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Old 10.04.2018, 20:55
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2nd pillar / semi-autonomous pension funds / AXA Winterthur pension changes

Hi all,

I have received an email from my 2nd pillar foundation saying a new pension fund will be started. Here are all the info I could find:

Quote:
<Insurance company> will be focusing entirely on semi-autonomous solutions in the future and will no longer be offering full-value insurance, which is becoming increasingly unattractive for customers. Companies and their employees will enjoy better conditions thanks to the reorientation, while at the same time it will be possible to improve generational fairness within the second pillar.

Ongoing low interest rates, a growing redistribution to the detriment of the working population, and a strongly regulated investment corset have resulted in increasingly unfavorable value for money for companies and their employees with full-value insurance in recent years. More and more companies have therefore already chosen a semi-autonomous pension solution in the past few years. In addition, full-value insurance policies are also only being underwritten selectively by the life insurers across the industry.

<Insurance company> and the responsible trustees have now decided to no longer offer full-value insurance in the future and to convert the existing full-value insurance foundations into semi-autonomous foundations as of the start of 2019.


Given their less restrictive conditions, semi-autonomous foundations have better possibilities for realizing earnings opportunities for the insured with the existing savings capital and hence to pay higher interest on the retirement assets. This also limits incongruous cross-financing from the younger to the older generation and from extra-mandatory to mandatory benefits.
...


What does that mean in practice?
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Old 11.04.2018, 08:04
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Re: 2nd pillar / semi-autonomous pension funds

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Hi all,

I have received an email from my 2nd pillar foundation saying a new pension fund will be started. Here are all the info I could find:





What does that mean in practice?
Your pension fund should grow faster over the long term
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Old 11.04.2018, 11:25
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Re: 2nd pillar / semi-autonomous pension funds

<Insurance company> is AXA btw.

https://www.nzz.ch/wirtschaft/axa-se...mie-ld.1376219
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Old 11.04.2018, 18:42
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Re: 2nd pillar / semi-autonomous pension funds

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What does that mean in practice?
Translation: We are making insufficient profits on the current setup, so some bright spark has figured out a better way for us to make some more cash. We are now going to try to sell you this idea as a great benefit to you... of course in reality it is more to our benefit than your's since you will now carry a greater part of the risk.
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Old 11.04.2018, 19:01
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Re: 2nd pillar / semi-autonomous pension funds

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Translation: We are making insufficient profits on the current setup, so some bright spark has figured out a better way for us to make some more cash. We are now going to try to sell you this idea as a great benefit to you... of course in reality it is more to our benefit than your's since you will now carry a greater part of the risk.

As I thought then
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Old 11.04.2018, 21:53
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Re: 2nd pillar / semi-autonomous pension funds

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Translation: We are making insufficient profits on the current setup, so some bright spark has figured out a better way for us to make some more cash. We are now going to try to sell you this idea as a great benefit to you... of course in reality it is more to our benefit than your's since you will now carry a greater part of the risk.
The greater risk allows a higher equity holding, that should over time increase retirement funds.
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Old 13.04.2018, 15:39
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AXA winterthur - big Pension changes




https://www.ipe.com/countries/switze...024110.article

Will the other pension companies follow suit?

What are your thoughts?

cheers
SC
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Old 13.04.2018, 15:55
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Re: AXA winterthur - big Pension changes

As I understand it, there is no such thing as insurance anymore?
Or
does this mean one pays in but nothing is payed out?
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Old 13.04.2018, 19:22
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Re: AXA winterthur - big Pension changes

Anyone got any idea what impact, if any, this would have for those of us stuck in the IAS 19 trap?
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Old 13.04.2018, 19:30
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Re: AXA winterthur - big Pension changes

Only this:


https://insideparadeplatz.ch/2017/11...obs-in-gefahr/

https://insideparadeplatz.ch/2017/11...-weg-aufs-rav/
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Old 13.04.2018, 20:25
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Re: AXA winterthur - big Pension changes

Enchanting

Especially this: Inzwischen kommen bei den beiden Schweizer Finanzmultis auf einen Front-Mann für die Kundenberatung bis zu 7 Backoffice-Mitarbeiter.

Der Compliance-Wahnsinn hat irrwitzige Blüten getrieben. Die beiden Geldhäuser sind tönerne Riesen geworden.

Banks have increased their compliance teams immensely. One bank told me that in the last years they hired over 3,000 people for the compliance teams worldwide.

And one notices as a customer: nothing works and anything has to go through thousand of loops and hurdles....
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