Stabilization after a difficult year: Report on the development of pension funds in 2023 published

In 2023, the focus was on the stabilization of global supply chains, a slight easing of inflation rates and a cautious easing of monetary policy in some regions. These developments had a positive effect on investment returns and the coverage ratios of pension funds. With an average return of 5.9%, the reporting year ranks in the middle of the field in a comparison of the last ten years. The highest return achieved by a pension fund was 6.8%, while the lowest was 4.8% - a clear recovery trend compared to the negative values of the previous year.

Fortunately, the coverage ratios also stabilized somewhat in this context. The average coverage ratio rose to 109% at the end of 2023. The lowest coverage ratio was 95.27%, the highest 115.96%. There was a further slight improvement in the funding ratios in the first half of 2024. The pension conversion rate averaged 5.7% at the end of 2023.

The Liechtenstein pension funds insure around 45,500 active insured persons and pension recipients. The number of pension recipients rose by 4.3% compared to the previous year to almost 6,500 people. The insured persons' savings capital earned an average interest rate of 1.75% in 2023. In total, the 16 pension funds paid out regulatory benefits of around CHF 279 million in 2023 and received contributions from employers and employees amounting to CHF 534 million.

The total assets of the pension funds in Liechtenstein amounted to CHF 8.43 billion at the end of 2023, corresponding to around 119% of gross domestic product. In addition, an amount of CHF 573.4 million was held in vested benefits accounts at Liechtenstein banks as at the end of 2023.

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