Featured News and Research

• IAS pension plan funding levels in Switzerland significantly lower over third quarter

  Over the third quarter of 2011 the funding level of a typical Swiss pension plan, under international accounting principles, has declined by around 9 per cent, as the Swiss Pension Finance Watch, published quarterly by Towers Watson, shows. Continue reading...

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  Pension accounting outlook for year-end 2011

  In this issue of Hot Topics, we look ahead to the year-end accounting for benefit plans under international accounting standards (IFRS and US GAAP).Continue reading...

• Towers Watson Pension Liability Study

  For the pension plans of the 30 largest Swiss multinational companies which make up the Swiss Leader Index (SLI), 2010 was a good year. The assets in the SLI companies’ pension plans increased to CHF 144.5 bn (+2.3%), a study by the consultant Towers Watson shows. The improvement is not only down to good investment returns of 6.5%. The pension liabilities increased by a smaller margin than the assets to CHF 161.6 bn (+1.4%). The overall funding ratio was 89.4%.Continue reading...

• IAS pension plan funding levels in Switzerland lower over second quarter

  Global Pension Finance Watch, published quarterly by Towers Watson, shows that over the second quarter of 2011 the funding level of a typical Swiss pension plan, under international accounting principles, has declined by around 4 per cent. “This reduction reflects the fact that asset returns were slightly negative overall in the second quarter” explained John Carter, Senior Consultant at Towers Watson Zurich. There was also a decrease in the benchmark discount rate by around 0.2 per cent leading to higher liabilities. The combination of lower assets and higher liabilities resulted in a decrease to the benchmark Pension Index for the quarter, from 100.0 at 31 March 2011 to 96.0 at 30 June 2011.Continue reading...

• Baisse des niveaux de financement des régimes de retraite en Suisse au cours du deuxième trimestre

  Global Pension Finance Watch, une publication trimestrielle de Towers Watson, indique que le niveau de financement d’un régime de retraite helvétique classique a baissé, selon les normes comptables internationales, d’environ 4% au cours du deuxième trimestre 2011. ”Cette réduction est la conséquence du fait que les rendements des actifs ont globalement été légèrement négatifs au cours du deuxième trimestre” explique John Carter, Senior Consultant chez Towers Watson. Une baisse d'environ 0,2% du taux d’actualisation de référence a aussi entrainé une hausse des engagements. La baisse des actifs conjuguée à la hausse des engagements a entraîné un repli de l’indice de référence des régimes de retraite, qui est passé de 100,0 le 31 mars 2011 à 96,0 le 30 juin 2011.Continue reading...

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  Global Alternatives Survey 2011

  The Global Alternatives Survey aims to track the movements of alternative assets managed on behalf of pension funds by the world’s largest alternative investment managers and to produce authoritative rankings. Continue reading...

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  International accounting assumptions: Impact of new actuarial tables in Switzerland

  An overview of the potential impacts of the new BVG/LPP 2010 tables in Switzerland on pension liabilities and costs under international accounting standards. Continue reading...

• Les engagements de prévoyance montrent à nouveau une meilleure situation financière

  Les entreprises suisses ont constitué des actifs couvrant 88% des engagements de prévoyance – le taux de couverture selon les normes comptables internationales a augmenté en 2009, mais reste inférieur à ce qu’il était avant la crise financière.Continue reading...

• Towers Watson expands in Turkey

  Towers Watson has expanded its presence in Turkey by establishing a new subsidiary – Towers Watson Danışmanlık Ltd. Şti – in Istanbul. It has also appointed Süha Alıcı, who has been with Towers Watson since 2007, as Managing Consultant to lead and grow the Turkish business.Continue reading...

• Towers Watson appoints Rory O’Brien to lead its Risk Consulting and Software business

  Towers Watson has appointed Rory O’Brien as global Risk Consulting and Software leader, effective immediately. He replaces Steve Taylor-Gooby, who is stepping down from the role after 25 years at the company.Continue reading...

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  Update on Swiss Pension Legislation

  In this issue of Hot Topics, we would like to provide a brief update on current legislative developments in Switzerland related to occupational pensions. Aside from the controversial proposals related to the implementation of the structural reform, a number of other legal changes have been decided or are in the pipeline. With this information, we target a more international audience who are interested in a high-level overview of the legal situation of pensions in Switzerland.Continue reading...

• Entrée en vigueur de la convention de sécurité sociale avec l’Inde

  Ratifiée par les deux Etats, la convention de sécurité sociale entre la Suisse et l’Inde entre en vigueur le 29 janvier 2011.Continue reading...

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  Planned implementation of structural reform of employee pension plans goes too far

  The provisions planned for the implementation of structural reform are drawing criticism from experts, some of it heavy.Continue reading...

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  Mise en œuvre prévue de la réforme structurelle LPP – objectif disproportionné

  Les dispositions d’exécution prévues dans le cadre de la réforme structurelle suscitent de vives critiques dans les milieux spécialisés.Continue reading...