Pension fund City of Zurich
| Pension fund City of Zurich | |
|---|---|
| legal form | Public law institution |
| founding | 1913 |
| Seat | Zurich , Switzerland |
| management | Ernst Welti (Managing Director) Jorge Serra (President of the Board of Trustees) |
| Branch | Pension funds |
| Website | www.pkzh.ch |
The City of Zurich Pension Fund is a Swiss pension fund . It insures the staff of the City of Zurich and the employees of over 159 affiliated companies under the 2nd pillar . The City of Zurich Pension Fund was founded in 1913 and converted into an independent public-law pension foundation in 2003 . At the end of 2019, it had 33,900 active insured persons and 18,900 pension recipients and managed assets amounting to 18.3 billion Swiss francs. With a coverage ratio of 116.3 percent (as of December 31, 2019), it is one of the best-cushioned pension funds in Switzerland.
Legal bases
The legal basis is formed by the Federal Act on Occupational Old-Age, Survivors 'and Disability Pension Plans (BVG) , the Federal Act on Freedom of Movement in Occupational Old-Age, Survivors' and Disability Pension Plans (Vested Benefits Act, FZG) and the associated ordinances. The legal basis also includes the regulations of the City of Zurich Pension Fund, which include the pension regulations, the partial liquidation regulations, the organizational regulations, the mortgage regulations and the deed of foundation.
organization
Cash organs are made up of Trustees , Foundation Committee and Investment Committee and the two external bodies control body / experts and medical examiners .
Board of Trustees
The Board of Trustees has the ultimate responsibility. It is composed equally of ten employer and ten insured person representatives and is elected for four years. The President of the Board of Trustees is Daniel Leupi , employer representative and head of the Finance Department of the City of Zurich. Vice-President is Jorge Serra, insured person representative of the affiliated companies. The most important tasks of the Board of Trustees include:
- Determining the overall strategy and monitoring its implementation
- Issuing the foundation regulations
- Approval of the annual report and invoice
- Periodic monitoring of all investment activities
- Election of the foundation committee and investment committee
- Election of the management of the foundation
- Regulation of the employment conditions of the Foundation's staff
Foundation Committee
The foundation committee prepares the resolutions of the foundation council. He is elected by the Board of Trustees for four years. Its main tasks are:
- Application for all business of the Board of Trustees that do not relate to investments
- Determination of employment conditions and wages of the management as well as monitoring of their activities
Investment commission
The investment commission is responsible for the implementation of the investment policy. He is elected by the Board of Trustees for four years. The most important tasks of the Board of Trustees include:
- Preparation of the Board of Trustees' business transactions relating to investments
- Planning and regulation of the implementation of the regulations and concepts issued by the Board of Trustees in the area of investments
- Management and monitoring of the execution processes, such as the determination of investment instruments and the selection and monitoring of the portfolio manager
- Continuous monitoring of the status and development of investments
Control body / experts
The external control body checks the annual accounts and the retirement accounts, the investments, the management as well as the collection of contributions and the payment of benefits annually. The control body is elected by the Board of Trustees and reports to it in writing on the result of its examination.
The external expert office periodically checks whether the pension fund offers security at all times that it can meet its obligations and whether the regulatory, actuarial provisions on benefits and financing comply with the statutory provisions. The expert office is elected by the Board of Trustees and reports to it in writing on the result of its examination.
Medical examiners
Appointed by the management of the pension fund independent medical examiners create medical reports and supply so that the pension fund decision-making bases in an award of disability pensions.