19.12.2018During the meeting held on 19th December 2018 the Board of Foundation approved the interim accounts to the 30.09.18. Those accounts don’t taking into consideration the
adjustment of the technical provisions, which is expected to become final at 31st December 2018.
19.09.2018During the meeting held on 19th September 2018 the Board of Foundation approved the interim accounts to the 30.06.18. Those accounts don’t taking into consideration the adjustment of the technical provisions, which is expected to
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During its meeting of 8 May 2018, the FoundationBoard approved the 2017 accounts. These closed with a coverage ratio under Article 44(1) BVV2 of102.04% (2016: 101.62%).
2017 saw a 6% increase in the number of affiliated companies (314 as of 31.12.2017), and 5% growth in the number of active policyholders (2354 at 31.12.2017).
The fund’s demographic structure remains very favourable, with a ratio of pension recipients to active policyholders of 1 to13.
The financial liability evaluation parameters are conservative. The pension fund is valued using an average technical rate of1.01% and generational technical bases.
In recent years, the Foundation has begun to set up reserves to meet the costs of future pensioners. Considering these reserves, the financial coverage ratio at 31.12.2017 amounted to 109.78%.
In the current scenario of very low interest rates, the return on investment is unlikely to be sufficient to finance the current income level (based on generous conversion rates). The coverage ratio may therefore have to be reduced.
Following the retirement of Director Dario Giudici in 2018, the Foundation Board officially approved the appointment of Ronald Ogna as a new Foundation Director.
Ronald Ogna is the new Director of the Ticino Foundation for the Second Pillar.
The appointment was officially approved during a meeting of the Foundation Board today, 11 April 2018
Ronald Ogna, born in 1975, graduated with honours in Economy in 1975 from the University of Zurich. After working for the University of Zurich IEW Economic Research Institute, he returned to Ticino, where he initially worked as an Equity Fund Manager with BSI. He then spent more than 10 years managing pension funds for BSI and subsequently Patrimony 1873. He has built up extensive expertise in the pension field through his work and specialist training courses. Ronald Ogna has been a member of the Board of Directors of Azienda Elettrica Ticinese (AET) since 2009 and a member of the Board of Directors of Società Elettrica Sopracenerina (SES) since 2013.
Ronald Ogna takes the place of Dario Giudici who is retiring after 23 years in the business.
The Foundation Board thanks Dario Giudici warmly for his important contribution and the excellent work he has put in during his years at the Foundation, which have seen significant growth and ongoing development of the institution. The Board congratulates Ronald Ogna on his appointment, wishing him every success and satisfaction.