1.5% interest credit 2018

Board of Trustees decided to grant an interest of 1.5% to the active members' savings accounts

After an extraordinary performance in 2017, our investments suffered in 2018, particularly in December, in line with the broader financial markets. The final return was -5.4%.

Nevertheless, the Board of Trustees decided to grant an interest of 1.5% to the active members' savings accounts. You will certainly realize that this is 0.5% above the minimal rate of 1%, that will be granted by the majority of Swiss Pension Funds.

The decision, in a year of negative return, to go beyond the minimal interest, was intensely discussed and consciously taken by the Board members. Over the last two years we effectively granted 4% and 1.5% interest credit to actives, meaning that we distributed the largest part of our cumulated performance of 6.2% during these 2 years to you. The safety and sustainability of our pension fund always remain the overriding objectives not to jeopardize, and we will also in future try to find the right balance.