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Information on Baloise Perspectiva
Coverage ratio Perspectiva Relax
110% (30.11.2025, provisional)
Performance
5.93% (YTD, 30.11.2025)
Conversion rate 2026
Men (Age 65) 5.50%
Women (Age 65) 5.67%
Interest on retirement assets 2025: 3.00%
The coverage ratio of a pension fund shows the extent to which the sum of all its benefit obligations (pension and lump sum payments) is covered by the available pension assets. In principle, the premiums are calculated in such a way that all obligations are covered. But the assets are invested in the capital market and due to the fluctuations in prices, these investments can lose or gain in value. If its obligations are covered by more than 100 percent, the pension fund is in a so-called overfunding, and if it is less than 100 percent, it is underfunded.
Overfunding
In the event of an overfunding, the surplus capital can be distributed to the insured persons as interest or remain in the collective foundation as a buffer, known as a value fluctuation reserve.
Underfunding
A minor, short-term shortfall is no cause for concern: it has no impact on insured persons’ individual pensions. Advance withdrawals, terminations of employment and retirements will continue to be carried out in full without any restrictions under an ongoing contract of affiliation with the employer.
However, if the employer terminates their contract of affiliation with an underfunded pension fund, the actuarial reserve is reduced by the degree of underfunding. The new pension fund therefore receives less capital and the insured persons are allocated less in the way of retirement assets. The employer can voluntarily make up this loss.
The foundation can only take measures to remedy the shortfall jointly (i.e. involving employers, insured persons and pension recipients) in the event of a so-called substantial shortfall. The supervisory authority is informed about the implementation of the measures at regular intervals.
| Year | Coverage ratio (31.12.) | Performance (31.12.) |
| 2024 | 105% | 1.20% |
| 2023 | 98.2% | 9.32% |
| 2022 | 93.6% | -10.38% |
| 2021 | 106.7% | 7.57% |
| 2020 | 101% | -4.22% |
| 2019 | 108.5% | 11.47% |
The development of the coverage ratio is continuously monitored by Perspectiva’s management, the board of foundation, the pension actuary and the foundation supervisory authority.
Measures to remedy the underfunding that could affect insured persons are currently not necessary, as Perspectiva has outstanding risk capacity on a structural level.
Perspectiva's pension assets are invested and managed by Baloise Asset Management AG (german only). You can find information on the global development of the investment markets in our german blog. The assets are invested in the BVG-Mix Perspectiva investment group, fdetailed information on which can be found in german here.
The conversion rate is a fixed percentage rate used to convert the retirement assets saved, including interest, into a lifelong, annual retirement pension.
These rates differ for men and women due to their different life expectancies and circumstances.
The current conversion rates for pensioners at Perspectiva in %:
| Age | 2025 | 2026 | 2027 |
| 58 | 4.78 | 4.78 | 4.58 |
| 59 | 4.88 | 4.88 | 4.67 |
| 60 | 4.99 | 4.99 | 4.76 |
| 61 | 5.11 | 5.11 | 4.88 |
| 62 | 5.24 | 5.24 | 5.00 |
| 63 | 5.37 | 5.37 | 5.15 |
| 64 | 5.50 | 5.50 | 5.30 |
| 64 1/4 | 5.54 | ||
| 64 1/2 | 5.59 | ||
| 64 3/4 | 5.41 | ||
| 65* | 5.67 | 5.67 | 5.45 |
| 66 | 5.84 | 5.84 | 5.60 |
| 67 | 6.02 | 6.02 | 5.75 |
| 68 | 6.22 | 6.22 | 5.93 |
| 69 | 6.44 | 6.44 | 6.14 |
| 70 | 6.67 | 6.67 | 6.35 |
* For women born in 1962 or earlier: 64 years and 6 months. The statutory retirement age will be gradually increased to 65 years by 2028.
The conversion rates specified by the foundation apply. The statutory minimum benefits will be paid in all cases. If the retirement age is not a whole number, the conversion rates will be interpolated linearly.
The current conversion rates for pensioners at Perspectiva in %:
| Age | 2025 | 2026 | 2027 |
| 58 | 4.64 | 4.64 | 4.43 |
| 59 | 4.74 | 4.74 | 4.52 |
| 60 | 4.84 | 4.84 | 4.61 |
| 61 | 4.95 | 4.95 | 4.73 |
| 62 | 5.07 | 5.07 | 4.85 |
| 63 | 5.19 | 5.19 | 5.00 |
| 64 | 5.32 | 5.32 | 5.15 |
| 65 | 5.50 | 5.50 | 5.30 |
| 66 | 5.61 | 5.61 | 5.45 |
| 67 | 5.77 | 5.77 | 5.60 |
| 68 | 5.94 | 5.94 | 5.78 |
| 69 | 6.13 | 6.13 | 5.96 |
| 70 | 6.33 | 6.33 | 6.14 |
The conversion rates specified by the foundation apply. The statutory minimum benefits will be paid in all cases. If the retirement age is not a whole number, the conversion rates will be interpolated linearly.
We will be happy to answer any further questions you may have. Simply get in touch with your contact person - you will find them on your pension certificate.
Your pension certificate (also called a pension fund certificate) contains all the important information about the status of your occupational pension. This also provides details of the amount that you are saving as part of your compulsory occupational pension and that we will pay out to you in the future – on retirement, in the event of disability or death. In addition, the certificate includes information on what salary is actually insured and what contributions you and your employer pay.
We will send you this information automatically at the beginning of the year or after a relevant change (e.g. salary adjustment).
Further information can be found here (german only).