tldr: they retire “their” (UBS’) old funds to offer actively managed fund with higher TER (from 0.8-0.9% to 1.12-1.27%).
The good news is that they will be sustainable and offer more stocks percentages…
They give us 1 month to change. Because I’m going to change for sure.
I am now looking for reasons to stay at PF. I wanted to keep it for simplicity, for the 100k online fraud insurance, for when I’m going to diversify ETF broker, but I might change.
I am starting to believe they are really testing the waters for big banks or worse they are killing themselves to move their customers to other banks.
sad indeed, especially what other “improvements” does the future hold for Postfinance clients who actually think that compared to the big banks Postfinance are quite ok?
grr, i have some Pension 100 and TER goes up from 1% to 1.27%. I was holding some 3a at Postfinance for diversity, but the difference to Viac & Finpension is now too much.
Me too. Although just the 3a bit. I still like their Aktiendepot and current accounts.
IMO testing price increases for better profits since they know most alternatives cost more anyhow.
Joining in disappointment.
-No more eCockpit
-No more free account keeping
-expensive E-Trading
-now killing the 3a products
I’m moving off our household accounts (question in where to?), the 3a accounts to Finpension and will probably close the account this year altogether. Bad decisions all around.
Too bad for PF, they developed so much from 10yrs ago and the design of the netbank is otherwise great. It’s just too expensive.
Pretty much all pension funds directly offered by banks have high TER. Glad to have many cheaper and better offers by third parties like finpension, viac and frankly nowadays. It’s definitely one of the reasons that I’ll transfer mine from PF.
Traditional banks in switzerland are quite expensive but competition from online banks will create more changes over time. My parents still prefer “big banks” because they offer personal/face to face customer service just in case something happens.
It was “okay”. Not great, not terrible, but very reasonable returns altogether on the PF75 fund.
I used it as diversification against my other pot in Finpension.
I’ll go to BCV with our joint account the next time PF raises a fee. Some minimum requirement (10 or 15kCHF for the free account) but that goes together with my emergency knipl
Have just successfully moved my 3a from PostFinance to Finpension. I will pay the monthly 5.- gladly knowing how much I am going to save in 3a fees. Funnily enough, during the 1-2 days the amount was in cash in the account I got a commercial call trying to explain to me that I should invest in their funds.
I still find PostFinance a great option to hold several accounts in CHF and EUR for a low fee. BCV, UBS and others either do not offer EUR accounts or they charge you ridiculous prices for them.
I got the same call asking if I want to go in for a free consultation on how to invest my money.
I’m sorry for those advisors, but I hope they bring back the message home.
Just got a text message from a friend who is not very much into personal finance and he’s asking me where I have my 3a since he wants to move away from PF after this.
But most people won’t change anything, I’m sure.
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