National Council calls for greater investment skills for pension funds

Bern (awp / sda) - The Federal Council should make the pension funds more competent in risk management by adapting the AHV regulation. The National Council approved a corresponding move by its health commission against the will of the state government with 123 votes to 65 with five abstentions.

A majority of the Social Security and Health Commission of the National Council (SGK-N) justified their approach. Risk management must become more comprehensive and also take into account the specific risks of the individual health insurance funds.

Ultimately, the outdated investment limits should be deleted because they would bring false security and partially relieve the responsible bodies of responsibility. The orientation towards fixed limits also means low returns.

The return on investment, the so-called "third contributor", could, according to the majority of the Commission, be improved with an amendment to the Ordinance on Occupational Retirement, Survivors' and Disability Pension Plans (BVV 2). The potential is enormous.

No minimum requirements

Andri Silberschmidt (FDP / ZH) said on behalf of the majority of the commission that the insured are at the mercy of their fund in this regard. There are no minimum requirements for the knowledge of decision-makers. The militia system is more important to the Federal Council. A considerable part of the differences in returns can be traced back to the different investment knowledge in the boards of trustees.

The Federal Council and a minority of the Commission did not share this analysis. Firstly, it cannot intervene in the powers of the board of trustees of the funds, the state government states in its negative response to the initiative.

Second, many attributes of the precautionary principle are already implemented in the regulation. Limits would in no way prevent pension funds from managing their assets in line with risk and income. But they are important in the area of illiquid investments and investments with a lever.

Limits guarantee the precautionary principle

Thirdly, foundation boards are generally not made up of investment experts. That is why limits are "a simple and inexpensive way of ensuring that the precautionary principle is implemented".

Overall, according to the Federal Council, the previous approach has proven its worth. A change is not necessary. The measures proposed by the Commission would in any case lead to higher costs. In contrast, higher returns are unlikely.

Barbara Gysi (SP / SG) warned on behalf of the minority committee against a "risk poker" of the board of trustees. The point here is just to ease the risks. The financial view alone could also hurt. There are already enough bases for risk management in place today.

 


National Council, Federal Government, Swiss Government, Council of States, Federal Assembly, National Council
 
Image by: Petr Pohudka | Dreamstime.com
 
News source: https://www.awp.ch