Swissca Holding AG

Swissca Holding Ltd.
Nordring 4
3000 Berne 11
Phone ++41 58 344 43 00
Fax ++41 58 344 43 01
[email protected]
www.swissca.ch
Zurich, 6 May 2004
MEDIA INFORMATION
Pension funds survey 2004 by Swissca and Prevista Investment Foundation
Pressure for adaptation to changed outline conditions
Swissca and Prevista Investment Foundation carried out their fourth survey
among Swiss pension funds with data as on the relevant date of 31.12.2003.
Thanks to the polling conducted via the Internet for the first time and the
electronic recording of the data, many interesting results can be published
already today. These are accessible to the public on the www.swissca-pkstudie.ch web site.
The Swissca survey 2004 covered the structure and benefits data, capital investments, cash
ratio, performance, details on the interest rate and the administrative costs of the Swiss
retirement pension institutions (autonomous and semiautonomous pension funds). In addition to
this, comments on current retirement pension policy questions were also recorded. 180
retirement pension institutions participated, with total assets of CHF 185 billion, 687,000
active insured persons and 272,000 pensioners. On account of the electronic recording and
evaluation, the results are available already just three weeks after completion of the survey. On
the newly established www.swissca-pk-studie.ch web site, details of the funds participating
with their basic data, as well as a first evaluation of the approx. 40 subject areas can be
viewed. With its wealth of information and data, the web site should develop into an important
and undoubtedly highly topical source of information for insured persons, practitioners, the
media and politicians.
A company of the Swiss cantonal banks
Some of the most important findings in brief:
The survey results reflect the dramatic events on the investment markets of the past few years,
but they also show under what great pressure for adaptation the retirement pension institutions
operate on account of new statutory requirements, the demographic development and political
demands. In this situation, the Swissca survey makes a considerable contribution towards the
increased transparency that is being called for on all sides, and that will also benefit the
pension funds in the form of a simplified definition of their position.
The stock market, improved once again in 2003, clearly contributed to an easing of the
investment situation. The cash ratios in the private and public sector funds have improved on
average from 104 to 108, and from 90 to 93 percent, respectively. However, in view of the
existing share quotas, the reserve requirements are only partially met.
At present, the first elements of the 1st Revision of the BVG are being put into effect. The
participants' comments and details show that major, large-scale pension funds are affected by
this only to a relatively little extent. But it also becomes clear that a new revision is already
inevitable. The reduction of the conversion rate passed by Parliament no longer meets the
biometric needs even today. Therefore, in the sector over and above compulsory requirements,
which is not regulated by law in this respect, the retirement pension institutions have already
initiated cuts that are in part drastic: an average reduction from 6.9 to 6.4 percent for men, for
women indeed from 6.8 to 6.2 percent. The occupational pension provision on a compulsory
basis and that over and above the compulsory requirements are thus beginning to drift apart.
The survey is able to show a need for legislative action. It is the first time that such up-to-date
figures are available.
It is already clear today that the survey conducted by Swissca meets a compelling need,
putting the knowledge about occupational pension provision on an entirely new basis with
respect to speed, transparency and comprehensiveness of the data available. Swissca will
complete the evaluation of the extensive data material in the coming weeks. A publication with
A company of the Swiss cantonal banks
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the most important results and comments will appear in September 2004 (copies can be
ordered by calling ++41 (0)58 344 49 00 or via e-mail: [email protected]).
The Swissca Group is a company of the Swiss Cantonal banks. As a specialised service
provider, Swissca concentrates on the development and marketing of investment and
retirement pension products for private and institutional clients: Swissca investment funds,
assets of the Prevista Investment Foundation, institutional asset management mandates, as well
as 2nd and 3rd pillar retirement pension products and services. As one of Switzerland's
largest fund providers, Swissca manages fund assets worth CHF 33 billion. The total clients'
assets managed amount to over CHF 48 billion.
For further information please turn to:
Internal:
External:
Swissca Portfolio Management AG
Simmen Wirth & Partner AG
Markus Wirth
Pietro H. Simmen
Waisenhausstrasse 2
Kohlrainstrasse 1
8023 Zurich
8700 Küsnacht
Tel.
(41) 58 344 49 21
Tel.
(41) 1 912 09 09
Fax
(41) 58 344 49 01
Fax
(41) 1 912 16 16
e-mail: [email protected]
A company of the Swiss cantonal banks
e-mail: [email protected]
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