At its meeting on 25 May 2021, the Foundation Council approved the 2020 Annual Report.
In a year marked by COVID-19, where the pace was dictated by the pandemic, FTP demonstrated its soundness and reliability, both in terms of investment results and service to affiliates and insured members.
The positive investment performance (+2.70%), mainly due to the good performance of the equity segment, resulted in
an increase in the coverage ratio from 106.50% (31.12.2019) to 106.99% (31.12.2020).
FTP continued to grow in 2020, both in terms of the number of active members (+3.1%) and funds managed (+7.7%). At the
end of 2020, 251 employers with a total of 2,145 active
members were affiliated to FTP.
The fund’s demographic structure remains very favourable, with a ratio of pension recipients to active members of 1 to
11. The valuation parameters for balance sheet liabilities are conservative: the pension capital is valued using an average actuarial interest rate of 0.55% and generational technical bases.
FTP maintains a more defensive risk profile compared to other Swiss pension funds.
You can find the 2020 Annual Report containing all the details in the "Accounts" section of our website.
At its meeting of 20 October 2020, the Foundation Council approved the new Pension Regulations, which will come into effect on 1 January 2021. In the “Regulations” section of our website, you can find the new regulations as well as a detailed summary of the changes made. Please contact your FTP
Administrator for further information.
The Board of the Foundation has decided to adjust the conversion rates as of 01.01.2021, which for the first band of the Layer system will gradually transition over the next four years from 6% to 5.4%. With respect to other Pension Funds, even after the adjustment, the FTP conversion rates will still
be higher than the Swiss average. You can find the new "Annex 1” to the Pension Regulations, with all of the pension conversion rate tables, in the “Regulations” section of our website.
The lawyer Ilaria Caldelari Panzeri is now the new
chairperson of the Fondazione Ticinese per il secondo pilastro. The appointment took place in today’s session of the foundation council. Ilaria Caldelari Panzeri replaces the
outgoing chairperson Fausto Leidi, who decided to step down after more than two decades at the helm of the Foundation. The Vice Chairperson has been reconfirmed as Marco Bernasconi. The economist Antoine Turner, professor Laurent Frésard, engineer Stefano Malingamba and lawyer Davor Vadlja are now members of the new foundation council.
Ilaria Caldelari Panzeri graduated in law at the University of Zurich. After obtaining her licence to practice law, she spent
five years as cantonal secretary for the CATEF (Ticino Chamber of Commerce for Land Management). She then practiced law until 2001, when she was nominated Director of the Pension Fund of Lugano. In 2018, after 17 years in this role, during
which she completed some key development projects, she established and started – in her capacity as managing director – an anonymous real-estate management company owned by the same pension fund. She currently provides consultation
services for the legal and real-estate sector.
The Foundation bodies would like to express their sincere thanks to the outgoing chairperson Fausto Leidi, as well as the outgoing board members Albino Zgraggen and Werner Carobbio, for their complete dedication and strong
commitment, and the tremendous expertise with which they worked in the interest of the Foundation, its insured members and its affiliates.
During the meeting held on 17th December 2019, the Board of Foundation approved the interim accounts to the 30.09.2019. Those accounts don’t taking into consideration the adjustment of the technical provisions, which is expected to
become final at 31st December 2019.
The Foundation Board election and renewal process is now
complete and its composition for the four-year period from 2020 to 2023 will be
- Ilaria Caldelari Panzeri
- Laurent Fresard
- Davor Vadlja
- Marco Bernasconi
- Antoine Turner
- Stefano Malingamba
The council’s renewal procedure will be completed in the first session in January 2020 with the new members taking office and the internal appointment of the chairperson and vice chairperson.
During the meeting held on 8th October 2019, the Board of Foundation approved the interim accounts to the 30.06.2019. Those accounts don’t taking into consideration the adjustment of the technical provisions, which is expected to become final at 31st December 2019.
During the meeting held on 15th May 2019, the Board of Foundation approved the accounts for 2018, which closed with a coverage ratio of 104.43% in accordance with Art. 44 cpv. 1 OPP2 (2017: 102.04%).
Please be informed that from 1 September 2018 our offices will be transferred from Mendrisio to Lugano.
Our new address will be:Fondazione Ticinese per il secondo pilastroVia Peri 6Casella postale 56166901 LuganoOur new business hours will be:Monday – Friday 8:30 – 11:30 am 1:30 – 4:30 pm
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.