News from the Board of Trustees, 17 and 28 April 2020

  • 06.05.2020

General Electric Switzerland Pension Fund (PF) / Supplementary Insurance Plan (SIP): News from the Board of Trustees, 17 April 2020 (PF) and 17 and 28 April 2020 (SIP)

Current performance

In March, the PF generated a return on investments of -6.32%. The accumulated result from January to March 2020 thus amounts to -7.91%.

Approval of the annual accounts

The Board of Trustees has approved the 2019 annual accounts of the PF and the SIP. The PF generated a very satisfactory total return of 10.94%. The coverage ratio rose to 117.0% (previous year: 112.7%).

Appointment of auditor

KPMG was confirmed as auditor for financial year 2020.

Appointment of expert

The previous expert, Dr. Olivier Kern of Pittet Associates AG, was reappointed for financial year 2020.

Rules on the Internet

The revised Rules are now available on the Internet:

Management reshuffle

On 1 January 2020, Jacky Baula handed over the management of the PF and the SIP to the long-standing deputy managing director Marion Fischer. The Board of Trustees has appointed Tobias Abstreiter as new deputy managing director.

Board of Trustees: 2021–2024 term of office

The current term of office will end in late 2020. The election of the employee representatives will be announced in the near future. The employer representatives will be appointed by the employer.

Information events in 2020

Further information about the Pension Fund will be provided at the information events in May. Due to the current situation, the events will take place in the form of broadcast meetings:

  • Wednesday, 13 May 2020 – 10.00 a.m. – presentation in German
  • Thursday, 28 May 2020 – 10.00 a.m. – presentation in English

Two physical meetings will take place towards the end of 2020 – if the situation allows and the employees feel the need for such meetings.

The next meetings of the Board of Trustees will take place on 8 June 2020.