No there is no difference (higher contribution/buy-in). Only difference is that buy-ins are locked for 3 years (not withdrawable for RE for example) while higher contributions are just “normal” contributions that could be used at any time.
I just got the phone-call from my pension fund (after I sent them an E-Mail last week). He confirmed that the high yield is due to the very high Deckungsgrad. They don’t want to let it increase to 150% and keep it closer to 115-120%, so that’s why the yield is so high in the last couple of years. He expects it to return to normal rates (3-4%), but if the market performance keeps the Deckungsgrad close to 130%, they will keep the higher yield.
You are right about the longterm return. My Finpension FZK returned 6.7% YTD till end of November, my pension fund 4.2% in the same time. It should be expected that 99% stocks should beat 45% stocks/55% bonds/RE longterm. But maybe my PF is constantly beating the market, who knows?
50% of your penion funds’ assets are kept for pensioneers - where the pension fund requires about 1% of nominal return to match its obligations. Meaning that any return beyond 1% increases the coverage ratio.
What this means for you - your pension fund money is kind of invested at 45% shares, 30% real estate - but with 100% leverage. There you go
Well, big banks have people with big salaries. So only a small part is in the compulsory range of up to 86k. With more money, they can take more risk than a pension fund that has lots of lowly paid employees, like in construction.
On top, some PF are veeeeery low risk to exclude any possibility that the employer would have to bail out the fund (Vollversicherung). Low risk, low return.
Also, not to be cynical, but I wonder how many people actually retire at the official retirement age from a big bank like UBS and draw a full pension.
I am with NEST and they manage around 3 % long term, so that’s not so bad.
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