Switzerland Investment and Pensions
The financial situation of the compensation fund AHV, the largest of the three under management of public institution Compenswiss, will deteriorate in the years to come. Therefore, the government and the parliament are trying to find funding sources to keep AHV’s funding ratio in balance until 2040. The occupational pension supervisor OAK BV will keep a close eye on multi-employer pension funds to make sure they have enough reserves to fend off market turbulences, while ESG reporting standards for Pensionskassen turn the focus on quality.
Pension Funds in Switzerland - Country Report
Pensions in Switzerland report 2026: Swiss franc strength forces domestic pension funds to adopt costly hedging strategies
The Swiss franc is seen as a safe haven in times of trouble, but its strength causes problems for the country’s pension funds
TOP SWISS PENSION FUNDS 2025
Pension fund/entity | Assets (€’000)
- Compenswiss/Swiss Federal Social Security Funds | 51,429,510
- Kanton Zürich (BVK) | 45,592,404
- PUBLICA | 45,193,869
- ASGA Pensionkasse | 33,089,316
- UBS Pensionskasse | 32,251,486
©IPE Research; View the Top 1000 European Pensions Funds 2025 for a comprehensive market overview
Siemens Pensionskasse targets direct lending to capture illiquidity premium
The Swiss pension fund refined its investment strategy and improved its risk/return profile following an ALM
Swiss pension funds review currency hedging, avoid tactical shifts
Dollar exposure and gold allocations prompt review of FX hedging, but long-term strategies remain unchanged
Asga Pensionskasse shifts towards alternatives to capture new opportunities
Swiss pension fund increases alternatives exposure, cuts bonds, targeting diversification and improved long-term returns
Legal battle over transparency of Swiss public pension funds escalates
Court cases in Vaud test whether Swiss public pension funds must disclose investment allocations publicly
IPE DACH Briefing: Germany’s third-pillar shake-up draws new entrants to pension market
Plus: German Pensionskassen are looking to pool assets to access specialised investment strategies
Swiss Tellco intervention seen as proof of effective pension fund oversight
Pension experts say Tellco intervention shows Swiss pension oversight works, despite governance concerns in multi-employer schemes
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
- 2024 - CPEG
- 2023 - Pensionskasse Manor
- 2022 - CERN Pension Fund
- 2021 - Pensionskasse Bosch Schweiz
- 2020 - Pensionskasse Manor
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Siemens Pensionskasse targets direct lending to capture illiquidity premium
The Swiss pension fund refined its investment strategy and improved its risk/return profile following an ALM
Swiss pension funds review currency hedging, avoid tactical shifts
Dollar exposure and gold allocations prompt review of FX hedging, but long-term strategies remain unchanged
Asga Pensionskasse shifts towards alternatives to capture new opportunities
Swiss pension fund increases alternatives exposure, cuts bonds, targeting diversification and improved long-term returns
Legal battle over transparency of Swiss public pension funds escalates
Court cases in Vaud test whether Swiss public pension funds must disclose investment allocations publicly
IPE DACH Briefing: Germany’s third-pillar shake-up draws new entrants to pension market
Plus: German Pensionskassen are looking to pool assets to access specialised investment strategies
Swiss Tellco intervention seen as proof of effective pension fund oversight
Pension experts say Tellco intervention shows Swiss pension oversight works, despite governance concerns in multi-employer schemes
Industry voices caution on supervisory expansion in Swiss pension reform debate
Swiss pension experts warn against overreach as reform review raises supervision and governance concerns
Swiss supervisor puts pension fund under WTW administration
Tellco said the move was necessary due to ongoing disputes between members of the board of trustees
Ethos Foundation condemns CEO pay at largest Swiss banks
Their remuneration reached ‘record levels’ in 2025, according to the Swiss pension fund-backed organisation
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