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Pension Funds Monitor

2nd pillar indicator providing information on coverage ratios and investment performance.

Assessment of the coverage ratio 

The Pension Funds Monitor is a real-time indicator of the financial position in the 2nd pillar. It provides information about the average coverage ratio and the average investment performance of Swiss pension funds. The aim of the Pension Funds Monitor, besides gaining insight on performance, is to provide an indicator that can act as a key criterion for assessing the financial situation of pension institutions.

Information provided by the Monitor

The calculations for the Pension Funds Monitor are based on data from the Pension Funds Study of Swisscanto Pensions Ltd. published annually.

The coverage ratios of the current year are estimated and aggregated for the individual pension plan. 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 asset-side balance sheet items is simulated by means of index performances without deduction of asset management costs and 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. The weighted and the unweighted averages are given for the performance estimate: the unweighted average is the simple mean of the performance estimates at the level of the individual pension scheme.

We recognise that a consideration of the average coverage ratio alone provides only limited information. Each pension scheme must be considered based on its individual situation.

Current yields

The estimated yield for the included pension funds in the first three quarters is 0.03% (YTD).

Current coverage ratios

The pension funds' coverage ratios declined slightly in the first three quarters of 2018 and are thus lower than at the end of 2017. The development of the coverage ratios (estimates) is as follows:

Pension schemes Coverage ratios 2017* in % Coverage ratios 31/06/2018 in % Coverage ratios 30/09/2018 in %
Private-law funds
114.4 112.5 112.3
Public-law funds,
full capitalisation
107.8
106.3 105.9
Public-law funds, partial capitalisation
83.5
82.1 82.1

*Results of the Swiss Pension Funds Study 2017

Our publications 

Further documents on the following topics can be found on the German and / or French versions of this page:

  • Brochure "Services of Swisscanto Pensions Ltd."
  • Publication "Pension Funds Monitor"
  • Pension Funds Study & media presentation

The full results of the Pension Funds Monitor are published four times per year exclusively in Zürcher Kantonalbank's "Pensionskassen aktuell" [Pension Funds News] newsletter. The newsletter service is free of charge (available only in German and French).

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