SWITZERLAND - Swiss pension funds are set to post an average growth in excess of 9% for the first three quarters of 2009, the latest Swiss institutional survey by Lusenti Partners revealed.
The consultant estimated public pension funds' performance was 9.02% at the end of September, while the returns for private funds were 9.67%.
This would represent a substantial increase from the performance of the second quarter, which was 2.82% for the public funds and 3.47% for the private ones.
Foreign equities contributed most to the boost in performance in the third quarter offering a 7.9% return for the public funds and 11.35% for the private funds.
These were followed by commodities, property, foreign bonds and Swiss equities.
The average funding level also improved from 94.8% at the end of June to 98.4% at the end of September.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.
Smart Pension has absorbed more than 6,500 members from the Corporate Pensions Trust (CPT) after its trustees decided not to apply for authorisation.
The Defined Contribution Investment Forum (DCIF) has reappointed Vivek Roy as chairman for 2019 following a vote at its annual general meeting last November.