Asset Management

Sustainable future means helping citizens achieve the best income in retirement on a sustainable basis.

The National Council approved, by 101 votes against 91 with 4 abstentions, the proposals of the Conciliation Conference over the Retirement Provision 2020. Earlier, the Council of States had supported the project with 27 votes against 17. The dossier is now ready for final voting. Now the people will have to give its opinion on September 24th.

In his final address to the House on Thursday, Interior Minister Alain Berset on behalf of the government stressed the crucial importance of the reform for “Switzerland, the people, the economy and the stability of the institutions”.

Pension funds with defined benefit schemes were fewer in Switzerland in 2015 than 10 years earlier, according to official statistics released today. The figures showed 230 funds disappeared, according to the country’s federal statistics bureau (BFS): the number of pension funds with defined benefit (DB) plans (Leistungsprimat) fell from 289 to 58 between 2005 to 2015, with only 15 public.

Whereas one in five individuals were in DB schemes in 2005, in 2015 this ratio was down to 1 in 15, according to the statistics. The BFS said that the decline in the number of Pensionskassen running DB plans went hand-in-hand with a decline in the number of scheme members.

UBS said Northern Trust is buying fund services units of UBS in Luxembourg and Switzerland, on Monday. The company did not announce the financial terms of the deal.
The transaction is expected to close in the second half of 2017, subject to applicable regulatory and fund board approvals and other customary closing conditions.

Funds and investment services in Malta

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