Swiss Federal Pension Fund

PUBLICA was established on 1 June 2003, replacing the former federal pension fund (PKB). The federal government assumed a CHF 12 billion shortfall to be financed over eight years. PUBLICA also inherited additional liabilities from the privatization of former federal enterprises. At launch, it served around 100,000 members, making it the largest autonomous pension fund in Switzerland. As of 2011, PUBLICA was a collective pension institution consisting of 20 pension schemes, serving around 56,000 active insured persons and 45,000 pensioners, with total assets of CHF 32 billion. According to Swissinfo, despite pressure from declining stock markets, the performance of PUBLICA's portfolio was supported by broad diversification. Bond, real estate, and commodity investments were reported to have contributed positively. The coverage ratio on 12 August 2011 stood at 101.9 percent, compared to an estimated 83.2 percent average among other public-sector pension funds in Switzerland. == See also ==