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Do Swiss pension funds have to pay interest for the money they hold on behalf of pensioners? How do the SNBs negative interest rates affect pensions?
Hi there,
Assets managed by Swiss pension funds are largely held at Swiss banks. The high amounts of money in question mean that negative interest rates are often charged.
Swiss consumer watchdog Konsumenteninfo AG estimates the cost to pension funds - and ultimately to pensioners - at 400 million Swiss francs per year. This money is paid to the Swiss National Bank as interest.
Best regards from Moneyguru
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