Occupational Pension Plans 2008 – Financial crisis: Plummeting value fluctuation reserves
Neuchâtel, 6.11.2009 - (FSO) - The financial crisis was not without consequences for the 2008 occupational pension plans. During the year under review, there was a marked net loss in capital investments totalling CHF 76.2 billion, but for many institutions it was only a book loss. The value fluctuation reserves (end 2007: CHF 51.5 billion) amounted to CHF 8.5 billion at year end. Because insufficient reserves were allocated in many institutions, the coverage gap rose palpably to CHF 57.3 billion (2007: CHF 17.8 billion). In addition, uncommitted funds had to be reduced from CHF 9.4 billion to CHF 1.3 billion. As a result of the downslide in prices in the investment markets, the balance sheet total declined to CHF 537 billion (-11.3%). This is shown in the provisional Occupational Pension Plan Statistics for 2008 published by the Federal Statistical Office, which were gathered by means of random sampling.