Planned joining together of the PF UBS and PF CS in Switzerland

The board of trustees of the Pension Fund of Credit Suisse and the Pension Fund of UBS recently reached an agreement in principle regarding the joining together of the participant portfolios of the two pension funds. The solid financial situation of both pension funds provides an ideal starting point for this undertaking.

A project team made up of representatives from both pension funds, UBS, and external pension fund experts is working hard on the process, the results of which cannot be implemented any earlier than 1 January 2028. All employees and pensioners in Switzerland will then be insured in the same pension fund. This does not require any action on their part; they don’t need to do anything. Likewise, the pensions in payment of both pension funds will continue to be paid out unchanged.

Joining pension funds together is a complex undertaking and a wide range of regulatory and legal aspects must be considered; the entire process will be monitored by the supervisory authority. Both pension funds will remain separate, independent foundations until the process is complete.

Pension Fund of Credit Suisse Group (Switzerland)