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.
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.
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.