LIECHTENSTEIN/SWITZERLAND - Liechtenstein's second pillar pension schemes can definitely link into the Swiss pension protection fund, the Swiss senate has now decided.
The lower house of the Swiss parliament voted yesterday in Bern, with 110 votes against 28, in favour of the principality's funds joining the Swiss ‘Sicherheitsfond' (security fund).
Switzerland and neighbouring Liechtenstein had already signed a pre-agreement in December last year, which should see the principality's 40 or so corporate pension salchemes protected by the Swiss arrangement.
This agreement was put into force in January, but in August, pending the ratification of the agreement, the Swiss National Council raised questions about the linkage of Liechtenstein's second pillar pension schemes to the Swiss pension protection fund.
Following yesterday's vote, the agreement has now been fully ratified.