Switzerland’s Pension Fund of Credit Suisse has announced plans to transfer 1e retirement capital savings to its pension capital savings pot on 1 January 2027.
The pension fund and foundation supervisory authority for Ticino, Eastern Switzerland, and Zurich (ATIOZ) conducted a preliminary review of the proposed approach and deemed it appropriate in principle.
The retirement assets in 1e retirement capital savings will be transferred to pension capital savings on 1 January 2027, when they will begin to earn interest.
Pension benefits that are provided for disabled people and survivors will remain unchanged, keeping the same amount and scope.
Furthermore, costs incurred relating to the transfer will not be charged to pension participants and will be paid by existing employer contribution reserves, while remaining provisions will also be transferred.
The investment horizon for 1e retirement capital savings ends on 30 November 2026, with members urged to review their investment strategies.
The Pension Fund of Credit Suisse will adopt the pension model used by the Pension Fund of UBS on 1 January 2027 and adopt its regulations.
The two pension funds will remain independent entities, and members’ portfolios cannot be merged until 2028 or later.
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