Pension Funds Monitor

The Pension Funds Monitor is a real-time indicator of the financial position in the
second pillar. It provides information about the average funding ratio and the average investment performance of Swiss pension funds.

The calculations are based on data from Swisscanto's "Schweizer Pensionskassen" annual Internet-based survey. Swisscanto estimates and aggregates the funding ratios at the level of individual funds. Changes on the liabilities side are determined using the historical target returns of the previous year. If no reliable target return can be calculated, the average of the historical target returns is used. The performance of individual balance sheet items on the assets side is simulated by means of index performances under the assumption that no rebalancing takes place. The result of the aggregation is the performance of the total assets. Weighted averages are, in principle, used for the estimations at the aggregated level. For the performance estimate, the weighted and the unweighted average are given: the unweighted average is the simple mean of the performance estimates at the level of the individual fund.
We recognise that a consideration of the average funding ratio alone provides only limited information. Each pension institution must be considered based on the individual situation of the fund. The aim of the Pension Funds Monitor is to provide, in addition to the pure performance aspect, an indicator that can act as a key criterion for assessing the financial situation of pension institutions - the funding ratio. By commenting on and interpreting the results from the viewpoint of experts, we hope to make a significant contribution to a better understanding of the value of pension funds for both the insured parties and for our company.
The results of the Pension Funds Monitor and their interpretation will, in future, be published quarterly on this web page.
The results can be found in the document below.
Pension Funds Monitor as of 31.03.2016