Swiss Pensionskassen fear there could be major financial burdens arising from the proposed application of the country’s very own revised solvency regime for insurers, known as Swiss Solvency Testing.

“ASIP could only agree to a modified solvency regime if it included the ability to take measures to fill a gap in the Pensionskasse,” said Christoph Ryter, president of the Swiss pension fund association ASIP. Ryter took part in a discussion yesterday, at the retirement provision fair in Zurich, on whether or not the application of the new solvency regime would “kill the second pillar” in Switzerland.

Swiss funds join critics of new solvency rules