The Pension Fund of Credit Suisse Group (Switzerland), with total assets of approximately CHF 19.4 billion, around 18,000 active participants, and more than 11,000 pensioners, is one of the largest pension funds in Switzerland.

The Board of Trustees set an interest rate of 6.5% on the retirement savings capital for 2021. At the same time, it has defined a prospective interest rate of 1.0% for 2022. The prospective interest rate determines the intrayear interest paid on retirement savings capital, e.g. upon departure or retirement.

The coverage ratio as of the end of 2021 stood at 130.9%; this represents a noticeable rise, since it stood at 120.5% as of the end of 2020. Ample reserves exist for fluctuations in asset value; the target value is currently 17.0%. The Pension Fund thus has non-committed funds and unlimited risk ability.

Cost-of-living allowance for pensioners

Each year, the Board of Trustees reviews whether to grant a cost-of-living allowance. In view of the prevailing and historically low inflation environment, the Board of Trustees decided not to grant any new increase in the cost-of-living allowance as of January 1, 2022. Pensions were last adjusted on January 1, 2007. The cumulative increase in the cost of living since then amounts to 3.2%.

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The Pension Fund of Credit Suisse Group (Switzerland) conducts an annual detailed asset and liability manage-ment study, in which it analyzes whether the assets and benefit obligations are aligned with one another in the medium and long term. This constitutes the basis for defining the Pension Fund's investment strategy, risk ability, risk tolerance, and performance objectives.

The total number of insured participants decreased by 84 to 28,839 persons. At the end of 2021, the Pension Fund had 17,844 active participants and 10,995 pensioners. Active participants account for 62% of the total number, with pensioners accounting for 38%.

The largest age category, comprising 5,126 active participants, is participants between 35 and 44 years old. The average age of active participants is 42.9 years for men and 40.3 years for women.

The 8,184 retirement pension recipients account for the majority of pensioners, making up 74.4% of the total. The 1,793 recipients of a surviving spouse's pension constitute the second-largest group at 16.3%. The Pension Fund also paid 29 divorced spouse's pension in the 2021 reporting year.

The 65–74 age group comprises the largest number of pension recipients, with a total of 3,852 persons. There are 113 insured participants in the 95-plus age group.