Bulk of Swiss schemes now underfunded

Related images

  • Bulk of Swiss schemes now underfunded

SWITZERLAND - The number of underfunded Swiss Pensionskassen has increased considerably in the first quarter as 74.3% are now below the full funding level, according to Swisscanto.

The figure calculated by Swisscanto still was at 63.9% by the end of 2008 and the Swiss Federal Social Insurance Office (BSV) recently noted six out of 10 schemes were underfunded. (See earlier IPE story: Swiss funding levels deteriorate in three months)

Swisscanto,which monitors approximately 80% of all pensionskassen, said the current average funding level was at 91.9% by the end of the first quarter, which is 1.7 percentage points lower than three months ago, while around 27% of pensionskassen were below a 90%-funding level.

Private pensionskassen are now funded at 98.3% on average - 1.9 percentage points down on 20008 - while one-fifth are below 90%.

Among public pensionskassen, the average funding level is 84.2% - 1.6 percentage points lower than at the end of 2008 - and at least 60% are over 10% underfunded.

However, Swisscanto pointed out most of these public pensionskassen have a state guarantee.

If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2503

    Asset class: Equities.
    Asset region: Emerging Markets.
    Size: EUR 30m.
    Closing date: 2019-01-31.

  • QN-2505

    Asset class: Real Estate Core/Core-Plus Multi-sector strategy.
    Asset region: Asia-Pacific.
    Size: $ 50m.
    Closing date: 2019-01-28.

  • QN-2506

    Asset class: Currency Overlay.
    Asset region: Global.
    Size: USD 4 bn..
    Closing date: 2019-02-11.

Begin Your Search Here