Swiss Pensionskassen returns for 2007 will be “only just positive”, Christoph Ryter, president of the pension fund federation ASIP, told IPE. He noted he was “surprised” by preliminary calculations made by Credit Suisse which showed a performance of 2.1%. The Pictet BVG 93 created in the 1990s as benchmark for the Pensionskassen only posted a return of 0.19%. In any case, the legal minimum rate of 2.5% needed by pension funds for the pay-out phase was missed which means reserves will have to be used.

Swiss pension funds miss minimum rate