The administrative investigation launched by the Swiss Federal Ministry of Internal Affairs, to find who or what led to overestimating pensions and social security costs of the first pillar fund (AHV), has discharged Stéphane Rossini, former director of the Swiss Federal Social Insurance Office (FSIO), from being responsible for the mistake.
The Swiss Federal Ministry of Internal Affairs (Eidgenössisches Departement des Innern, EDI) announced in October that Rossini, who is still the head of the FSIO overseeing the first and second pillar pension systems, will step down from his role at the end of June 2025 – a decision taken after being publicly accused of damaging the trust in AHV.
The people involved, including the director of the FSIO, cannot be accused of violating their duty of care, EDI said in a statement commenting on the investigation report submitted by law firm Bratschi at the end of November.
The administrative investigation has shown that two functions increased the amount of expenses for the social security fund (AHV), the biggest of the three managed by Compenswiss (the other two being EO and IV), with assets close to CHF40bn (€43.1bn).
The calculation model with the two defective functions could no longer be used by FSIO employees after they noticed the implausible forecasts because they lacked information, and the processes were not sufficiently engrained in the institution, it added.
This had been known to FSIO for some time, EDI said.
FSIO reacted promptly to the mistake, using two alternate calculation models that gave as a result 3.6%, or CHF2.5bn, lower expenses for AHV in 2033, compared with the results recorded with the calculation models used previously.
The investigation report further stated that FSIO cannot be accused of acting and providing information too slowly last summer, when it found out the mistake.
FSIO amended AHV forecasts “under time pressure”, as the government (Federal Council) had to decide on key parameters for the implementation and financing of the 13. AHV-Rente, the thirteenth month of pensions that will be paid from 2026 through the AHV fund.
The EDI has taken note of the report and is now carrying out a detailed analysis of the result to avoid repeating such incidents in the future, improving quality control, process flows and knowledge transfer, it added.
The investigation report is expected to be published at the beginning of next year.
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