Occupational benefits: Groupe Mutuel merges its two pension foundations
Groupe Mutuel Pension (GMP) and Valais Pension (MVP) announced their merger on June 12. This merger gives Groupe Mutuel Pensions a new dimension - with 2,700 affiliated companies and around CHF 2 billion in assets under management.
At the Assembly of Delegates on June 12, 2019, the two Boards of Trustees held a meeting together for the first time. The delegates of the companies affiliated to Groupe Mutuel Pension (GMP) and Valais Pension (MVP) were informed of the figures of this joining of forces. The merger, which will take effect retroactively as of January 1, 2019, is now reaching a new phase; business operations are under unified management.
Good financial position
"The timing for this merger is favorable. With their excellent financial position, both companies are at the top of the rankings in terms of financial solidity of Swiss pension funds," says Karin Perraudin, President of the Board of Trustees of the new organization. Indeed, the funding ratio after the merger is 112.35 percent, and insured persons can benefit from a BVG interest rate of 2 percent. In addition, Groupe Mutuel achieved first place for the highest interest rate over ten years in a recent rating on occupational pension plans published by the SonntagsZeitung and "Finanz und Wirtschaft".
In addition to the good financial situation, the foundation boards mention numerous advantages of this union that benefit the insured of both foundations. "A larger dimension strengthens the weight of the foundation on the 2nd pillar market and in negotiations with the various partners. The simplification of processes and clearer communication based on the activities of a single organization will allow efficiency gains and greater transparency in the future," explains Marlène Rast, head of pension activities at Groupe Mutuel.
Switzerland-wide opening while maintaining a strong Valais identity
In 2018, the two pension foundations gained numerous new customers and recorded significant sales growth. These results show that the foundations' solutions meet the needs of companies from all over Switzerland. Consequently, thanks to the new structure, larger customers can also be accommodated. The primary objective remains the satisfaction of existing customers, Groupe Mutuel adds. "We offer them first-class customer service and solutions that are among the best performing on the market in terms of returns and security."
The Valaisan identity is maintained through a management entirely carried out in Valais, with the administrative headquarters in Martigny and the foundation headquarters in Sion. At the same time, the opening up to the rest of Switzerland, begun in 1994, is strengthened, ensuring future success.
