The Vita Classic retirement provision model is characterised by the direct and balanced participation of the insured in the investment income. This benefits them in the form of additional interest calculated according to a transparent mechanism.
The retirement provision model is explained in the brochure "Key facts at a glance" and and in the fact sheet “Vita Classic retirement provision model”.
The overall interest earned in the case of the Vita Classic retirement provision model consists of a base interest rate and a share in the maximum additional interest. The base interest corresponds to the legally determined minimum interest. If the coverage ratio amounts to at least 102% on the effective date at the end of November, additional interest is paid.
The share in the maximum additional interests is dependent on how long the company has been affiliated with the Vita Collective Foundation. Thanks to the high investment income in past years, customers of the Vita Collective Foundation have benefited from total interest earned that is higher than average.
| Retirement provision affiliation annually | |||||||||||
| Interest | 2020 or earlier | 2021 | 2022 | 2023 | 2024 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | Total interest earned | 1.45% | 1.40% | 1.35% | 1.35% | 1.25% | |||||
| Base interest | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% | ||||||
| Additional interest | 0.20% | 0.15% | 0.10% | 0.10% | 0.00% | ||||||
| 2023 | Total interest earned | 1.20% | 1.10% | 1.00% | 1.00% | - | |||||
| Base interest | 1.00% | 1.00% | 1.00% | 1.00% | - | ||||||
| Additional interest | 0.20% | 0.10% | 0.00% | 0.00% | - | ||||||
| 2022 | Total interest earned | 2.50%* | 1.70% | 1.00% | - | - | |||||
| Base interest | 1.00% | 1.00% | 1.00% | - | - | ||||||
| Additional interest | 1.50% | 0.70% | 0.00% | - | - | ||||||
| * Customers with contracts commencing before 01.01.2018 will receive the last interest tranche of 0.40% from the previous pension model and thus a total interest rate of 2.90%. | |||||||||||
| Affiliation in | |||||||
| Total interest earned in % | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|---|---|---|
| 2021 |
BVG mandatory retirement savings | 1.40 | 1.40 | 1.40 | 1.00 | 1.00 | 1.00 |
| Super-mandatory retirement savings | 1.40 | 1.40 | 1.40 | 1.00 | 1.00 | 1.00 | |
| 2020 |
BVG mandatory retirement savings | 1.50 | 1.40 | 1.40 | 1.00 | 1.00 | 1.00 |
| Super-mandatory retirement savings | 1.50 | 1.40 | 1.40 | 1.00 | 1.00 | 1.00 | |
| 2019- | BVG mandatory retirement savings | 2.40 | 1.40 | 1.40 | 1.00 | 1.00 | - |
| Super-mandatory retirement savings | 2.65 | 1.65 | 1.65 | 1.25 | 1.25 | - | |
| 2018 | BVG mandatory retirement savings | 2.40 | 1.40 | 1.40 | 1.00 | - | - |
| Super-mandatory retirement savings | 3.15 | 2.15 | 2.15 | 1.75 | - | - | |
| 2017 | BVG mandatory retirement savings | 2.00 | 1.00 | 1.00 | - | - | - |
| Super-mandatory retirement savings | 2.50 | 1.50 | 1.50 | - | - | - | |
| 2016 | BVG mandatory retirement savings | 2.25 | 1.25 | - | - | - | - |
| Super-mandatory retirement savings | 3.00 | 2.00 | - | - | - | - | |
| 2015 | BVG mandatory retirement savings | 2.65 | - | - | - | - | - |
| Super-mandatory retirement savings | 3.40 | - | - | - | - | - | |
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| BVG minimum interest rate in % | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.25 |
We offer you stability and the highest possible security thanks to our size and broadly diversified investment strategy. Each company is given access to investments that promise success.
With our broadly diversified and long-term investment strategy, we can cushion short-term fluctuations on the capital market and generate stable income over the long term, which benefits you and your employees in the form of interest. A balanced share of equities and tangible assets as well as investments in alternative investment vehicles means stable returns can be expected in the long term.
Our investment strategy is defined by the investment commission of the Vita Collective Foundation and approved by the foundation board. It is regularly adjusted to the foundation's risk-return profile.
| Ten largest positions, equities | CHF million | in % of equities | in % of portfolio |
|---|---|---|---|
| Nestlé SA | 198.2 | 3.37 | 1.09 |
| Novartis AG | 147.1 | 2.50 | 0.81 |
| Apple Inc. |
142.5 | 2.42 | 0.79 |
| Roche Holding AG |
133.2 | 2.26 | 0.73 |
| Microsoft Corp. |
127.7 | 2.17 | 0.70 |
| Alphabet Inc. |
92.3 | 1.57 | 0.51 |
| Amazon.com Inc. |
70.7 | 1.20 | 0.39 |
| Nvidia Corp. |
66.4 | 1.13 | 0.37 |
| Taiwan Semiconductor Manufacturing Co. |
54.6 | 0.93 | 0.30 |
| Samsung Electronics Co. Ltd. |
47.6 | 0.81 | 0.26 |
| As of: 09/30/2023 | |||
| Ten largest positions, bonds | CHF million | in % of bonds | in % of portfolio |
|---|---|---|---|
| United States of America | 651.6 | 11.13 | 3.59 |
| Pfandbriefbank schweizerischer Hypothekarinstitute | 360.4 | 6.17 | 1.99 |
| Pfandbriefzentrale der schweizerischen Kantonalbanken AG |
245.6 | 4.21 | 1.35 |
| Swiss Confederation |
190.0 | 3.25 | 1.05 |
| French Republic |
63.8 | 1.09 | 0.35 |
| Federal Republic of Germany | 59.2 | 1.01 | 0.33 |
| Zürcher Kantonalbank |
51.2 | 0.88 | 0.28 |
| Kingdom of Spain | 49.7 | 0.85 | 0.27 |
| Luzerner Kantonalbank AG |
40.8 | 0.70 | 0.22 |
| Canton of Geneva |
37.5 | 0.64 | 0.21 |
| As of: 09/30/2023 | |||
We make impact-oriented investments in the environment, society and infrastructure. By investing in green bonds, we support projects that have a positive effect on sustainable development. Among other things, "impact investing" includes the commitment "senior housing". With "senior housing", we are promoting sustainable investment projects and, together with local partners, are committed to the development and design of future living spaces. We think beyond retirement and implement apartments for senior citizens that are suitable for the elderly.
We aim to achieve a balanced mix of complementary measures and approaches for the purpose of sustainable decarbonization. This includes the continuous and sustainable reduction of CO2 emissions, whether in our domestic and foreign real estate and equity investments, or on our own business premises. We have set ourselves clear sustainability targets, which we regularly reassess.
Since 2010, we have been able to reduce carbon emission in the investment category Real Estate Switzerland by 28.7 percent. Our goal is to cut our carbon emissions by a total of 40 percent compared to 2010. Continuous monitoring of the portfolio is a significant control element. We use special software to determine the carbon footprint of our entire real estate portfolio.
The investment group Immobilien Europa Direkt (IED) is looked after by the portfolio manager Schroder Real Estate. Schroder Real Estate has been a participant in Global Real Estate Sustainability Benchmark (GRESB) since 2011, the dominant global standard for evaluating the environmental, social and governance-related performance (ESG) of real estate funds and companies. In 2022 the fund achieved 90 points out of 100, resulting in a 5 star rating (from a total of 5 possible stars) and a green star rating. In September 2019 Schroder joined the Better Buildings Partnership (BBP), signing the self pledge on climate change and published the “Pathway to Net Zero Carbon” in December 2020. This contains – in accordance with the Paris Agreement – the pledge to achieve zero carbon emissions by 2050 or sooner in order to limit global warming to 1.5°C.
With shares we have set ourselves the target of reducing CO2 emissions by 20 percent from their 2019 level, by 2025. By the end of 2022, we were able to cut the carbon emissions of our equity portfolio by 14.8 percent.
The pension regulations of the Vita Collective Foundation stipulate that the Foundation may levy contributions from insured persons and from the employer to finance the compensation of pension conversion losses (Art. 5 (5)).
Starting from January 1, 2024, a contribution rate of 0.01867% will be levied for the first time. This is calculated on the basis of the extrapolated mandatory retirement assets as of December 31, 2024 and applies to all active insured persons from the age of 45 and above. Per CHF 100,000 of retirement assets, this means a contribution of CHF 18.67 per year.
Annual key figures, composition of the foundation board and information on other institution can be found here.
