Investment guidelines for vested pension benefit foundations

We have on several occasions informed our readers about the unsatisfactory new investment guidelines applying to vested benefits foundations. The ordinance which came into effect on 1 January 2009 with a two-year transitional period and effectively bars our clients from undertaking direct investments is now being reviewed by the BVG/LPP Commission. Through the combined efforts of our political and trade partners, the Commission was persuaded to relax the original extremely and incomprehensibly strict investment regulations, making them more client-friendly. The final version of the new guidelines is expected to be ready for the summer of 2010.