News from the Board of Trustees, 13 November 2020

General Electric Switzerland Pension Fund (PF) / Supplementary Insurance Plan (SIP): News from the Board of Trustees, 13 November 2020

Current performance (PF only: the 1e solution including individual choice of investment strategy has applied to the SIP since 1 January 2019)

In October, the PF generated a return on investments of -0.87%. The accumulated result from January to October 2020 thus amounts to -0.27%.

SIP: Uniform Responsible Standard / name change at 4 funds

Swisscanto has announced the introduction of its new Responsible Standard according to which its investment activities will be geared towards an annual reduction in CO2 emissions. In this context, the designation “Responsible” has been added to the following funds:
- Swisscanto AST Avant BVG Responsible Portfolio 10

- Swisscanto AST Avant BVG Responsible Portfolio 25

- Swisscanto AST Avant BVG Responsible Portfolio 75

- Swisscanto (CH) Money Market Fund Responsible Opportunities CHF


Threshold amounts in 2021

The threshold amounts will change as of 1 January 2021. The new maximum coordination deduction will amount to CHF 25,095 (previously CHF 24,885). In the absence of a corresponding salary adjustment, this will result in slightly lower insured earnings at the Pension Fund. The entry threshold applicable at the SIP was raised to CHF 129,060 previously CHF 127,980). As of early January 2021, the fact sheet specifying the figures valid as of 1 January 2021 will be available on the Internet.

Interest rates in 2021 / pension adjustments

In 2021, the Federal Council’s BVG minimum interest rate on 2nd pillar savings capital remains at 1.00%. The Board of Trustees has also decided on a 1.00% interest rate on savings capital in the PF in 2021. The projected interest rate will likewise remain at 1.00%.

Pensions will not be adjusted as at 1 January 2021.


Board of Trustees reshuffle

Peter Rosa left the Board of Trustees of the PF and the SIP with effect from 8 June 2020. Robin Indermaur was elected as the new member of the Board of Trustees of the PF and SIP on the employer side. Martin Boller left the PF Board of Trustees with effect from 7 September 2020. His position as Board member on the employer side is currently vacant.

The next meetings of the Board of Trustees will take place on 16 April 2021.