We believe in the fundamental values of occupational
benefit planning, and are committed to airing our opinions.
Through our different activities, we endeavour to support
essential purpose of this social insurance scheme.
In an interview with the programme “Forum” on RTS, Stéphane Riesen, Chief Executive Officer of Pittet Associates, aired his thoughts on the Covid-19 crisis as well as its impact on pension schemes. He explained that they are used to dealing with market fluctuations and that the current crisis is not sufficiently structural to be a cause for concern for industry professionals.
On 24 September 2017, the Swiss people rejected the Pension Reform 2020. An unholy alliance enabled a slight majority to block a reform that would have given the Swiss retirement system a break of 10 to 15 years. So yes, this really is a “Black Sunday” for the Swiss people, as explained by Pittet Associates CEO David Pittet in this article published in the magazin “Indices” on 25 September 2017.
As part of the consultation process concerning the modernisation of supervision, Pittet Associates has proposed the incorporation of a new paragraph 2bis into Article 52e of the Swiss Occupational Pensions Act. It would clearly vest experts with the task of supporting the foundation council in the active and passive management, as explained by Pittet Associates CEO David Pittet in this interview published in the newsletter “Prévoyance Actualité” on 28 July 2017.
The Swiss newspaper Matin Dimanche cares about the fate of the 2nd pillar. To meet its many challenges the French-language daily newspaper of record notes in its edition of 12 February that the “3rd contributor”, i.e. the return on investment savings, is going to play a decisive role. Is it from now on necessary to give asset managers more freedom so that the pension institutions can make better use of this source of revenue? If the investment professionals tend to answer this question in the affirmative, David Pittet, Managing Director of Pittet Associates, fears that expanding the investment universe is not the magic response that some people might expect.
Just as the 2020 reforms to the pension-planning system are being debated, a new group of experts from the French-speaking part of Switzerland has come up with six powerful ideas for ensuring that this system, whose value is universally recognised, remains sustainable.
These six key proposals were presented to Swiss journalists at a press conference in Bern on Monday 30th June 2014. Among the members of the think tank is Pittet Associates’ own Stéphane Riesen.
The official viewpoint of the Pittet Group (article in French) Discover the official viewpoint of the Pittet Group with regards to the vote on March 7, 2010, on lowering the conversion rate. Our opposition to once again lowering the rate is based on a technical analysis of the issue, and is in line with our goal of defending the credibility of the 2nd pillar occupational benefit scheme.
Interview with Meinrad Pittet in Point de Mire (article in French) For the majority of pension funds, 2008 will have been a difficult year. According to various estimates, the depreciation of fund assets amounted to approximately 100 billion francs last year, equivalent to a decrease of 13.5%.
Interview with Stéphane Riesen in L’Hebdo (in French) As an advocate for occupational benefit planning (2nd pillar), which he reminds us is a social insurance scheme, Stéphane Riesen does not overlook the price paid by policyholders of certain pension funds. An overview of possible streamlining measures.
Interview with Stéphane Riesen in L’Hebdo (in French) Cutting the conversion rate for occupational benefit planning (LOB) will undermine confidence in a social insurance system that, combined with AVS (old-age pension and survivors benefits scheme), should provide a pensioner with 60% of his final salary. This is the opinion expressed by Stéphane Riesen in his interview with the magazine L’Hebdo.
Interview with Meinrad Pittet in L’Agefi (in French) It was commonly believed that 75% of pension funds were undercapitalised. A survey puts this figure at only 50%. During an interview with the daily newspaper L’Agéfi, Meinrad Pittet confirms that the world of occupational benefit planning is swimming in a pool of contradictions.
Interview with Meinrad Pittet in SPN Online (in German) Meinrad Pittet, a Geneva actuary, asserts that the Federal Council’s finance plan for public pension funds is based on a fair-weather model. He expresses his approval, however, of the increased standards in pension fund governance.