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GAC-EPA AG 25 mars 2011

GAC-EPA AG 25 mars 2011. SwissTraffic/mars 2011. AG 2011 GAC-EPA. AG 2010 GAC-EPA. Le Temps (22 février 2010 ) Performances attendues des institutions de prévoyance. Il est illusoire de compter sur des rendements mirifiques

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GAC-EPA AG 25 mars 2011

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  1. GAC-EPA AG 25 mars 2011 SwissTraffic/mars 2011 AG 2011 GAC-EPA

  2. AG 2010 GAC-EPA • Le Temps (22 février 2010) • Performances attendues des institutions de prévoyance. • Il est illusoire de compter sur des rendements mirifiques • .......Au total si tout catastrophisme paraît excessif, il semble tout autant illusoire d’escompter des rendements mirifiques....Quoiqu ‘ il en soit, le rendement de la fortune ne pourra guère compenser les déséquilibres actuariels des caisses de pension.

  3. Projected Pension Fund Assets Projected fund assets

  4. Options to reach full funding(analysis of actuarial results) Pour fixer des ordres de grandeur • Return of investments 30yrs ↔ 7.5% • Regular Contributions 30yrs ↔ 54% • Special contributions • 80MCHF/y (Stabilisation) • 115MCHF/y (Rattrapage) 16sept 2009. présentation FF au CF (mod) CERN Pension Fund

  5. AG 2010 GAC-EPA PFGB 18 février 2010

  6. RESULTS from annual report 2008 (mod) Funding ratio(01/01) 2007 2008 2009 2010(est) Trad. Method 104.7 106.3 82.03 84.3 ___________________________________________________________ White book 62 63 AG 2010 GAC-EPA

  7. AG 2010 GAC-EPA

  8. Pension Fund 2010/2011 Presentation au Conseil décembre 2010 First set of measures adopted for implementation in January 2011 to consolidate the CERN Pension Fund: capital injection of 60MCHF/a until full funding reached increase of contribution rate temporary “freeze” of pensions Second set of measures concerning future recruits and future pensioners under discussion for implementation in January 2012  Both sets of measures are coupled together  AG 2011 GAC-EPA

  9. Investments –Asset Allocation (31/12/2010) CERN/PFGB/26.4/Rev. AG 2011 GAC-EPA

  10. AG 2011 GAC-EPA

  11. AG 2011 GAC-EPA

  12. AG 2011 GAC-EPA

  13. AG 2011 GAC-EPA

  14. Variations des monnaies AG 2011 GAC-EPA

  15. AG 2011 GAC-EPA

  16. Invest/ch Bank of England AG 2011 GAC-EPA

  17. AG 2011 GAC-EPA

  18. Portfolio restructuring - Objectives Investment strategy January 2011 CERN PFMU • Objectives • Implement a capital preservation strategy across each sub-strategy • Reduce the directionality of the Fund • Increase the downside protection of the Fund • Increase the diversification of the Fund • Invest with talented and experienced managers.Benefit from their experience, network, research and risk management • The implementation of the restructuration of the Fund will be visible only in several months • Rapid changes in a meaningful size to have a positive impact on the Fund • AG 2011 GAC-EPA

  19. AG 2009 GAC-EPA Fwi/DATA1/GAC/AG2009

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