The Pension Fund of Credit Suisse Group (Switzerland) posted a performance of 0.80% in December. Its overall performance for the year to the end of December 2019 is 11.28%.
The Board of Trustees has set the interest rate for the pension capital savings and retirement capital savings pension pots at 2.25% for 2019. At the same time, it has approved a prospective interest rate of 1% for 2020. The prospective interest rate determines the intrayear interest paid on retirement savings capital.
As a result of the launch of the 1e retirement capital savings scheme in January 2020 and the associated technical changes, our insured participants will experience temporary restrictions.
The Pension Fund of Credit Suisse Group (Switzerland) posted a performance of 0.57% in October. Its overall performance for the year to the end of October 2019 is 9.55%.
Following the departure of employee representative Stéphane Che from the Board of Trustees, Daniel Egli will be taking on this position on the Board of Trustees of the Pension Fund and Pension Fund 2. Daniel Egli works as a financial planner in E&E and HNWI. He took up his duties on October 18, 2019.
Owing to the introduction of the 1e retirement capital savings plan, the Pension Fund of Credit Suisse Group (Switzerland) will comprise two foundations from 2020: the Pension Fund for pension capital savings, and Pension Fund 2 for 1e retirement capital savings. Consequently, two separate sets of Pension Fund regulations will be introduced from next year.
On your MyPension portal, you have received a letter with payment slip under "Documents and Forms."
Effective October 1, 2019, Markus A. Beeler joins the Board of Trustees of the Pension Fund of Credit Suisse Group (Switzerland) as retiree representative.
Insured with retirement capital savings (total compensation in excess of CHF 127,980) have a one-time option to transfer their assets accrued in the current retirement capital savings to the new 1e retirement capital savings or to the pension capital savings pot.
There was a live webcast on August 22, 2019, in which Martin Wagner, Manager of the Pension Fund of Credit Suisse Group (Switzerland), provided details on the features of the new 1e savings plan and its introduction.