A successful financial year for the CPV/CAP pension fund Coop

19 February 2024

The CPV/CAP pension fund Coop achieved a pleasing return of +5.1% (CHF 560.6 million) as of December 31, 2023. The investment strategy’s long-term target return of 2.8% was therefore exceeded. When it comes to asset classes, Swiss bonds, domestic and foreign stocks and Swiss real estate in particular contributed to the positive performance. Thanks to the positive return, the coverage ratio was increased from 111.2% to 115.1%. With a fluctuation reserve of CHF 1.5 billion, CPV/CAP continues to have stable financing. Interest on the retirement savings remained unchanged at 2% in 2023.

The insurance adjustments

In the pension area, the CPV/CAP implemented the resolutions of the Board of Trustees from 2022: The technical interest rate was reduced to 1.50% as of January 1, 2023. To ensure that the CPV/CAP does not generate any losses during retirement, the conversion rate at age 65 was reduced from 5.15% to 4.85% as of January 1, 2024. In order to maintain benefits, contributions for retirement savings were increased by 1.2% and the risk contribution was reduced by 0.4%. In order to maintain pension benefits at retirement age 65, a one-time deposit was credited to active insured persons who had retirement savings on December 31, 2023 and were still insured on January 1, 2024. This deposit of CHF 302 million, financed by the CPV/CAP pension fund Coop, ensures that the old-age pension remains stable at the age of 65.

Source: Pensionskasse COOP
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