPEG start new engagement campaign with largest asset managers
The campaign is a first step to induce asset managers to vote considering ESG criteria at AGMs
European pension funds react to the anti-ESG backlash
Despite political and market headwinds, European pension funds remain firmly committed to achieving net-zero and long-term climate goals
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