Out of curiosity: are you using a standard strategy or a custom one ?
One of the standard ones, I’m afraid.
Like “Swiss/Global XX” (with XX being the percentage of more risky assets).
Reason: I am lazy.ℒ
ℒ I can’t be bothered with dissecting their various ETF offerings and what gems and turds the corresponding ETFs’ (and their corresponding benchmark indexes) active pickers investment committee chose to put into those vehicles.
I tried once but already after seeing the names – big (Swiss) banks, former and still existing, cantonal bank associations – behind those funds/ETFs, often using CHF hedged share classesℌ the cognitive parts of my brain concluded I was getting fleeced either way with fees that this seemed like a hopeless endeavor to which the lizard part of my brain (90% lizard, 10% dog) responded with Tonic Immobility (Thanatosis), preventing my 10% cognitive brain to further analyze the ETFs and come to a conclusion, let alone instruct my fingers to type in the commands to enter a custom strategy.
ℌ Nothing against hedging per se if you need the money out in CHF in a year or two. If you need it it five years (or ten years, or 20 years), hedging is surely profitable only for the bank that sells the FX forwards. Its main purpose is to smooth the performance curve in CHF for the portfolio manager who needs to report back in CHF to the investment committee on a monthly or quarterly basis.
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No reason to be afraid ! Actually you are reassuring me, as I’m planning to do the same (when I’ll pull the plug) but in fear of being considered dumb ! 
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Just as a reminder:
You received 3% last year, while the Vorsorgewerk Bund granted only 1.5%. 
Thanks for backing up the usual_mirager_finger-out-of-ass-and-in-the-wind_gut_feels point with real numbers 
Imo anything over 3% on a regular 2nd pillar account is very good indeed!
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Profond had 9.8% return in 2024 and decided to distribute 8% to its members.
That’s only fair to those members.
YTD yield until November 30 is 4.9%, guessing we get half credited as “interest” by the time the numbers come out for 2025 (Q1, usually)
If anyone has AXA, when is this usually communicated?
I think that last year it was beginning of Jan but wanted to check
For AXA, i think it’s on the annual certificate, last year Mid-Jan, year before was early Feb, but perhaps there are different fondations.
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Is it? It’s a pension fund it also need decent reserve. What happens when we have a bear market and it underperforms for a few years?
Iirc the fund was at 104% coverage (maybe even below) in April, and that wasn’t such a painful crash.
Most of the funds with generous interest rates (eg UBS) have much higher reserve iirc. (So can absorb a lot more losses)
Edit: also they had quite a bit of inflow the last few years, that can also screw up the existing members if the reserve changes as a result.
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Profond has statistics dating back to 1992:
- In 2008, performance was -25.7%. Profond then credited only the obligatory minimum interest rate for five years in a row.
- In 2001, performance was -3.2%, and in 2002 it was -8.3%. For 2002, they write:
The ongoing stock market weakness also consumed Profond’s reserves. At the end of 2001, there was a technical cover shortfall, which means that the available assets fell short of the long-term capital requirements. Rigid statutory regulations threatened to aggravate the situation, especially the regulations on vested benefits have to follow fair weather criteria. Without countermeasures, a negative balance deteriorates with every termination.
For this reason, the Foundation Board reacted immediately and ordered a round of zero interest on the retirement assets in 2002.
I’m conflicted. What you probably shouldn’t forget is that a pension fund has a damn long investment horizon. And they never has to pay us all at once. And still: it also can’t afford to be reckless. In the worst case, the pension fund has to to Sanierungsmassnahmen (“remediation measures” in englisch?), and there are legal measures for that.
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What if many employers try to switch away (because reserves are getting low and they start being scared, they attracted people with the juicy returns, so probably a lot of the people who moved over are sensitive to performance)? What if many people are unemployed and need to move their assets to a VB?
(I think they can restrict employers leaving the fund to avoid too many issues, but it won’t give a great message)
(disclosure: they’re my current pension fund and I’m very conflicted, I like the high return but the past 10y have had really high returns and things might not stay this way)
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According to the profond regulations:
Art. 59, Abs 4:
Beträgt der Grad der Unterdeckung von Profond im Zeitpunkt der Auflösung einer Anschlussvereinbarung mehr als 10 Prozent, ist der Arbeitgeber verpflichtet, sowohl die Unterdeckung auf dem Vorsorgekapital der versicherten Personen als auch auf dem Vorsorgekapital der eine Rente beziehenden Personen des Vorsorgewerkes per Vertragsende auszugleichen (Nachschusspflicht des Arbeitgebers). Profond kann vor der Auflösung der Anschlussvereinbarung bei einem sich abzeichnenden Deckungsgrad von unter 90 Prozent verlangen, dass der Arbeitgeber eine entsprechende Akontozahlung leistet. Sind die Voraussetzungen einer Teilliquidation von Profond erfüllt (Art. 5 Teilliquidationsreglement), reduziert sich die Nachschusspflicht des Arbeitgebers insoweit, als die Austrittsleistungen der versicherten Personen resp. die Vorsorgekapitalien der eine Rente beziehenden Personen, die Profond verlassen, gekürzt werden.
I’m also with Profond. It would be interesting to hear what others think about this. Personally, I’m not overly concerned. But I’m young… I don’t have much in my pension fund yet anyway.
My company is with AXA, I have received the following:
J’ai le plaisir de vous annoncer que la fondation AXA LPP Suisse Romande a annoncé le 18.12 distribuer la rémunération suivante sur vos avoirs :
5.00% sur la partie obligatoire
6.00% sur la partie surobligatoire
Just be careful, there are several AXA foundations, so you might have a different one. I have no idea how close they are in terms of performance.
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Looks like axa professional invest is 4%/4%
(That’s the one some people in bigtech in Zürich have)
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Last year was 7.5%, this year 7.25%… wondering if this is an exception, if not I will seriously consider buy-backs.
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With 136% coverage, they can afford returning all of the gains.
(And maybe it would have been the right time to buy-in, they even seem to be returning some of the reserve, the YTD performance was 6% in November)
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Servisa says 5.47% performance up to 30/11/2025, not bad at all!
5,3% for mine and 123% coverage. Decent performance
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A look at the neighboring country: A pension fund in Germany has gambled away (not my words) 1,1 milliarden euro. Approximately half of the invested assets 
Wir rechnen derzeit mit einem Verlust von rund der Hälfte unseres Anlagevermögens – etwa 1,1 Milliarden Euro zum 31. Dezember 2024. (..) Mehr als 10.000 Zahnärzte in Berlin und dem umliegenden Bundesland Brandenburg sind Pflichtmitglieder der VZB und müssen monatlich bis zu 1.500 Euro in die Kasse einzahlen
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How does a pension fund lose 50%? I guess there’s fraud involved…