Voluntary Contributions to the Occupational Pensions Scheme – Tax Deductibility for 2021

Please note that voluntary contributions must be received into our account at Credit Suisse AG, Zurich IBAN No. CH84 0483 5324 9275 3100 0 by value date 15 December 2021 at the latest. Later contributions cannot be taken into account for the 2021 financial year.

How to save taxes and plug pension gaps

Application for voluntary purchases

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Annual Financial Statement / Annual Report 2020

The Alvoso Pension Fund reinvents itself – a look back at a successful 2020

Looking back, 2020 was probably one of the most ground-breaking years in the 35-year history of Cham-based, Alvoso Pension Fund. Following the expiry of a 10-year cooperation agreement with LLB, asset and policyholder management operations have been put out to tender again. The decision to take the administration of insured clients into our own hands was a very logical one. An in-house administration team under the experienced leadership of Thomas Schmidiger, who is himself an experienced specialist, brings us closer to beneficiaries. And just as importantly, Alvoso is now both independent and neutral, a positioning that offers tremendous growth opportunities. From 1 October 2020, the collective foundation will operate under the name “Alvoso Pension Fund” (previously: ALVOSO LLB Pension Fund). The fund’s secretariat is now situated in Schlieren, in the heart of the Limmat Valley, which is currently booming economically. A new logo as well as a completely new corporate image have been created. For the first time ever, our website is now implemented in multiple languages. Digitalisation is also being driven forward – with passion.


Still on course for growth

The Alvoso Pension Fund continued its growth in the 2020 financial year. Even within the challenging environment of  Covid-19, a solid result was achieved. An annual performance of just under 3 per cent meant that it was not possible to match 2019; which had, in fact, been an exceptional investment year. Despite this, the earnings generated in 2020  exceeded long-term expectations.

  • Investments (balance sheet total) CHF 429.3 million (+ 2 percent)
  • Net result from investments CHF 12 million (previous year CHF 41.5 million)
  • Funding ratio at collective foundation level 105.6 percent (previous year 108.4 percent)

The year 2020 showed us once again quite clearly just how vulnerable the economy in general and specifically, the investment markets, are. The low level of interest rates, which continues on unabated, suggests that it will not be possible to generate adequate income over the next few years. The Board of Trustees of the Alvoso Pension Fund regards this ongoing situation as a confirmation of its cautious position. Stabilizing pension schemes continues to be a high priority. For this reason, the Alvoso Pension Fund’s accounting practices will, in the future, be even more cautious regarding our pension obligations and we have lowered the technical interest rate to 1.5 percent (previously: 2.0 percent). This makes the Alvoso Pension Fund a collective foundation with the lowest technical interest rate. Its retirement assets yielded interest at 1.0 per cent in 2020.

More and more people are reaching old age and will be able to draw their pensions for longer:  life expectancy has increased significantly in recent years. On the other hand, interest rates have fallen in the capital markets. For this reason, the Board of Trustees decided previously to lower the conversion rate to 5.8 percent by 2022.

Thomas Schmidiger, CEO of the Alvoso Pension Fund, emphasises that the fund’s performance developed positively again during the first quarter of 2021. The coverage ratio is now back at 108.4 percent as of 30 April 2021.

The detailed Annual Financial Statement 2020 of the Alvoso Pension Fund is now available online.


The Alvoso Pension Fund – a success story

In the 35 years of its existence, the Alvoso Pension Fund has been a highly successful venture, offering innovative ideas, excellent service and a high standard of personal attention. Every year, around 350 affiliated companies with over 2600 beneficiaries enjoy a cover surplus and are reassured to know that their retirement assets are in safe, competent hands. Individual pension solutions and the highest level of personal support are two additional factors that play a role in Alvoso’s success.



Alvoso Pensionskasse, Zürcherstrasse 104, 8952 Schlieren

Thomas Schmidiger, Managing Director

+41 43 444 64 40


Events surrounding Credit Suisse – Alvoso not affected

At a meeting specially arranged for the Alvoso Pension Fund on 7 April, the topics of “Greensill” and “Archegos” were discussed in person with representatives of Credit Suisse (Switzerland) AG in connection with downside risks for pension assets.

By virtue of its investment structure, Alvoso has invested neither directly nor indirectly in the above-mentioned products. Moreover, pension assets are being managed within a separate legal entity belonging to Credit Suisse (Switzerland) AG. At the present time, Alvoso is not seeing any direct effects resulting from the management of its pension assets by Credit Suisse (Switzerland) AG. However, further developments will be monitored on an ongoing basis.

Home-Office Alvoso

At its press conference on 13 January, the Federal Council tightened the current lockdown and, in particular, made it compulsory for all employees to work from home, where feasible at reasonable cost. The Alvoso Pension Fund is now implementing this measure, in order to protect its employees. Nevertheless, we will of course still be available for our customers.


Despite the more difficult general environment, we will continue to deal with your requests rapidly, to the best of our ability.

Your Alvoso Team

Continued Insurance after Loss of Employment

Up to now, an insured person who loses his or her employment after reaching the age of 55 would leave the pension fund automatically and would have his or her retirement assets transferred into a vested benefits account. As a rule, vested benefit foundations do not pay out pensions on retirement, but only capital. Following reform (in effect from 1.1.2021), an insured person can now remain with their occupational benefits organisation. He or she will have the same rights as other insured persons (interest payments, conversion rate, pension).

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