Annual report 2024
The annual report (including the audit report) and the short annual report 2024 have been published and are available for you to read.
You can find the reports under: Annual reports
Information on the financial statements for the year ending
31 December 2024
Ernst & Young AG has audited the pension fund’s financial statements for the year ending 31 December.
We have pleasure in informing you of the results:
At 31 December 2024, pension assets amounted to CHF 710.5 million (31 December 2023: CHF 673.8 million).
The return generated on total assets in 2024 amounted to 7.19% (2023: 7.7%). Investments ended the year with a profit of CHF 47.4 million (2023: CHF 47.3 million).
The funding ratio as of 31 December 2024 increased to an encouraging 116.9% (2023: 113.9%).
The board of trustees decided in December to reduce the technical interest rate from 1.25% to 1%.
The income surplus of CHF 20.6 million was allocated to the fluctuation reserve. This amounts to CHF 102.5 million as of 31 December 2024. The target value of the fluctuation reserve is CHF 109 million.
Number of members
At 31.12.2024 the number of active employees insured under the Personalvorsorgestiftung der Feldschlösschen-Getränkegruppe stood at 1,188 (31.12.2023: 1,165). Breakdown by company:
- Feldschlösschen Getränke AG – 401
- Feldschlösschen Supply Company AG – 665
- Carlsberg Supply Company AG – 119
- Carlsberg Mobility Programme – 3
At 31.12.2024 the number of pensioners drawing benefits amounted to 1,181 (31.12.2023: 1,220).
Further information on the year-end financial statements can be found in the Annual Report, which will be published later.
Information on the Board of Trustees Meeting held on 6 December 2024
The Board of Trustees has passed the following resolutions:
Interest on retirement savings
In accordance with the Federal Council’s decision, as of 1 January 2025 the minimum BVG interest rate will remain unchanged at 1,25%.
By law, the minimum rate is fixed on the basis of developments in the return on government bonds as well as the trend in equity markets, loans and real estate. The Federal Commission for Occupational Pension Plans (BVG-Kommission) and the social partners are consulted ahead of the Federal Council’s decision.
In view to the good financial situation of the foundation, the Board of Trustees has made the following decisions concerning interest on retirement savings:
- In 2024 retirement savings will be subject to an interest rate of 2,5%. The Board decided on an interest rate of 1,25% in December 2023.
- In 2025, the retirement savings will also bear interest at 2,5%.
Change in the chairmanship of the Board of Trustees
On 1 January 2025, the Pension Fund will have a new Chairman of the Board of Trustees. Patrik Füeg has decided to hand over the chairmanship of the Board of Trustees. The Board of Trustees has unanimously elected Claude Kirschner as the new Chairman. Patrik Füeg, who has held the office since 2007, will remain on the Board of Trustees as the employer representative.
We would like to thank Patrik Füeg for his many years of forward-looking leadership of the highest governing body of our pension fund. We would like to congratulate Claude Kirschner on his election and wish him every success in this responsible role.
Interim results as at 31 October 2024
Information on the interim financial statements: Positive performance continues
In line with market conditions, a negative absolute return of -0.44% was reported in October. Since the beginning of the year, the pension fund portfolio has achieved a positive return of +5.73%.
As of 31.10.2024, the pension fund assets amount to CHF 701.9 million (31.12.2023: CHF 673.8 million).
The funding ratio as at 31.10.2024 is 118.36% and has thus improved further compared to the last interim financial statements (30.6.2023: 116.88%). Annual financial statements 31.12.2023: 113,87%.
As at 31.10.2024, the pension fund had surplus cover of CHF 108.75 million. The target value of the fluctuation reserve is CHF 101 million and has therefore been exceeded for the first time.
Number of members
At 31.10.2024 the number of active employees insured under the Personalvorsorgestiftung der Feldschlösschen-Getränkegruppe stood at 1,199 (31.12.2023: 1,165). Breakdown by company:
- Feldschlösschen Getränke AG – 408
- Feldschlösschen Supply Company AG – 670
- Carlsberg Supply Company AG – 117
- Carlsberg Mobility Programme – 4
At 31.10.2024 the number of pensioners drawing benefits amounted to 1,190 (31.12.2023: 1,220).
Buying into the pension fund: plan in good time
Buy-ins can be made at any time but no later than 6.12.2024, in order to be processed for the 2024 fiscal year.
If permitted by the regulations, pension benefits can be improved by making voluntary contributions (buying in). In principle, buy-ins are tax-deductible. However, the pension plan accepts no liability if the responsible cantonal tax authorities do not permit tax deductions for a voluntary buy-in. If in doubt, we recommend that you check with the responsible tax authority prior to buying in, and obtain a binding statement on whether or not a tax deduction is permissible.
Please note:
- Before buying in for the first time, the form Buying into the pension fund must be completed and submitted to the pension fund.
- If withdrawals have been made to fund the purchase of a home, voluntary contributions may only be paid in once the amounts withdrawn are fully repaid.
- The buy-in amount earns interest (currently 1.25%) from the date of paying in.
- Please also note that for three years after the buy-in, the resultant benefits cannot be withdrawn from the pension plan in the form of capital (this is particularly important in the case of retirement or if you are planning to withdraw funds in advance for the purpose of purchasing a home).
For questions on the possible buy-in amount or your personal pension plan situation, please do not hesitate to contact Susanne Baumberger, Head of Staff Pension Plan, Tel 058 123 48 44 or Robert Bucher, Tel 058 123 47 54.
Staff Pension Plan Half-Year Results
The financial situation of Swiss pension funds has developed positively since the end of 2023.
The Feldschlösschen Beverage Group Pension Fund generated a positive return of 3.86% on total assets in the first half of the year.
The funding ratio as at 30.6.2024 is 116.88% and has thus improved again compared to the financial statements as at 31.12.2023 (113.87%).
As at 30 June 2024, pension assets amount to CHF 694.25 million (31.12.2023: CHF 673.8 million).
The fluctuation reserve amounts to CHF 100 million as at 30.6.2024 (31.12.2023: CHF 81,8 million). The target amount is CHF 101 million.
Number of members
At 30.6.2024 the number of active employees insured under the Personalvorsorgestiftung der Feldschlösschen-Getränkegruppe stood at 1,190 (31.12.2023: 1,165).
Breakdown by company:
- Feldschlösschen Getränke AG – 410
- Feldschlösschen Supply Company AG – 666
- Carlsberg Supply Company AG – 111
- Carlsberg Mobility Programme – 3
At 30.6.2024 the number of pensioners drawing benefits amounted to 1,195 (31.12.2023: 1,220).
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