Comprehensive Comparison of Swiss Pension Funds 2024

Comprehensive Comparison of Swiss Pension Funds 2024For the 19th consecutive time, Bilan, SonntagsZeitung, and Finanz und Wirtschaft have conducted, in collaboration with the consulting firm Weibel Hess & Partner AG, a comprehensive comparison of Swiss pension funds among 33 freely accessible joint and collective foundations.

The study is accompanied by an advisory committee that defines the thematic priorities and oversees the professional implementation and evaluation of the study. A rotation of advisory committee members ensures objectivity and independence. This year, the participating pension funds are Bruno Marroni (Gemini) and Yvonne Häring (Pax). Also present are Karsten Döhnert (Lucerne University of Applied Sciences and Arts – Economics), pension fund expert Thomas Keller (Kellex), and FDP Council of States member Damian Müller, as members of the advisory committee.

The results of the study reinforce that companies should actively and regularly review their pension fund arrangements to ensure they are getting competitive rates and appropriate services for their employees’ needs. Long-time loyal customers often miss out on reduced risk premiums unless they take the initiative to renegotiate terms. Existing affiliation contracts are often renewed with unchanged conditions for years.



Some pension funds charge more than three times the risk and administrative fees compared to their competitors for the same benefits. As part of this year’s practical test, three insurance brokers requested a hidden quote from 32 joint and collective foundations for a pension solution for a production and distribution company employing 34 staff. For many pension funds, the opportunity to reach new, interesting clients generated keen interest. The first offers were received shortly after the request.

Transparenta presented the most advantageous premium offer at 31,369 francs, winning this year’s award for the lowest risk and administrative fees in the Mystery Shopping test. Ambassador’s offer was only a few francs more expensive at 31,713 francs. Patrimonia follows in third place with a bill of 34,105 francs.

Pension fund premiums are divided into savings contributions for building retirement provisions and risk premiums.

  • Different pension funds charge significant differences in risk and administrative fees for the same services. Some funds charge up to three times more than others for the same risks.
  • The average risk and administrative fees across 32 offers was 51,849 francs. The most expensive funds charged premiums three times higher than the cheapest ones for the same risks.
  • Fully insured collective foundations tended to offer higher premiums. Allianz Suisse had the cheapest fully insured offer at 52,369 francs.
  • The difference between the most expensive and cheapest offer was substantial, amounting to an additional 2,400 francs per insured person.
  • About one-third of pension funds declined to submit an offer, citing too many older employees in the company. Funds pay special attention to employees retiring in the next 5-10 years due to the financial burden of converting savings to lifetime pensions.


Companies should regularly review their pension fund solutions to avoid overpaying. Many funds have reduced their risk premiums in recent years, but existing customers don’t automatically benefit. While cost comparison is important, other factors like security, investment structure, and retirement benefits should also be considered when evaluating pension funds.


This article about a comprehensive comparison of Swiss pension funds is provided by WHP, Asinta’s Partner in the country. If you need support with employee benefits in Switzerland, please contact Asinta, and we will put you in touch with the local experts at WHP.